Especially now when loan officers, processors and underwriters are slammed with volume, borrowers can become easily frustrated with a mortgage origination experience that is primarily driven by peoplepower. The manual classification of documents and extraction of data from them for entry into other systems can be the first weak link in a chain that causes errors. It makes for a…
The mortgage industry has gone digital, in parts. Full adoption has been curtailed because operationalizing digital labor takes concentrated care and feeding to truly realize the full value this workforce can bring to your business. Without it, automation will continue to be applied here or there, change management will remain a struggle and where you are using digital labor will…
In a recent blog post, one of our fellow LoanLogics associates discussed how the pandemic has changed the way we do business with one another these days. One big change of course has been the transition from in person conferences and events to virtual ones. Spring and Fall are traditionally the two big tradeshow seasons. Back in the Spring, many…
For many, summer means enjoying some riveting content lounging by the resort pool, on the beach or in 2020’s case, dipping your toes into your toddler’s blow up pool in the backyard. Wherever you are this summer, if you’re looking for some good relevant reads, we’ve got our “Best Of” to share with you. It’s been six months since we…
The mortgage industry has been fortunate in that we have not experienced the intense layoffs occurring in so many other industries. However, even with a healthy staff, the volume that we are seeing right now, coupled with the work from home distractions, lenders are having challenges scaling and meeting borrower needs in a timely manner. Lender mortgage pipelines are…
It’s been a little over six months since LoanLogics last shared some insight on the upcoming redesign of the GSE uniform residential loan application (URLA) here on blogics. With effective date now slated for November 1, 2020 (see URLA Implementation timeline changed below**), it’s a good time to discuss the change further: Changes being made to the form Things lenders…
