The mortgage industry is adjusting to drastic market changes. Volume declines, macro global trends (i.e. war, supply chain) and the economy (i.e. inflation, rising rates) remain in our purview, adding to the uncertainty across industries. To realign with current volumes and offset rising costs, many have turned to staff reduction, evidenced by a survey of lenders at a recent…
Navigating 2022 mortgage trends with the right balance of technology is critical for success. In my last post on August 11th, I recapped and expanded my comments on several questions originally posed by MReport on that very timely topic, in the July feature article “Mortgage Tech Update, Part 1 and Part 2.” The questions, “What can the industry expect next in terms…
Earlier this month, I spoke with MReport about the balancing act our industry is performing to keep up with internal and external pressures in the two-part series titled, “Mortgage Tech Update, Part 1 and Part 2.” Given we are midway through 2022 and still adjusting to changing mortgage market trends and the role of technology top of mind for many,…
At LoanLogics we’ve been talking a lot about the latest mortgage industry trends with the hopes that it pushes the industry to do something different this year to effectively deal with them. As the reverification manager for the company, I too see and experience the impact of distinct trends during Pre-Funding, Pre-Closing, Post-Closing, Early Payment Default (EPD) etc, reviews in…
Looking back, It might have come as a surprise to some when in Spring of 2021 STRATMOR Group reported that somewhere between 20 and 30% of the loans sent to aggregators were not immediately purchased due to issues. No matter how you slice it – good or bad – an average of 25% is one notable percentage. Twenty-five percent chance…
The topic of tax seems to be a buzz these days. The annual tax filing deadline came and went last week, but not without some noise surrounding it. In January, the Internal Revenue Service (IRS) warned delays in taxpayer refunds were likely, as the agency navigates heavy 2020 rework volume and staffing shortages. Other IRS services were also marked at risk…
