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This year we’re excited to announce that LoanLogics’ Executive Vice President (EVP) of Technology, Paul Vancheri, was named one of HousingWire’s 2021 Tech Trendsetters. This award, in its third year, honors the most 50 impactful and innovative technology leaders serving the housing industry.
With two new products released in 2021 (solutions for HMDA and MSR Transfer), a series of product enhancements and internal process improvements, it is no surprise Paul earned this industry distinction.
Get to know one of our executive leadership team members who brings great passion and personality to work each day in this Q&A.
You’re approaching your third year with LoanLogics. Tell us a bit more about your career prior to joining us here as EVP of Technology.
While this is my first role solely focused on the mortgage industry, I’ve spent the last 20 years in technology roles for the broader financial services industry, which makes me a veteran in not only financial services but in technology leadership positions. Over the years, I’ve helped companies, both as a consultant and as an internal IT executive, navigate through complex decisions involving technology, business strategy and operations. Given the path LoanLogics is forging and in achieving our growth strategy I’m excited to leverage my experiences to help drive the company’s initiatives. I’m also a veteran of the United States Air Force where I served 20 years developing and producing the highest technology for our Nation’s military before I began my career in corporate America.
Of all your team’s accomplishments in the last year, what are you most proud of?
That’s an easy one. First, this isn’t about me, it’s about the people that are on the technology team that work the countless hours on providing new products or enhancements to existing products for our clients. If you step back and look at the entire organization—we’ve been transformed! We’ve added QA capability we never had, we cross trained developers to work on more than one product, we’ve put new enabling process in place on the PM side of the house to deliver higher quality, we’ve brought in the right partner expertise to shore up the gaps, we delivered much improved infrastructure operations through hard work by that team, and we delivered on all our commitments in BPO and Support!! Our team has worked very hard across this massive spectrum and left no stones unturned. It’s hard to choose just one initiative to spotlight as our company covers a host of big platforms, each one having much success in their own right.
If I’m forced to choose, the delivery and maturity of our new on-demand loan processing capability and the associated introduction of client facing API capabilities in IDEA OnDemand, our doc processing digital assistant. It is a game changer for the industry. Now more than ever clients want flexibility for their users and to take advantage of existing technology investments in their workflows. Through these APIs our clients can pause the automation and have more time to make changes or corrections on specific documents with control to move them onto the next phase of document processing. Today, clients have the power to import a document and use any or all of LoanLogics indexing and data extraction APIs to skip, stop or start any part of the process. As far as we know, there is no other solution on the market that gives lenders and servicers so much control over doc processing automation creating strong differentiation for this product.
We also launched an API developer portal linked to the company’s website that centralizes all documentation, diagrams, instructions, and videos for each API. The goal here is to “make it easy to do business with LoanLogics”. The portal provides everything needed to create client specific workflows, again aimed at making it easier for them to do business with us. It is also just the beginning of what we have planned in the expansion of our API strategy.
Literally all of our products underwent significant change and upgrade this year and it truly took the entire organization to make those changes successful! We’re happy about the progress, our clients are happy about our progress, and we have the metrics to back up these lofty remarks. Our BPO and support teams continue to be the best in the industry!
Client satisfaction rates at LoanLogics are in the high 90s. How has your leadership helped contribute to that?
First and foremost, we have an incredibly smart team here at LoanLogics that is fully committed to helping our clients do business better. From a process standpoint, we practice collaborative innovation, which brings together technology, sales product, and client inputs to solve problems and create solutions. We have a premiere support team who is not only incredibly professional, they get a lot of credit for our high customer satisfaction, rates as they are the first line of defense when issues arise. One example involved a client who wanted LoanLogics to solve a very technical issue. We brought the team into very early discussions with the client which led to us offering the client not one, but several options to go forward—a fast solution to address the client’s immediate needs or more comprehensive options that could take more time but yield greater results. The client was pleased that we not only thoroughly researched the options, but that we took into consideration their overall needs.
It’s been a busy year for LoanLogics with all the company’s product announcements and now the acquisition of LoanBeam. When you have free time, where might we find you?
Doing one of my many favorite things—fishing, diving, traveling, cooking, being with family and friends!
What is the best advice you have or have ever received that helps you and your team be successful?
“Every good leader has a blind spot.” I was amazed when a 4-Star General shared that wisdom with me, so I’ve become keenly aware of my blind spots. I also know that absolutely nothing gets done in an organization without the right people, so I treasure the team that we have and do my best not to let them down! I have a ton of advice to offer people but only do so when asked… so ask away!
Meet some of our other 2021 LoanLogics industry award winners on our blog here and here.
