Mortgage automation platform, Floify, announced the results of an industry-wide study on loan officer recruitment and retention. The study solicited over 13,000 mortgage originators, specifically loan officers, branch managers, and area sales managers. The analysis focused on LO’s with an annual loan volume of $21 million or more in order to distinguish the needs and […]
The Consumer Financial Protection Bureau recently finalized new regulations for loan servicers. Soon, mortgage borrowers who have filed for bankruptcy will have the right to demand greater transparency and more communication from the companies that service their loans. This is a key change. Under the CFPB’s former mortgage rule, servicers did not have to provide […]
Correspondent lenders and loan aggregators are challenged with the processes, tools and technologies they use for loan acquisition. They find themselves using a combination of multiple, one-off systems and services built around a loan origination system, whose single purpose is for the manufacturing of loans not the due diligence and validation of loans that have […]
As the housing market continues to recover from the Great Recession, the overall number of foreclosure starts has fallen on a nationwide basis. However, there are more than a dozen states where that trend reversed this year, and foreclosures completed in the second quarter of 2016 took an average of 629 days. For communities dealing […]
While the industry has been talking about paperless mortgages for years, the main focus has been digitizing the application. However, new regulations, technologies and customer expectations are driving digitization all the way through to the closing table. Today, the end-to-end eMortgage is within reach. This eBook explains how banks, credit unions and lenders can take […]
Historically, the loan origination process has included a number of slow, resource intensive, manual, paper-based underwriting steps that not only make it difficult for borrowers, but also represent risk for lenders and Government-Sponsored Enterprises (GSEs). Particularly when it comes to liquid asset location and verification, relying on borrowers to furnish accurate information can undermine the […]
Websites are now the primary point of sale in many industries, however mortgage brokers continue to finalize their sales in person. Mortgage websites struggle to transform their websites into effective sales tool. With the implementation of live chat as an essential customer engagement tool, mortgage websites will now have a proven strategy in place to […]
The mortgage lending industry is an ever-growing target for data thieves. Given the number of potential victims at risk, and the value of the data they hold, organizations that operate within the lending industry are at wide open targets for data thieves both externally, and internal to the organization. Now that TRID is fully implemented, […]
We all know that just managing business often gets in the way of increasing business. Add to that the challenges inherent in today’s mortgage marketplace, and getting new customers and keeping them around can seem like a daunting task. Read this eBook to see how five effective CRM strategies can help you expand business, and […]
Organizations implement vendor risk management programs as a formal way to evaluate, track and measure third-party risk; to assess its impact on all aspects of your business; and to develop compensating controls or other forms of mitigation to lessen the impact on your business if something should happen. A program of this nature gives you […]
Making mistakes in the lien release and assignment process can be costly for mortgage servicers and investors, who are facing increased scrutiny from regulators. But managing this process requires complying with a myriad of local, state and federal regulations while adapting to each county’s technology capabilities. Which of these mistakes is your company making, and […]
There is a shakeup occurring in financial services. Is your mortgage business prepared to compete with fintech firms and alternative lenders for tomorrow’s mortgages? As established lenders make their way out of the compliance weeds, what are some of the emerging trends, technologies and customer-centric strategies that can help make a difference today and in the future? To […]
There’s no denying that the TILA-RESPA Integrated Disclosure (or Know Before You Owe) rule (TRID) made its presence known long before it took effect on October 3, 2015. The rule required lenders to replace the Good Faith Estimate and the initial TIL disclosures with the Loan Estimate (LE), and the Final TIL disclosure and the […]
Because you want to close more low-down payment mortgages and here’s how. In December 2014, Freddie Mac officially rolled out 97% loan-to-value products. At the time, officials from the Federal Housing Finance Agency said that they expected the low-down payment loans to represent a small portion of the government-sponsored enterprises’ business moving forward. In 2015, high-LTV loans represented only approximately […]
If you’ve looked at a mortgage management solution recently, you’ve probably heard the terms “customizable,” “configurable,” “end-to-end,” “all-in-one.” Ready for the inside scoop? A configurable, all-in-one solution delivers the visibility, compliance safeguards and flexibility today’s mortgage lenders need, without the inherent risk of moving data across multiple systems. Set up the workflow you need, increase […]