Business is still booming. The June 18th MBA Mortgage Finance Forecast reported in Q1 2021 refinance and purchase volumes outpaced 2020 and Q2 would see similar upticks, with purchase activity holding strong through years end. All good stuff, particularly for an industry that already experienced such unexpected good fortune in the midst of a global pandemic. With all this focus…
In the mortgage industry, compliance is a day in, day out task that like everything else is affected by business conditions. This is particularly true in a year like 2020 that tested business continuity plans, affected staffing, and redirected much of our attention away from managing the normal ebbs and flows of business to juggling the latest hot potato. (Many…
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…
It’s hard to believe that TRID is now almost five years old. But even as memories of the industry’s massive operational and compliance readiness efforts begin to fade, TRID errors continue to plague lenders. However, while there have been challenges along the way, a lot has still gone right that we can celebrate. The industry will continue to work its…
The 2020 spring conference season is fast approaching. One particular conference LoanLogics is looking forward to attending is the 3rd annual ComplianceEase Risk & Compliance Summit being held in Chicago this April. Because of the uniqueness and depth of our integration, LoanLogics is not only sponsoring and exhibiting, but our senior leader and chief business officer, Craig Riddell, will be…
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…
