Nov 07, 2018, 13:30 ET
SAN FRANCISCO, Nov. 7, 2018 /PRNewswire/ -- Riivos Mortgage, a division of Riivos, Inc., the provider of cloud-based continuous value chain management technology, today announced that NRL Mortgage, an originator serving customers coast to coast, is using the Riivos Mortgage Lending forecasting, planning and reporting application to help them analyze and capitalize on growth opportunities. NRL Mortgage is majority owned by St. Christopher's Holdings LLC, a privately-owned holding company based in Houston, Texas.
Riivos is a technology-meets-industry company that connects its customers' strategic goals to operational and financial reality. Riivos Mortgage Lending integrates key but disparate mortgage lending data and systems—LOS, payroll, hedging execution systems and others—to provide executives and their teams visibility into the future financial impacts of changing market conditions and business decisions. With Riivos, teams can make well-informed decisions for more predictable and profitable outcomes.
"We are expecting a challenging environment over the next few years and need a financial budgeting, reporting and forecasting solution that can help us continue to maximize profitability," said Chief Financial Officer Joe DeDominicis, NRL Mortgage. "We vetted several vendors and Riivos is the only vendor that specializes in the mortgage industry, so implementation was painless," he continued. "The Riivos team serves as a trusted advisor to independent mortgage banks and banks, so they delivered a solution that is customized to our operation and reduces our dependence on manual, Excel-based planning."
Riivos Mortgage Lending gives executives and their teams the power to drive accountability and improve performance across the entire mortgage origination value chain, delivering more basis points to the bottom line. And Riivos mortgage applications calculate and track key metrics—such as gain on sale, including valuation of IRLCs and loans held for sale—so teams have up-to-the-minute data on where they stand relative to financial and operational goals.
"For mortgage originators interested in driving more money to the bottom line, the first step is to put the right planning and forecasting system in place," said Michael McFadden, Group Head of Riivos Mortgage. "The next is creating a feedback loop and culture of accountability so employees begin feeling and acting like owners. That's when you start to see significant positive impact on the bottom line. We're excited to provide the team at NRL Mortgage the visibility they need into the future financial and operational outcomes of decisions they make on a daily basis."
Riivos is a San Francisco-based technology company, pioneering a new space in industry-cloud, continuous value chain management. Riivos real-time, industry applications let managers and their teams see the future financial ripple effects of business condition changes and management decisions across their entire value chain. With this clarity of the future, teams can take action to achieve optimal financial performance. Riivos works with companies in Mortgage and Mining, with plans to expand into Life Sciences and Oil & Gas. For more information: riivos.com/
About NRL Mortgage
Founded in 2007 and headquartered in Houston, Texas, NRL Mortgage is currently licensed in 45 states and the District of Columbia. We specialize in the origination of residential mortgage loans across the United States. These loans include conforming conventional loans, jumbo loans, loans guaranteed by the Veterans Administration, loans insured by the Federal Housing Administration, and loans backed by Rural Housing Department/ USDA. NRL has appeared on the Inc. 5000 list of fastest growing private companies, the Houston Chronicle's Top Workplaces, and the Houston Business Journal's Fast 100. For more information: nrlmortgage.com
SOURCE Riivos, Inc.
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