Such instincts can make or break a company, but in Dynatek's case the gamble paid off. At a time when there has been considerable postponement of purchase decisions by lenders, Dynatek has found considerable success in the mortgage market. With between 8,000 and 9,000 seats, Dynatek moved into fourth place in market share among origination providers, and now trails Checkfree, Fiserv, and Interlinq. The reasons for the growth are straightforward. Mr. Luhtanen says the software is easy for lenders to implement, taking just 90 days, while competitors can take as long as nine months to implement their systems.
Lenders tailor our system to their needs and pretty soon it becomes their system.
Much of the growth results from new sales, which Mortech reports it has not seen for a long time. It's not fancy sales brochures or the addition of a new sales staff, or attendance at a Tom Peters management seminar, however, that explains the company's appeal to new clients.