Many of the industry’s correspondent lenders have assembled a series of incomplete technology systems to perform the various complex functions of closed loan acquisition. This approach was born out of necessity since a complete system that meets the end-to-end needs of correspondent loan acquisition has proven elusive. Rather than spending millions of dollars to build a proprietary system, most correspondent…
Implementing new processes, policies, and software can be a challenge for any organization. Sometimes, two systems struggle to communicate with one another. Other times, key individuals may find it difficult to adopt the newly introduced element. Here at LoanLogics, we see these challenges every day as companies endeavor to start up our systems and, as a result, reconsider their policies…
Instead of a digital experience to manage the flow of data and decisions in situations like a negotiated trade transaction, many investors still rely too heavily on spreadsheets and phone calls. Often, this leaves both buyer and seller equally unsatisfied with the process and turn-time. Correspondent investors who bring together the 3 steps in the negotiation process through a digital…
Retail lenders and industry vendors alike will tell you they are investing in improving the customer experience to capture and retain new business. A result of a competitive market, choosing which lender to go with has become less about price and more about the experience borrowers have engaging with a lender’s brand. To deliver, retail lenders are focused on: Online…
Although 2018 should be a pretty good purchase market, business is getting increasingly more difficult to come by. Home prices are up, rates are up and so is the competition. How do you do more loans without drastically increasing expenses? Correspondent Lending! If you’re already purchasing loans through correspondent relationships, you have the basis to increase your production. You can…
With the decrease in mortgage originations, Correspondent and Wholesale Lenders are facing the prospect of having to acquire business from new sources. This means bringing in loans from new loan brokers in more areas of the country. That creates the challenge of managing the process of registering, pricing, approving, and closing more loans from a myriad of different lenders throughout…
