In the title industry, you often need to work with multiple systems, that of the lenders as well as help your vendor partners organize the orders that they receive from you. All of this, if done manually will create chaos. It makes sense to have ready integrations to these different systems. A lot of title agents also tend to use a title production platform to ease their challenges. The biggest thing you should worry about there is the ease of use and faster adoption of the platform by your teams. If that does......
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Amidst all the volatility, what can a SMB Mortgage/Title Company do to Survive?
The fortunes of the lending industry have seen some significant swings due to reducing volumes, increased compliance cost and margins hitting an all-time low. There has been a lot of talk about digital mortgages and technology, but the adoption of these technologies and the return on the technology investment...
Continue ReadingWhat can Title Agents do to Streamline their Closings?
In the title industry, you often see deals on both sides of the table: lenders handing off business to their preferred title agents and underwriters and at the same time, title agents handing off this business to several of their trusted partners/vendors. Multiple parties are involved in almost every...
Continue ReadingThe Most Common QC Mistakes Lenders are Still Making
There are plenty of risks associated with mortgage loan approvals which are known to the industry participants. These risks are associated with both, the lending institution, and the borrower. If a borrower’s documents are not in order, their application for mortgage will most likely be denied. If for some...
Continue ReadingEvidence that Mobile is a Winning Strategy
Rocket Mortgage blasted into our world during 2016’s Super Bowl 50, a contest between the Broncos and the Panthers. At its peak, the game attracted more than 115 million viewers, and right in the middle of it all Quicken Loans debuted their spot for Rocket Mortgage. It changed everything....
Continue ReadingHow Wholesale Lenders can get Ready for the Secondary Market
Wholesale lenders regularly sell their loan portfolios in the secondary market to raise liquidity but dealing with investors and their due diligence vendors is not easy. They have stringent demands in terms of the health of the portfolio. After all, they want to make sure that there are minimal...
Continue ReadingMeeting the Needs of the Next Generation of Mortgage Borrowers
It’s not just the mortgage industry that is learning that today’s consumers are not the same as past generations. Their aspirations are changing, and everything else along with them. Millennials are becoming the movers and shakers across all industries, making their mark in electronics, automotive, soft drink, vacation and...
Continue ReadingWinning Back the Mortgage Borrower
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...
Continue ReadingUnderstanding Why Borrowers Love the Mobile Experience
Kabbage, the online financial technology company based in Atlanta, in a recent report which analyzes the lending behavior of 150,000 borrowers, came out with astounding facts: 17% small business loans get accessed on mobile. By the end of 2018, 20% of loans extended will be via a mobile device....
Continue ReadingMaking e-Closures a Reality for Wholesale Lenders with Smart OCR
The mortgage industry has seen a lot of changes as well as challenges in recent years. According to a recent (Q1 2018) Mortgage Bankers performance report published by MBA, average monthly closings per sales employee dropped to 4.8 loans from 5.9 units in the fourth-quarter 2017 and 5.0 loans...
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