A reverse mortgage servicer streamlines payment processing via Dynamics GP

April 16, 2019 TM Group

A reverse mortgage servicer streamlines payment processing via Dynamics GP

The Client

A reverse mortgage servicing company based in southwest Michigan.

The Challenge

The business’ vice president of financial systems contacted The TM Group, which she had partnered with at a previous organization, with the intention of accelerating and streamlining its nontraditional accounting workflows. The client had long used a Sage product to manage the high-volume payment collection and dispersal processes at the core of its operations. In this balance sheet-only approach, the organization received installments from borrowers and redistributed the money to the applicable loan holders, zeroing out its books. The client billed the mortgage originators for its processing services but left the income reporting up to its parent company. While Sage managed to support these functions, it did so at an incredibly slow pace. In fact, accounting personnel attested to waiting multiple business days for the platform to process payment data via the cloud. This mucked up operations, undermined growth and exposed the company to consistent contractual penalties linked to late repayment.

In addition to requesting an accounting platform that could handle high-volume workloads, the client needed technology that would integrate with its client-facing line-of-business application. With this need and the other requirements in mind, The TM Group went to work mapping out a potential solution.

The Solution

The consultants and developers at The TM Group ultimately put together a proposal centered on Microsoft Dynamics GP, which can be deployed within private company servers. The package included the GP general ledger, accounts payable and accounts receivable modules, along with two third-party components: Nolan Business Solutions Advanced Bank Reconciliation and Mekorma MICR SmartConnect. The client ultimately greenlit implementation, at which point The TM Group development team went to work. However, soon after the group began porting data and installing GP, it had to make significant adjustments to the application workflow pitched in the original proposal. This initial solution road-map included an analytical accounting feature that, when deployed during the opening stages of the project, bogged down the whole system. The TM Group ultimately adjusted and rolled out an alternative that facilitated fast data transfer speeds between the client’s LOB application and GP via SmartConnect.

Implementation unfolded smoothly following this roadblock, as developers for the software company easily swapped Sage for GP and moved the reverse mortgage servicing provider’s back-end processing workflows into dedicated organizational server space alongside the LOB module. 

The Outcome

The new GP installation has made an immense impact on the business, allowing it to handle between 30,000 and 40,000 borrower payments daily and redistribute these funds to several thousand loan holders. The solution has also set the client on the path to growth, facilitating the high-volume processing capabilities it needs to keep existing originators happy and take on additional clients. That said, the work does not stop here. The TM Group is currently working to roll out GP within the client’s parent company, a massive shift that will transform back-end operations across multiple entities.  

Is your organization interested in improving accounting and business processes? Connect with The TM Group. They have been managing Dynamics GP implementations for decades, providing entities of all sizes, tailored services designed to help them find financial success today and in the future. Contact The TM Group today to learn more.

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