March 19, 2018
SAN FRANCISCO, CA – MARCH 15, 2018 – Alight Mortgage Solutions, a subsidiary of Alight, Inc., the leading provider of cloud-based applications for budgeting, forecasting, financial reporting and scenario analysis, today announced that Norcom Mortgage has selected the Alight Mortgage Lending platform. Alight Mortgage Lending provides mortgage banking executives and their teams visibility into the financial and operational impact of decisions, before they are made.
Mortgage industry veteran Phil DeFronzo is CEO and founder of Norcom Mortgage. He also serves on the Mortgage Bankers Association’s Board of Directors and as Chairman of the Residential Board of Governors. “We’re a multi-channel operation,” DeFronzo said, “and Alight will help us determine the best allocation of capital across our different channels to optimize profitability, maximize our return on capital and improve performance.”
Alight integrates directly with mortgage industry data—general ledger, loan origination system, payroll, capital markets system, servicing system, among others—and pulls financial and operational data so that management teams can understand what drove historical performance and run forward-looking, what-if scenarios to see how operational changes or changing market conditions will affect financial outcomes. Armed with financial and operational information, management can make well-informed decisions—quickly.
“With Alight, we’ll be able to quickly and easily identify sources of variance from budget or expected performance and take immediate corrective action,” said Dan Humphrey, Norcom’s CFO. “Alight will also shorten the amount of time we spend on routine budgeting and forecasting,” he added.
“One thing absolutely critical for any mortgage lender is visibility into the potential financial and operational outcomes of the multitude of decisions they need to make on a daily basis,” said Michael McFadden, Group Head of Alight Mortgage, “and our application gives them that visibility.
“We are delighted that Norcom Mortgage has selected Alight as a partner to work toward meeting and exceeding their financial and operational goals for 2018 and beyond,” McFadden concluded.
About Alight, Inc.
Alight, Inc. is the leading provider of industry-specific, cloud-based applications that give customers the power to see the financial impact of every decision, before they make it. Alight works with companies in mortgage lending, mining and other industries.
Founded in Avon, Connecticut, in 1989, Norcom is a fast-growing generational lender serving families throughout the United States. The Norcom family offers customers a wide range of mortgage programs that fit their needs and superior customer service while placing an emphasis on speed, flexibility and low rates. The company gives back to the communities it serves through its outreach division, Norcom Cares. For more information: norcomcares.org.