While some could reduce their own origination fees in order to capture business, that is not a sustainable strategy in a market with fewer mortgage loan prospects. If the lender hopes to attract more business, they must focus on meeting the unique needs of today’s mortgage loan borrowers. It’s not realistic for lenders to compete on rate or even loan fees, as all lenders are tied to the same secondary market investors and third party service providers. In fact, in the eyes of the borrower mortgage lenders are the same. In an article......
Lenders always want to maintain a good level of liquidity across their portfolio. This means that once loans are funded, they will sell these portfolios to investors and the secondary market to bring back the capital in their business. This is only possible when investors do not see any...Continue Reading
Technological advancements have dramatically transformed many industries in the past couple of decades. While a bit later than other industries, the mortgage industry also has experienced a significant number of innovations in recent years. Lenders are now leveraging technology to outdo their competition as well as develop a more...Continue Reading
In the highly competitive mortgage industry, lenders are constantly on the lookout for effective ways of standing out from their competitors, attracting new customers, growing revenue, and controlling costs. Since there isn’t much room for variation in lending rates, superior customer service becomes a lender’s most compelling means of...Continue Reading
Mortgage processing usually takes up to 50% of the total closing cycle time. Furthermore, the quality of processing can have a significant impact on the closing ratios. Not to mention, it forms a major part of the loan production cost. Lenders who are leveraging the right technology and global delivery model...Continue Reading