I don’t think so. I’ll bet (if I were a betting man) that if we carefully analyzed the process to originate a new loan, we would find the cost to originate a loan has actually declined. What with online applications and the technology for consumer communication, information gathering and verifications, and automated loan approvals, less time is spent creating a…
It’s important to learn from history. So, we can avoid making the same mistakes, while capitalizing on what we did right. However, to remain successful, we can’t rest on what we did. We need to have a clear vision of what needs to be done in the future to stay successful. It’s nice to know that profits for Independent Mortgage…
The allowable fees and charges that a lender can charge a veteran are somewhat limited and they haven’t been changed since 1954. Think about it. What hasn’t changed since 1954? Wow, that’s a long time… Presently, the VA allows specific third party charges which are required in connection with the loan. They also allow a lender to charge a flat…
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…
