There is certainly talk of lenders being ready to move the automation needle, but how many have actually made the leap? Hiring additional resources continues to be the go-to strategy for managing current volumes, with mortgage leaders not ready to admit they should have done the vendor/technology research months ago (perhaps even years ago) to gain efficiencies. In my last…
What a year it has been. You’ve been busy, we know it. It’s part of the reason all those vacation days have gone largely unused. I know mine have. But now there are just six short weeks left in 2020, some of which, I am certain, will be spent recharging during the holidays. The question is, is your organization prepared…
Welcome to part two of a discussion on how the pandemic has amplified the need for technology adoption in mortgage. In last week’s blog post, part one, we discussed how many lenders were left exposed in the pandemic unequipped with automated tools to facilitate access, accuracy, and productivity remotely. Thankfully though, there’s still an opportunity to adopt and train staff…
The pandemic is definitely driving home the importance of automation and virtualization of business process. Those with less automation or automation that is not Software-as-a-Service (SaaS) based have been left exposed. Lenders that are still on legacy systems, using manual procedures and paper-based documentation, have probably already realized they are at a deficit now. Hopefully going forward, that will motivate…
It’s hard to believe that TRID is now almost five years old. But even as memories of the industry’s massive operational and compliance readiness efforts begin to fade, TRID errors continue to plague lenders. However, while there have been challenges along the way, a lot has still gone right that we can celebrate. The industry will continue to work its…
Back in August, LoanLogics announced it was the technology provider behind the Freddie Automated Servicing Transfer (FASTSM) tool, helping Freddie Mac streamline its Cash-Released XChangeSM program. LoanLogics is also set to provide technology enhancements in support of Freddie Mac’s Co-Issue XChangeSM with the same technology. This was a proud moment for the company, given all the hard work our teams…
