I’ve enjoyed writing the “Hey Boomer” blog series on b-Logics this year, which looked back at the way loan quality control (QC) was once managed in the mortgage industry and how its evolved. For my last post of the series, this will be the fifth and final, I’m diving back into defects. Recent industry volume got me thinking about…
Two weeks ago, LoanLogics took part in MBA Annual 2020, as we do each year. Many of the sessions, as well as conversations in our booth, discussed overcoming the unique obstacles of 2020 and forward-looking strategies for 2021. Wanting to take a temperature reading of opinion during this unique time, we featured a short market survey in our booth. Below…
In the mortgage industry, compliance is a day in, day out task that like everything else is affected by business conditions. This is particularly true in a year like 2020 that tested business continuity plans, affected staffing, and redirected much of our attention away from managing the normal ebbs and flows of business to juggling the latest hot potato. (Many…
When LoanLogics signs a new client, both for outsourced quality control and those using our LoanHD® audit platform, it’s common place for an account manager to check in to see if we are delivering as promised. We work with clients to assess the value of our technology, timeliness of our services and responsiveness of our support. This touch base also…
We are now in unprecedented times, and the importance of verifications and reverifications are even more heightened as the industry deals with the current health crisis triggering a tsunami of unemployment and economic strain. Advancements have been made in the industry to streamline the verification process, certainly helpful in a time like today, which ends up having a downstream…
The most effective loan quality technology should create transparency and consistently track quality metrics across the team and the business. Automation plays a critical role in creating purified data, taking on the brunt of audit tasks, facilitating auditor workflows and focusing staff on managing system identified exceptions. Accurate centralized reporting is also a key benefit and critical for establishing and…
