The complexities of Non-QM lending demand a strategic approach that combines innovation, efficiency, and resilience. Acra Lending has positioned itself at the forefront of this sector by investing in its workforce, optimizing processes, leveraging cutting-edge technology, and building a robust infrastructure. In this executive conversation, we delve into how Acra Lending is enhancing its operations to better serve its customers and navigate the dynamic market environment. Through insights shared by Craig Timmins and Brian Jones, we explore the initiatives and innovations driving Acra Lending’s success in the Non-QM space.
Investing in people
Zeb Lowe: How has Acra Lending invested in its workforce to better handle the complexities of Non-QM lending? What training and development initiatives have proven most effective?
Craig Timmins.: Here at Acra, we believe that a well-trained and cohesive team is essential for handling the intricacies of Non-QM lending. To achieve this, we’ve implemented a unique pod structure for our operations staff. This approach allows repeat customers to interact with the same team members consistently, fostering stronger relationships and better communication. This familiarity not only enhances customer experience but also improves efficiency for our employees, as they can quickly understand and cater to the specific needs of each client. Alongside this structure, we provide continuous training programs to ensure our staff remains knowledgeable and adept at navigating the evolving landscape of Non-QM lending.
Improving processes
ZL: Can you describe the process improvements Acra Lending has implemented to streamline Non-QM loan origination and servicing? How have these changes impacted efficiency and customer satisfaction?
CT: We’ve made significant investments in technology to streamline our processes and enhance both employee effectiveness and customer satisfaction. In January 2024, we updated our Loan Origination System and launched a new wholesale portal. These advancements have simplified the lending process for everyone involved. Additionally, we introduced an online appraisal quality checklist, enabling our Underwriters to review appraisals more swiftly and accurately. These improvements have not only boosted our operational efficiency but also elevated the overall customer experience, making interactions with Acra Lending smoother and more satisfying.
The role of technology
ZL: What role does technology play in Acra Lending’s approach to Non-QM lending, and can you highlight any recent technological innovations that have significantly improved your operations?
Brian Jones. : Technology is at the core of Acra Lending’s strategy for Non-QM lending. We’ve integrated intelligent applications and deeply connected services to gather comprehensive insights for smarter decision-making. Recent innovations include the implementation of TPO portals, warehouse management services, valuation analytics, and AI-driven workflows. These advancements are designed to enhance collaboration among our partners, customers, and internal teams, ultimately maximizing the value we offer. By leveraging these technologies, we’ve been able to streamline operations, improve accuracy, and provide a more efficient service to our clients.
Building a resilient infrastructure
ZL: How does Acra Lending ensure its technological and operational infrastructure is resilient enough to handle market fluctuations, especially given the volatility in the Non-QM sector?
BJ: Our infrastructure is built with resilience in mind, particularly to withstand the volatility of the Non-QM sector. We’ve made data-driven enhancements to our loan origination system, making it event-centric and intuitive. This allows us to perform multiple overlapping operational functions simultaneously, with minimal training required. Additionally, the flexibility and availability of our cloud infrastructure enable us to scale our operations efficiently and respond quickly to market changes. This robust setup ensures that we can maintain high performance and reliability, regardless of market conditions.
Craig Timmins is the Managing Director/Head of Credit for Acra Lending. Craig has been involved in finance for over 30 years. While holding positions in both sales, marketing and operations, Craig’s primary focus has been on credit and underwriting. Previously, Craig was a Vice President of Credit for Saxon Mortgage, Chief Credit Officer of People’s Choice Home Loans, and Vice President of Credit for HomeXpress Mortgage. Additionally, Craig worked for Promontory Financial Group and Grant Thornton providing consultant work for regional and national banks.
Brian Jones is the Managing Director of Technology Business Solutions for Acra Lending and a transformative leader. Committed to innovation, he was an early adopter of cloud computing and has always believed ‘best in class’ is achieved with a technology first vision. Having nearly twenty years of experience in mortgage lending technology, Brian’s accomplishments have traversed infrastructure through automation in lending processes. This, combined with his depth of knowledge in mortgage lending workflows, regulatory compliance, and emerging fintech, has proven a winning blend in his ability to deliver effective technology in origination systems and TPO solutions purpose-built for exemplary non-QM service delivery.
