The mortgage industry has been fortunate in that we have not experienced the intense layoffs occurring in so many other industries. However, even with a healthy staff, the volume that we are seeing right now, coupled with the work from home distractions, lenders are having challenges scaling and meeting borrower needs in a timely manner. Lender mortgage pipelines are…
Welcome to part two of a discussion on how the pandemic has amplified the need for technology adoption in mortgage. In last week’s blog post, part one, we discussed how many lenders were left exposed in the pandemic unequipped with automated tools to facilitate access, accuracy, and productivity remotely. Thankfully though, there’s still an opportunity to adopt and train staff…
The pandemic is definitely driving home the importance of automation and virtualization of business process. Those with less automation or automation that is not Software-as-a-Service (SaaS) based have been left exposed. Lenders that are still on legacy systems, using manual procedures and paper-based documentation, have probably already realized they are at a deficit now. Hopefully going forward, that will motivate…
Welcome to Cloud Coverage, a new series of blog posts that will explore everything you need to know about to cloud technology in the context of mortgage lending. This is the first installment. Stay tuned for future insights. Cloud-native is a bit of an emerging term in the mortgage industry, while “in the cloud” or “cloud-enabled” are more familiar software…
For those of us in technology, we have all heard it before, “Just sign on the dotted line and you’ll be up and running in no time!” But the reality of it is, implementing new software is never quite that simple. With over 13 years of project management experience, I can assure you that with some careful upfront planning technology implementation…
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…
