Riivos Mortgage: trusted by the nation’s mortgage leaders

Together we’re creating value, realizing opportunities, and achieving higher financial performance at the speed of modern business.

Independent Mortgage Banker
Approx. $1bn Annual Originations
Multichannel: Retail, Consumer Direct, Correspondent, Wholesale
36 Retail Branches
260 Employees
Goals: Improve company profitability, achieve more accuracy and timeliness in forecasting, drive accountability throughout the organization

Forecasting in Excel is time consuming, so only done once/quarter
Financials not effectively distributed to operations
No easy way to involve department leaders in the forecasting process
Pressure from warehouse banks and investors to provide timely forecasts/estimates

Forecasts based on locks provide more accurate financial projections
Finance has more time to focus on analyzing opportunities for ongoing improved performance, instead of producing ad hoc reports
Firm ownership now reviews financial results and forecasts regularly via easy-to-understand dashboards
Data and financial insights are shared with sales to promote accountability for results
Head of operations is creating and running scenarios to help understand how productivity and processes affect headcount and financial performance

Spreadsheets for 80+ cost centers difficult to maintain
Collaborating on financials and variances with 80+ managers extremely time consuming
No way to track changes made to the system
No easy way for department managers to create scenarios to navigate changing markets

Mortgage Lending
Facilitate bottoms up department-level planning
Integration of data sources: GL, LOS, Cap Markets, Payroll
Branches and departments update volume and manage headcount in the system
Bi-weekly business reviews with department managers via dashboards to understand variances and prepare action plan
User-based permissions provide controlled access for 80+ users

Culture of accountability created within 6 weeks
A system of record for financial planning
Best practices instituted to manage financial process in each department, segment, channel and at corporate
Only 4-6 hours of maintenance required each month eliminating a full time financial analyst role: Savings of $120k/annually

Need to evaluate impact of pricing changes on the entire business
No easy way for capital markets to create pricing scenarios to navigate changing markets
Spreadsheets for margin management are difficult to maintain and not capable of scaling
No way to document all pricing changes and disseminate throughout the organization