With the emphasis being placed on increasing loan production and capturing more business, it’s extremely important that lenders to not forget about loan quality and compliance. Maybe I’m preaching to the choir here. But, if we’ve learned anything from the 2008 debacle, it’s that loan quality and compliance are paramount to a lender’s success. Manufacturing a quality loan is more…
“We’re creating software robots to mimic what humans do [in mortgage lending]”, said Mark Davison, a partner at ISG, a technology research and advisory firm specializing in Robotic Process Automation (RPA). Mortgage lending is just now moving into the digital age and it appears it may leap right into robotic processing and maybe artificial intelligence. Are you ready for this?…
It’s not just Rocket Mortgage or Blink, many other mortgage lenders are launching systems for taking digital mortgage applications and handling loan closings. Seems everyone’s gotten the word. To service today’s consumer, you must have digital capabilities. It’s not just for the Millennials but for many other consumers as well. Most want the capability to shop, apply, communicate, and close…
Revisions to the Revised HMDA Rules With mortgage lenders just getting over the challenges created from the QM/ATR rules and TRID, they’re now faced with a new hill to climb; HMDA. CFPB just released a new proposal as Technical Corrections and Clarifying Amendments to HMDA. These are intended to update and clarify the new HMDA final rule it issued in…
It’s important for any business to have a profile of the customers they serve. It’s no different in mortgage lending. Yes, it’s easy to think that a mortgage lender’s customer is obviously someone who is financing a home, but there’s a little more to it. That’s a little like thinking that everyone coming to a wedding will dance to the…
I am very happy to announce that MarketLogics™, our free, daily newsletter, is now featured on Lykken on Lending Radio each week. The newsletter includes: Our nearly-famous song parody’s Market Summary Interest Rate Outlook Volatility Outlook Yield Spread Outlook Long Term Technical Outlook Intraday Technical Outlook MarketLogics Live! is a synopsis of one or two of these insights and, of…
