Even though the TRID regulation will see its 4th birthday this October, we still see a lot of our blog traffic searching for this topic. It is likely because the strict penalties a misstep can cause, continues to keep originators up at night. Managing this process between multiple systems, using spreadsheets to compare fees and manual processes to compare document…
Without automation, monthly MERS reconciliation is an operational headache for servicers. Compliance teams are left to manually cull through thousands of MINs (Mortgage Identification Numbers), as well as format and process exceptions line by line. The result is compounding inefficiency and inaccuracy each and every month. By letting automation take the heavy lifting out of MERS compliance, Servicers can experience…
Driven by several economic factors, lenders who held mortgage servicing rights (MSR) in their portfolio in 2018 saw more profitability than those without, according to recent comments made by the MBA’s Vice President of Industry Analysis, Marina Walsh. In fact, servicing income more than tripled year-over-year, increasing from $64 per loan in 2017 to $203 in 2018 loan.[1] That’s the…
The data requirements needed to manufacture and decision a loan seem to be ever growing, as do regulator and investor expectations. Data is distributed across multiple document types, the loan origination system and a multitude of other sources. All this information needs to be verified and validated to ultimately come to the source of truth and support confidence in loan…
The industry is a buzz with the how artificial intelligence (AI) and machine learning will change the way we work and the benefits it will create for labor intensive processes. LoanLogics has certainly been at the forefront of that transformative conversation in a number of recent industry articles and webinar on the topic What has been talked about less though is how organizational…
In a prior post, we discussed how a frictionless transaction experience increases the likelihood a seller will return to do business with an investor. Now, we turn our focus to the role investors can have helping sellers improve the quality of their loans, which will further strengthen the relationship and foster repeat business between the two parties. Most professionals welcome…
