Mortgage Capital Management (MCM) provides pipeline risk management, secondary marketing consulting, servicing valuation, trading, and hedging services for mortgage bankers. MCM enables its clients to increase profits and reduce earnings volatility by applying sophisticated, proven analytical techniques and modeling and execution practices developed through close to 40 years of successful mortgage banking experience by its principals.
FSI was tasked with converting the sophisticated Excel-based mathematical models that MCM relies on into a complete, modern Microsoft SQL Server-backed, Web Services-based solution. After the successful completion of the project on-time and within budget, FSI continues to provide custom software development services to maintain and enhance the system, constantly developing new features pivotal to MCM’s continued success.
Objectives
The primary objective of the project was to completely re-engineer the MCM modeling software to:
1) Minimize the need for human interaction.
2) Consolidate client models.
3) Provide Web-based, anywhere access to the MCM reporting products for both MCM employees and clients alike.
Originally MCM had maintained separate models for each client which required MCM to modify each model individually whenever market changes resulted in adjustments to the base model. This limited the number of clients that MCM could serve and required heavily involvement by personnel in the maintenance of the various models. MCM wanted to grow its business and needed a better software system to run its client models.
Results
Forward Slope performed system and software engineering tasks for the requirements, design, implementation, integration, test, and support of MCM’s new software system and customer support tools.
Forward Slope developed a custom XML-based Rules Engine to create a flexible mechanism for performing an extensive set of calculations while allowing for customization for each MCM client. Forward Slope also developed, deployed, and currently maintains a comprehensive set of rules common to all clients as well as each client’s custom rules specific to their needs.
FSI support to MCM has resulted in a modern Web-based software system that has eliminated the need for MCM personnel to participate in the model-execution process and resulted in a high satisfaction rate among MCM’s clients. FSI’s technology tools have enabled MCM to increase its business by over 300% without having to invest in any additional infrastructure or personnel overhead thus achieving a significantly high ROI on the project.