Case Study
Mutual of Omaha Mortgage
Product Offerings:
- Construction to permanent loans
Goals:
- Become market leader in construction lending
- Exceptional customer experience
Land Gorilla Solutions:
- Draw management software
- OneSite app
- Inspections
- Builder and Project Reviews
“It was clear that Land Gorilla was not only the best option for us, but could also be a partner that we felt comfortable with, that would continue to be innovative”
Jimi Fitch
SVP of Operations,
Mutual of Omaha Mortgage
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600+
Branches Nationwide
+6,000
Employees
50
Licensed in all 50 states
Mutual of Omaha was founded in 1909. For more than 110 years, Mutual of
Omaha has remained strong, stable and secure, guided by their mission to
help their customers protect what they care about and achieve their financial
goals.
Visit Mutual of Omaha Mortgage at https://mutualmortgage.com
600+
Branches Nationwide
+6,000
Employees
50
Licensed in all 50 states
Mutual of Omaha was founded in 1909. For more than 110 years, Mutual of
Omaha has remained strong, stable and secure, guided by their mission to
help their customers protect what they care about and achieve their financial
goals.
Visit Mutual of Omaha Mortgage at https://mutualmortgage.com
Introduction
For over a century, Mutual of Omaha Insurance Company has been a name that their customers can count on. In 2018, Mutual of Omaha acquired the mortgage division assets from a bank for the creation of Mutual of Omaha Mortgage
The Problem
The mortgage division soon found that their clients asked for construction loans.
Mutual of Omaha Mortgage listened to their clients’ requests and set out to develop a construction program. As the construction lending program developed, leadership quickly identified the need to work with a trusted partner to help them uncover best practices of construction lending that can only be gained through experience.
The Solution
According to Senior Vice President of Operations, Jimi Fitch, partnering with Land Gorilla was “a natural fit”. He recognized that Land Gorilla was an established name that could help Mutual of Omaha Mortgage with some of their biggest challenges managing construction loans. “We needed a good advisor for our single-close construction program,” stated Fitch. “Land Gorilla fit the bill. I could tell the Land Gorilla platform wasn’t something that was built overnight. You could see everything put into it throughout the years, and probably lessons learned, that we can gain from as well. We want to work with the best and be the best.”
“We needed a good advisor for our single-close construction program…Land Gorilla fit the bill.”
Jimi Fitch
SVP of Operations,
Mutual of Omaha Mortgage
The Experience
“The Land Gorilla system is very user friendly. The onboarding process was seamless and easy”
Morgan Alderete
Processor,
Mutual of Omaha Mortgage
Customer Service
The experience that Mutual of Omaha Mortgage has with Land Gorilla has been “awesome” as referenced by Morgan Alderete, a processor at Mutual of Omaha Mortgage. She attributes the excellent customer service from Land Gorilla to a support team they can rely on. Echoing Fitch’s sentiments, Alderete stated, “One thing I love about Land Gorilla is the customer service. We ask a question, and we have an answer right away.” Within one week of the onboarding training, she was able to import loans through the integration with Encompass® by ICE Mortgage TechnologyTM, and order builder reviews and project reviews. She stated, “The Land Gorilla system is very user friendly. The onboarding process was seamless and easy.”
OneSite Mobile and Web App
Alderete praised Land Gorilla’s OneSite application. OneSite is a mobile and web application that the contractors and borrowers use for draw management. It provides visibility to the progress of the project, access to the budget of record, and serves as an avenue for loan stakeholders to request draws and communicate with their lender. The application can also allow for automated progress inspections and title updates to be ordered. Alderete stated, “OneSite allows the borrower to track the progress of payments to the construction of their home.” As they continue to build their program and increase their volume, Alderete anticipates a positive response from their customers.
The Experience
Program Development
Aside from the platform, Mutual of Omaha Mortgage engaged with Land Gorilla’s Program Development services.
“The ability to be guided step-by-step on developing a program, including asking questions and receiving feedback, is what sets Land Gorilla apart from other solutions,” said Fitch. One key suggestion Fitch received from Land Gorilla was about focusing on builder relationships. He expressed that when he met with Land Gorilla, the advice provided a new perspective.
Builder and Project Reviews
Mutual of Omaha Mortgage utilizes additional Land Gorilla services such as builder and project reviews, draw support, and progress inspections. When asked about their experience on ordering builder or project reviews, Alderete stated, “It is very easy to import project
and builder documents, and I love that you get confirmation the order was submitted right away. The builder acceptance and project review reports that we get back are easy to read. Everything is broken down to help us know if something is missing such as a signature or if a document is required. It’s very clear, especially the outlined conditions that are needed.” According to Fitch, it was Land Gorilla’s services that were instrumental in scaling their program. The ability to mitigate risk through pre-close reviews and have Land Gorilla manage the draws will allow Mutual of Omaha to continue developing processes that strengthen their one-time close program.
“The builder acceptance and project review reports that we get back are easy to read.”
Morgan Alderete
Processor,
Mutual of Omaha Mortgage
Reporting
Alderete expressed that the entire Land Gorilla platform has exceeded their expectations and is looking forward to uilitizing all of the platform’s features, especially reporting. The Land Gorilla platform provides instant access to data for critical reporting, such as loan level draw reports, end of year reports, contractor reports, and pipeline reports. These reporting options are powerful tools to audit pipelines, track progress of loans, examine draw turn times, manage productivity, monitor communications, and even create reports on any custom information in the system.
The Future
Mutual of Omaha Mortgage’s goal is to be the number one construction team in their market. They are confident that as the relationship with Land Gorilla continues to grow, they will be able to achieve their goal and provide their borrowers and builders with an excellent experience from start to finish.
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