The latest upgrade to Paradigm Quest’s underwriting and servicing system, RUBI appears to mirror the diversification trend taking hold from one end of the industry to the next.
“RUBI was not just built to be a mortgage platform,” CEO Kathy Gregory told MortgageBrokerNews.ca. “This past October, Paradigm achieved a small yet important milestone when we converted our first non-mortgage portfolio onto the RUBI platform.”
RUBI (Revolutionary Unique Business Innovator) now includes a point-of-sale and mortgage application system, underwriting and workflow tools, loan servicing, collection and securitization reporting systems. Although Gregory isn’t specifying what non-mortgage portfolio was recently ported onto RUBI, the announcement is another example of the diversification driving growth across the channel.
Ultimately, an upgraded RUBI should position “the little company that could” into a global player, said one analyst.
That may be the direction Gregory is headed.
“We wanted to develop and underwriting and servicing system that was tailored to the needs of those directly involved in in the processing of a mortgage or other asset class,” she said. “As such, RUBI has the capability to service any financial service product around the world. She is multilingual and supports multiple currencies.”
Apart from the upgrades to RUBI, Paradigm will launch a mortgage broker web portal in November and provide web access to customers by the first quarter of 2013.