NXTsoft Seamlessly Boards Mortgage Loans

Category: The Bottom Line , testimonial
Author: NXTsoft

Merrimack County Savings Bank is a 1B community bank under a shared services holding company, New Hampshire Mutual Bancorp. I’ve been in the banking industry for thirty-eight years, with experience principally in the lending areas, both in mortgage banking and commercial lending. During that time, I have been through core conversions and implementation of interfaces for mortgage origination platforms.

That’s where I first became familiar with NXTsoft. At a previous employer we had partnered with NXTsoft to seamlessly board mortgage loans from MortgageBot to Jack Henry SilverLake. When I joined MCSB, I was not surprised to learn that we were implementing the NXTsoft interface between Encompass and Jack Henry Silver Lake.

Fast forward to 2020, what a year! Returning from a March vacation, I was immediately sent home to work. With the onset of the Covid 19 pandemic the SBA released its Payment Protection Plan program. Our servicing team at NHMB was in the midst of another core conversion and was also handling record mortgage volume, again with the help of the NXTsoft interface.

On April 3rd of 2020 I was forwarded the contact information for NXTsoft’s Nick Paoloni, who had inquired if there was anything they could do to help us with PPP Lending. Perfect timing, I knew we’d be originating hundreds of these loans, and that NXTsoft knew Jack Henry Silver Lake well enough to help us develop a connector quickly that would help us efficiently board these loans. In short order we signed a contract and were working hand in hand with Ted Lynch, vice president of professional services. We spoke the same language and Ted understood our goal and the urgency of the situation. When we were putting the finishing touches on the mapping, Ted suggested adding a funding transaction code that would ultimately save our operations team from touching these loans.

During the 2020 round of SBA PPP lending, we were proud to originate 660 loans to our business community, injecting over $84 million dollars into the local economy.

The 2021 round of PPP lending is now underway and we are once again taking full advantage of our NXTsoft PPP connector to board our loans. We expect that when all is said and done with PPP, we’ll have originated upwards of 1,000 loans and injected over $100 million dollars into the southern New Hampshire economy. NXTsoft has been a key partner in helping us serve our customers at their time of greatest need.

-Terrie McQuillen, Senior Portfolio Manager

February 9, 2021
Back
Share this post on social media