When Closing Day Meant Double Work

For members, closing on a mortgage is a milestone to celebrate. But at Lafayette Federal Credit Union, that finish line used to signal another round of tedious work behind the scenes. After a loan closed in the Calyx Path loan origination system, employees had to re-type the same details into Corelation KeyStone, the core banking platform.

Two systems. The same information. Hours of double work.

It wasn’t just inefficient – it created risk. A mistyped number or missed field could leave mortgage records out of sync, delay onboarding into the core, or trigger a compliance headache down the line. Members who thought their mortgage was complete sometimes waited longer to see it reflected in their accounts.

Meet Lafayette Federal Credit Union

Based in Rockville, Maryland, Lafayette Federal Credit Union has grown into one of the nation’s top-performing credit unions. It manages more than $2 billion in assets and serves tens of thousands of members worldwide. In 2022, Lafayette Federal converted to Corelation’s modern KeyStone core, consolidating data and enabling tight integration of third-party systems through KeyStone’s open API. The credit union even selected a new digital banking platform largely for its close integration with KeyStone — aiming to give members a modern, seamless experience across channels.

Yet for all these advancements, the mortgage team was still stuck with an inefficiency that technology should have solved: two critical systems that couldn’t talk to each other.

Where Things Broke Down

• Manual, duplicate data entry for every mortgage. After closing a loan, staff had to input the same information into two systems.
• Delayed loan boarding and account setup for members. New mortgages didn’t show up in the core (and in member account screens) right away.
• Typos and inconsistencies that had to be tracked down and corrected later.
• Compliance risks if reports from the LOS and core didn’t match. Audits could flag data mismatches between systems.
• Frustrated employees spending hours on clerical updates instead of helping members face-to-face.

How They Fixed It

To solve the disconnect, Lafayette Federal turned to MortgageExchange® from Access Business Technologies. MortgageExchange is a cloud-managed integration platform that bridges disparate systems in real time.

Lafayette Federal deployed MortgageExchange to connect Calyx Path and KeyStone, creating a direct, automated data pipeline between the LOS and the core.

• When a loan closes in Calyx Path, the data now flows automatically into KeyStone – no one has to retype it.
• Updates in the core that need to sync back to the LOS are handled instantly and bi-directionally, keeping both systems in lockstep.
• MortgageExchange’s rules-based engine validates each field so only clean, correct data moves between systems.
• The integration runs in the cloud (Microsoft Azure) with encryption in transit and at rest, ensuring sensitive data stays secure.
• Because it’s fully managed by ABT, Lafayette’s IT team doesn’t have to maintain custom code or worry about interface updates – the system just works.

The Big Wins

• No more double entry. Staff no longer waste time typing the same data twice. The integration eliminated duplicate input completely, freeing employees from hours of clerical work each week.
• Accurate, consistent records. With automation replacing manual re-keying, loan data is uniform across both systems. Fewer typos and mismatched entries means greater confidence in every mortgage record.
• Faster loan boarding. New mortgages now appear in the core banking system as soon as they’re finalized in the LOS. Members see their mortgage accounts updated almost immediately, vastly improving the onboarding experience.
• Lower compliance risk. Because Calyx Path and KeyStone are always in sync, Lafayette Federal can provide auditors and regulators with consistent, up-to-date data. Automated transfers reduce the chance of discrepancies that might have caused issues during examinations.
• Time and cost savings. By cutting out countless hours of manual data entry, the credit union has lowered operational costs and boosted productivity. Employees can focus on serving members and processing new loans instead of typing information over and over.
• Scalability for growth. The integration is cloud-based and scalable. As Lafayette Federal’s mortgage volume grows, the MortgageExchange solution scales with it – without adding IT burden.

Why It Matters

Fixing this one bottleneck has had ripple effects across the organization. Employees are no longer bogged down by double work, so they can spend more time with members instead of with spreadsheets. Members enjoy faster, smoother service – for example, seeing their new loan show up in online banking without delay. Compliance and reporting are stronger now that data is consistent everywhere.

In short, by connecting Calyx Path and KeyStone through MortgageExchange, Lafayette Federal turned a tedious back-office chore into a strategic advantage for both staff and members.

Read More

Explore more MortgageExchange case studies to see how other institutions are streamlining post-closing and eliminating manual re-entry.