Level1Analytics, LLC has been selected by the Mortgage Bankers Association (MBA) to re-design the MBA's School of Mortgage Banking simulation model software. This software is used to train mortgage banking executives and managers in the complex dynamics of mortgage banking including best execution decisions. The updated software will be cloud-based and will more accurately reflect the actual interplay between often conflicting drivers of success in this industry.
The MBA's School of Mortgage Banking series includes three, four-day courses. The rigorous program created in 2005 includes two traditional classroom style courses and a capstone course that is interactive and discussion-based. This capstone course focuses on strategy and centers around a simulation that replicates the experience of running a mortgage lending operation over a period of eight quarters. During each quarter, participants are asked to make real world decisions concerning staffing (loan officers and back-office), distribution channels, hedging, product offerings and pricing, compensation, investments in technology and marketing, reserves for losses and a myriad of other decisions that mortgage executives face daily. Changing economic and regulatory scenarios over the simulation period adds realism to the exercise and often result in interesting and surprising financial results.
Level1Analytics will use their modeling software expertise to redesign the existing software. The focus will be on cloud enabling the software, allowing easier access to the program.
"We are working towards allowing the software to have infinite flexibility for future development and be relatable to current dynamics in the industry for our classroom students," said Dr. Thomas Healy, CMB, president of Level1Analytics.