Fairway Independent Mortgage Cuts Time for Data Blending Using Monarch

David Rubin works in the Servicing department at Fairway Independent Mortgage.

In the Servicing department, he receives reports from investors and co-issue partners in a variety of different file formats. David must then blend, organize, and query that data, and uses Monarch to automate those processes.
My name is David Ruben. I work at Fairway Independent Mortgage Corporation under their servicing department. Our servicing platform basically takes the originating file brand new and gets it prepped to go to the subservicer. That means we have to notify the investors, like Fannie, Freddie, Ginnie to let them know, “Hey, we made this loan. You’re going to start seeing it in your books going forward from us and this subservicer.” Then we have to prepare the borrower information, all the payment histories, if they made anything in between the time that we give it to the servicer. There’s a lot of data that we have to prep, organize, and report to multiple different entities. A lot of the data we’re prepping involves a lot of conversion of file types that we get from other investors, co-issue partners. They come in different formats. The issue for us is that we need to be able to mine and query that data. When they come in different formats, you need a tool to bring it all together. That’s what Data Watch, Monarch specifically, was able to do for us. We have been using Data Watch, Monarch Complete specifically, for about six or seven months. We had heard a lot of good things about it. There were new hires that we had that bragged about it. They really encouraged it for some of the things that we were needing because we’re actually a developing servicing department. We were still needing the tools to be built in order to grow as a company overall. Other than the conversion tools and the really easy user interface, one of the big things that I liked about it when I first started learning more about the software was the ability for it to connect with SQL databases. We’re currently building that. The Monarch interface basically gives us all the front end GUI that we would need to use to run other queries, other reports, from other data that we import into our SQL server.

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