bankingciooutlook

Scienna: Pioneering Advanced Loan Review Systems

Peter A. Krell, Founder & President, SciennaPeter A. Krell, Founder & President
Scienna began its journey in 2008 with the goal of removing the barrier to entry for companies striving to gain a foothold in the mortgage loan review space. It was a period of intense turmoil in the mortgage industry, and the U.S. braced itself for a long, painful downturn in the aftermath of the subprime bubble. The recession had caused a sharp decline in trading volume, and private label securitization was all but non-existent.

Amid this economic mayhem, Peter A. Krell, an accomplished professional in the mortgage-related service space, observed that there were no commercially available software and related services to support loan review activities. All providers were reliant on home grown systems of mixed quality, which were not flexible enough. While the mortgage market eventually bounced back, future entrants to the field needed to invest considerable time and money in software development to compete.

Scienna has leveled the playing field for new companies by providing ultra-flexible internet based software and technical services to support a wide variety of mortgage-related file review activities.

Scienna’s Andor loan review platform is based on a robust proprietary rapid development framework that supports loan related due diligence and file review activities.

“Our platform allows for the creation of secure, internet-based software systems with incredible development speed and efficiency,” says Krell, Founder and President of Scienna.

Andor’s flexible architecture enables loan review and data capture content to be completely data-driven and customizable to meet client needs.

The flagship product utilizes the Microsoft SQL Server© database platform, which is robust, secure, and compatible with leading reporting tools. All application data, forms, and logic are stored centrally on the server.

Andor’s user interface is designed to be rich and responsive, featuring built-in multilingual and multicurrency support for international projects or domestic Spanish loans.

With an intuitive interface, Scienna ensures that end user training is quick, while providing them with world-class support.

“Apart from leasing our unique software framework, we support our clients in many additional ways, effectively serving as a full-service, outsourced information technology department in the loan review business,” says Krell.

Scienna supports a broad range of engagement types with Andor, such as acquisition-driven due diligence for residential mortgages and REO, RMBS securitization and sale support in the U.S., Latin America, and Europe, and for government agency loan portfolios.

A differentiating feature and core value of the platform is SciennaRules, the proprietary rules engine used for the storage and management of application business logic. The logic of each rule can be viewed in ‘Code’ or ‘Plain Language’ view, offering increased transparency for non technical application stakeholders.

SciennaRules can also be integrated with the user interface (UI). It can manipulate all the properties/attributes of the data fields and screen controls, ensuring a rich user experience, fewer errors, and increased reviewer productivity.

  • Apart from leasing our unique software framework, we support our clients in many additional ways, effectively serving as a full-service, outsourced information technology department in the loan review business


Scienna Support Suite, consisting of a powerful proprietary rule manager utility, form designer application, and project management facility, allows non-technical personnel to perform the majority of tasks for basic mortgage loan system construction and customization.

From start-ups to established firms, Scienna has an apt solution for clients’ specific needs. In one instance, a start-up turned to Scienna for its due diligence needs, aiming to enter the U.S. market and compete with larger providers in the industry. It did not have its own software platform to perform reviews. Scienna provided the company with a baseline residential mortgage due diligence system. Over the past nine years, Scienna has also constructed custom systems for the client for many mortgage products and audit types. The client has grown into a successful mid-sized company, reviewing thousands of loans per month, and is one of Scienna’s top two clients.

Scienna is focused on solving problems in novel ways, and its exceptional services enable it to be more flexible and responsive to the changing needs of its customers.

Share this Article:
Top 10 Retail Banking Solutions Companies – 2022
Scienna

About Scienna

Company
Scienna

Headquarters
Delray Beach, FL

Management
Peter A. Krell, Founder & President

Description

Founded in 2008, Scienna LLC provides flexible internet-based software and technical services to support a wide variety of mortgage-related file review activities. Its clients are primarily lending industry mortgage due diligence, loan file review, and business process outsourcing (BPO) companies.