Summer 2018 Newsletter

Support Update

We hope you are enjoying our new Customer Portal support site. There you will find current and past tickets submitted to support, documentation, Lunch & Learn & release recordings, announcements, and knowledge base. We have also updated our process for taking a new release, to schedule your update, please use this link.

Development Update

We are wrapping up LMS Version which will include a new report engine for Loan Presentation reports. The new engine will be able to better handle pasted tables as well as provide improved speed and performance. Look for an announcement in the near future when this release is available for distribution.

Interesting Reads

CEO Corner: Top Bank Risks of 2018
The ABA Banking Journal in December 2017 published its “Top Bank Risks in 2018”. Included in this list were Security and Cyber Risk, Third-party Risk, Regulatory Uncertainty, Talent Management, and Lending Risks, which is back on deck for renewed attention. Since this article was issued, per the S. 2155 law, regulatory uncertainty has been tackled to some degree. The banking risk that caught my attention was the listing and supporting narrative around ‘Lending Risks’. If you have followed me over the years, I focus on lending and credit risk and the systems used to manage such risks. The following is an excerpt of the ABA Banking Journal article written by Julie Knutson on lending risks and the need for renewed attention.

Key Banking Provisions of S.2155
S.2155 was signed into law earlier this year. Most of the provisions are effective immediately while others require agency rule-making before they go into effect. The regulatory relief includes simplified capital rules and relief from Basel III, mortgage lending red tape, less intrusive reporting, and examination, and other regulatory relief. ICBA worked hard on this new law and fighting for relief from burdensome regulation.

Employee Spotlight: Scott Wickham

Our featured employee this quarter is Scott Wikham, a member of our development team. Scott has been with Suntell for over 20 years! He loves the challenges of development and has learned more about banking in his 20 + years than he ever imagined. Read More…

“Because when you stop and look around, this life is pretty great!”
-Dr. Seuss

New Customers

Suntell is pleased to announce the following new customers that have joined us since our last newsletter:

  • Beloit, KS
  • Paris, TX
  • Spencer, IN
  • Kimberly, WI
  • Trenton, TX

Happy Anniversary

We like to recognize our customers that have been with Suntell for 5, 10, 15, and 20 years. Thank you for your continued business and support!  We truly appreciate the loyalty of our customers. In the second quarter of 2018, the following customers have celebrated milestone anniversaries with us.

  • Cook, NE (5 Years)
  • Kemp, TX (15 Years)
  • Seward, NE (10 Years)
  • Silver Bay, MN (10 Years)
  • Necedah, WI (15 Years)
  • Amboy, IL (15 Years)
  • Beaver Dam, WI (15 Years)
  • Denver, CO (5 Years)
  • South Bend, IN (5 Years)
  • Lake Elmo, MN (5 Years)

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How does a loan origination system work?

An LOS is defined as a system that automates and manages the end-to-end steps in the loan process – from the application, through underwriting, approval, documentation, pricing, funding, and administration.

What is the difference between loan origination and underwriting?

A loan officer is someone who works for a bank or credit union or other financial institution and offers loans to borrowers, while an underwriter is someone who analyzes documents from potential borrowers to determine if they are eligible for a loan.

What are the benefits of loan origination software?

By now, lenders are well versed in the benefits of a digital loan origination system, such as: Providing borrowers with easy, streamlined, and digital applications. Providing bankers with automating spreading and financial analysis tools.

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