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A New Vision Emerges


Nearly fifteen years ago, a young Southern California mortgage professional named Martin Williams founded Millennia Mortgage, a mortgage banking company fueled by high call volume, direct response marketing. Everything was going well for Millennia, and the company was experiencing rapid growth, yet Williams perceived that his organization's potential was being constricted by the tedious systems that companies like his employed in their day-to-day operations. It was then that Williams began envisioning a software solution that would allow his mortgage banking operations to run more efficiently and more profitably.

Soon, Williams had assembled an in-house software development team and tasked them with creating a custom loan origination and processing software solution from the ground up. By 2000, the development team had completed and implemented a revolutionary new mortgage software and lead management system at Millennia, and the company began realizing significant efficiency improvements throughout every department.

The Genesis of VCO Lend


By 2003, the mortgage industry was heating up fast, and this meant more growth for Millennia. However, the company's location in Orange County, California, one of America's most competitive mortgage markets in terms of acquiring and keeping affordable, quality staff, presented some unique staffing challenges. While there were qualified potential employees in outlying areas, few of these candidates were willing to spend the significant drive time it would take to commute to Millennia's corporate headquarters.

This dilemma led Williams to envision a paperless, web-based workflow that would enable employees to work remotely without compromising the detail-oriented nature of the loan processing workflow.

By the end of 2003, Millennia's development team had made this vision a reality, and Millennia's entire staff, from agents to shippers, were deftly processing loans in a paper-free environment. By all accounts, Millennia had became the first end-to-end paperless mortgage banking operation in the industry, thanks to an automated queuing system infused in the heart of "VCOLend", Millennia's web-based loan origination and processing system.

Discovering the Freedom of a Paperless Mortgage Office


Leveraging its competitive advantage, Millennia steadily hired top agents and operations staff from across the country. Unified by a web-based, seamless platform deploying business rules logic, company-wide staff were engaged to ensure 24-hour turnaround at every major stage of the loan cycle. As a result, within months of full implementation, the Company realized 40% improvements in turn-times and a correspondingly equivalent reduction in operational costs.

Innovation as a Core Value Drives Millennia... Refines Mortgage VCO Technology


Custom software development became an integrated strategy at Millennia. Redundant tasks throughout the process were routinely broken down, analyzed, and automated in a collaborative web of efficiency. Customer relations, from marketing to trigger-point interactions, were deeply imbedded within the systems, creating a truly unique and personalized experience. It was an exhilarating time at Millennia; one cohesive team of agents, ops staff, management, and in-house developers, all under one roof, creating this incredibly powerful software platform.

File Queuing and Automated Task Assignment Added


In 2005, Millennia's loan management workflow evolved and the technology became more refined. A tiger team comprised of agents, processors, underwriters, and funders were charged with designing the ultimate file and task distribution mechanism, maximizing each piece of technology. After methodical development, the result was an improved loan management and information exchange system powered by self-feeding file queuing, notifications, line-item needs list assignment to assistants, accountability measures and ops staff bonus calculating and reporting.

These two developments had an immediate impact on the bottom line as highly-paid underwriters and processors were freed up to focus on the more intellectual work by shifting easier tasks to contracted clerical-level staff located across the country to assist in their workflow. They were paid by the file and motivated by turn-time... and the loan processing system managed it all automatically! During peak production, contract staff would be "summoned" by the system (via email and SMS text) to work on backlog files.

The combination of workflow automation from Millennia's custom technology and virtual contract staff ensured quick turn-times and maximum utilization of corporate staff.

Everything was measured, viewable, and available for immediate access in one centralized location. Powerful analytics software was developed to effortlessly display company metrics. As stated earlier, the before and after results were hard to believe, with turn-time and operational per-transaction cost reductions close to 40%!

Software Development Sophistication Grows


In the years that followed, Millennia's core technology continued to evolve as the entire team worked together to hone each aspect of the loan origination and processing software while further refining workflow processes. Here are a few of the developments that followed:
  • Built and deployed a sophisticated, award-winning, stand-alone decisioning and pricing engine technology that directly integrated with major industry investors.
  • One of the first to develop indexed electronic loan delivery (ELD) to secondary markets with all key investors.
  • Built a sophisticated, rules based, multi-source lead capture and agent routing technology, incorporating agent accountability and customer relations management (CRM) features.
  • Fully integrated an advanced call center telephony solution.
  • Built a fully-integrated third-party vendor management portal with automated data exchanges, creating a completely seamless process for the ordering and receipt of various settlement services.

Acris Technology is Born - Mortgage VCO is Launched


In 2008, Martin refocused his passion from mortgage banking to business process software development by launching Acris Technology. His enduring vision becomes reality with the launch of Mortgage VCO in 2011. Acris Technology now offers its comprehensive and affordable suite of cloud-based, mortgage office management products to lenders commercially nationwide.