This may be the business slogan here at LoanLogics, but it’s never been truer than today. The business of making mortgage loans has gone through some pretty drastic changes over the past few years and lenders need to make changes in how they do business to keep up. New rules and regulations put much more emphasis on loan quality, compliance,…
Although 2018 should be a pretty good purchase market, business is getting increasingly more difficult to come by. Home prices are up, rates are up and so is the competition. How do you do more loans without drastically increasing expenses? Correspondent Lending! If you’re already purchasing loans through correspondent relationships, you have the basis to increase your production. You can…
Although 2018 may be the year of technology, customer service will still reign supreme. How you treat your customers and service their needs will determine your success. Mortgage lenders, as well as all service providers, are looking for better ways to provide their goods and services to prospective customers. To do so they are exploring and implementing the increased use…
With the mortgage business projected to be a little tougher in 2018, the industry needs to find ways to produce and close loans more efficiently. The obvious answer is through the increased use of technology. But, are lenders prepared to invest the time and money needed to implement such technology? Lenders can continue to do business as they’ve done in…
The recent hack of consumer personal information held by Equifax provides cybercriminals with multiple access points to consumer credit. Aside from the obvious threats to unlawful credit card use, the information obtained could offer the keys needed to open many more unlawful opportunities. The breach opened the door for access to Equifax’s The Work Number employment and income verification service.…
With the increase of FinTech, technology to support financial service operations, comes RegTech, the technology to address and monitor regulatory compliance. Today, we have the makings of digital mortgages, consisting of online applications, verifications, approvals and closing; the paperless, virtual mortgage. FinTech companies and processes were created to enhance the consumer experience while improving their communication and engagement with financial…
