The mortgage industry has gone digital, in parts. Full adoption has been curtailed because operationalizing digital labor takes concentrated care and feeding to truly realize the full value this workforce can bring to your business. Without it, automation will continue to be applied here or there, change management will remain a struggle and where you are using digital labor will…
LoanLogics is often asked for specific examples of where machine learning can make impact along the mortgage value chain and of course, as a regtech provider, we have found practical application in loan quality management. Early application of machine learning technologies are being used for the creation of verified, validated data (or what we’ve termed “purified data”), that powers…
Welcome back to the series, Millennials Mortgage Process! Buckle up for this post, because initial disclosures, mortgage paperwork, and loan estimates are certainly a bumpy ride. “Initial disclosures are the preliminary disclosures that must be acknowledged and signed in order to move forward with your loan application. These disclosures outline the initial terms of the mortgage application and also include federal and state required mortgage disclosures.” Initial disclosures are terrifying.…
Welcome back to the series, Millennials Mortgage Process! In this post, I’ll give you a glimpse into the hectic first steps of the mortgage process, and just how quickly the pre-approval process takes in today’s digital mortgage world. My fiancé and I officially started to look at houses. We were using Zillow to find houses/townhomes/and neighborhoods that were…
Welcome back to the series, Millennials Mortgage Process! Today’s topic is about the best thing smartphones have given us in the last few years: Apps! There are a lot of different Apps to use when searching for and buying a home. Here’s a short list of the most helpful Apps I’ve been using for the past year: Zillow– I started…
Today we are going to discuss the confusion surrounding the application of real estate tax credits to the borrower’s closing costs and (MRI) minimum required investment, when applicable. If you are just as confused, this blog is for you. In some state’s property taxes are paid in the arrears which means that the borrower is paying for “services” the municipality…
