Nova Home Loans selects OptiFunder Warehouse Management System

ST. LOUIS - Rezul -- Nova Home Loans, a large independent residential mortgage lender, has selected OptiFunder's Warehouse Management System (WMS) to leverage the industry's first fully-automated funding solution. With OptiFunder, Nova Home Loans will leverage a comprehensive platform offering multiple toolsets including the OptiFunder Select decision engine to ensure the optimal warehouse placement for every loan and the OptiFunder Connect automation suite enabling single-click funding with all of its warehouse lenders through a single integration.

"As Nova looks at another year of record growth, we want to have technology in place that creates new efficiencies and reduces expense at the same time," said Oystein Konsmo, Chief Financial Officer at Nova.  "OptiFunder was a perfect fit because it allows us to scale for our planned growth, reduce expense, maximize warehouse spread, and streamline operational process.  With integrated reporting for all our important warehouse relationships in a single location, we now have a clear view of all key metrics, such as ROI, capacity utilization, aging loans and upcoming curtailments in order to proactively manage our business."  Konsmo added, "OptiFunder has enhanced our ability to manage loans beyond closing in the LOS.  We now have full visibility through loan sale."

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OptiFunder revolutionizes the way independent originators fund loans by providing real time optimized decisions on where to fund each and every loan to achieve the lowest cost of capital and completely automate the funding process.

"Today, mortgage lenders are tasked with finding the right technology solution that fuels their business and enhances the bottom line.  Much of the innovation in our industry as of late has been focused on pre-closing.  Our Warehouse Management System now allows lenders to achieve optimized results for post-closing functions.  We are leveraging the vast information in the Loan Origination System to ensure our clients are achieving the highest level of profitability of loans post-closing," said Brian Abbott, Chief Operating Officer at OptiFunder.  "We are thrilled to welcome Nova Home Loans to the growing OptiFunder family – empowering their team with a funding automation solution to reach new levels of growth and profitability."

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About OptiFunder Corp.
OptiFunder is a Fully-Integrated and Automated Warehouse Management System for mortgage originators. OptiFunder developed a patent-pending optimization algorithm to optimize where originators fund each and every loan to achieve the lowest cost of capital.  Additionally, OptiFunder automates the submission of data and documents to warehouse lenders, providing a fully-integrated solution for the mortgage funding process.

For more information on Nova Home Loans and its services, visit http://www.novahomeloans.com/