Greystone MultiUnit implements MortgageFlex's LoanQuest.

MortgageFlex Systems Inc., Jacksonville, Florida, announced that Greystone MultiUnit LLC, New York, has implemented MortgageFlex's LoanQuest Residential Lending System in support of its activities in connection with the arranging of commercial loans.

Greystone MultiUnit--an affiliate of Greystone & Co. Inc., Middleton, Wisconsin--facilitates mortgage financing for mixed-use properties, small multifamily buildings and small commercial properties.

LoanQuest has extensive customization capabilities that allowed Greystone MultiUnit to add fields and screens in-house without incurring additional fees, explained Marc Katz, chief operating officer of Greystone MultiUnit.

"We needed an LOS [loan origination system] that not only supported our diverse requirements, but also could be implemented in a short time frame, with customizations ready to go," said Katz.

There are several options to customize the LoanQuest system, as users can move, copy, hide or place rules on any field in the system. Scripting allows advanced users to make extensions to the source code, essentially customizing the system on their own, said Katz.

"LoanQuest enables us to change the system as our products demand," Katz continued. "I was familiar with the LoanQuest system and their team from a prior position, and felt comfortable that they were a good choice for Greystone."

Lester Dominick, chief executive officer and founder, MortgageFlex Systems, said his company's clients "have found that starting with a fully functional system requires far less work to achieve the appropriate level of best-fit needed for differing lines of business.

"Our strategy is to provide mortgage lenders an integrated system that is easy to use and that reduces the net cost to produce loans," Dominick added. "We continue to experience growth due to this simple philosophy and our commitment to our clients."