Executive Conversations is a HousingWire web series that profiles powerful people in the financial industry, highlighting the operations and the people that make this sector tick. In the latest installment, the Housing Wire team sat down with Alok Bansal, managing director of Visionet Systems, to discuss zero-cost technology — an alternative to the buy vs. build conundrum lenders often face. Q. What are some of the challenges for lenders as they consider whether to buy or develop new technology solutions? A. Lenders today are battling with high-interest rates, declining loan applications, and higher cost......
When it comes to solid technologies that have been in use for many years, Optical Character Recognition has been around for nearly a century. Believe it or not, the first examples of OCR were in development in 1914. Of course use of OCR to translate information on paper documents...Continue Reading
Mortgage lenders across the industry are reporting high levels of stress as they struggle to maintain loan volumes in an increasingly challenging environment. Volume is down, refinances are dwindling in the face of steadily increasing interest rates and more lenders are competing for a smaller group of purchase money...Continue Reading
The advent of the fully digital mortgage process is just around the corner Pundits have been hailing the arrival of the paperless office since computers entered the workplace. Still, completely digital mortgage enterprises remain a rarity. Even absent a fully digital mortgage world at this point, one thing is...Continue Reading