Source: Mortgage News Daily —
“Where can you always find money? In the dictionary.” Plenty of lenders and finding the money to buy other companies while smaller ones are looking for the right buyer. Eat or be eaten seems to be the name of the game as lenders hungry for production are courting other lenders. Some just get out of the game entirely. (See lender and investor section below.) Cutting costs and being efficient continue to be of paramount importance regardless of plans for the future. Is the credit process cost effective and efficient? Yesterday I mentioned changes in the credit world and received, “Rob, when will companies learn that there are ‘too many snouts in the credit trough’? There’s Fair Isaac, the Bureaus, and the credit resellers. It is not a level playing field, and now, like the old days of having different gfees for different lenders, lenders are slotted into ‘tiers’. In the next few years, we’ll be moving from a tri-merge environment to a bi-merge environment. Regardless of what comes our way, the overall construct of this portion of our business is shaky.” Editor’s note: “Shaky” is not good in this environment. (Today’s podcast can be found here and this week’s is sponsored by SimpleNexus, an nCino company and homeownership platform unites the people, systems, and stages of the mortgage process into one seamless, end-to-end solution that spans engagement, origination, closing, and business intelligence. I go on today’s podcast to talk with Robbie about the industry ramping up mortgage travels and how mortgage market cycles have historically played out.)
Lender and Broker Software, Products, and Services
“Are you on the road to seamless servicing success? Or are you stuck on the side of the road as others pass by? There is a tremendous opportunity for servicers who may lag behind in innovation and technical modernization. Don’t wait to be overtaken by increasing interest rates, delinquencies, disasters, and old habit workarounds. Prepare for whatever lies ahead, whether it be onboarding new products, new ways of doing business, operationalizing new CFPB servicer procedures, or appraisal bias regulation. Speed forward with easy-to-implement, modern process automation designed to meet your unique needs. Our latest blog shows how CLARIFIRE® puts the control in your hands with meaningful features that help you deliver real-time, 24/7 access to critical data, and complex decisioning available from any device at any time. Meet us at MBA Servicing Conference and Expo (booth #802) to see how CLARIFIRE offers seamless servicing, proven innovation, and truly BRIGHTER AUTOMATION®.”
Is your team smaller this year? What’s the best way to restructure your company in these changing times? Firstline Compliance will help you navigate the changes so you can do more with reduced staff in key operational roles and still be successful. We are a leading consultant in the mortgage industry, with a team that averages 25+ years of mortgage operations, compliance, and technology experience. In other words, we know mortgage. In addition, we keep our costs low to help you maximize your ROI. Contact us today to find out how we can provide you with the help you need.
Appraisal Management Companies are a commodity, right? Aren’t all AMCs basically the same? NOPE! With Triserv, you don’t just get a simple appraisal report. You also benefit from six different types of intelligence bundled into one company. Click to read more about our Six Types of Intelligence. Brought to you by Triserv, a 50-state AMC that has client-specific, dedicated teams on both coasts offering high-touch, personalized service. To find out more, contact Triserv Appraisal Management Solutions.
“Universal Component Lender Services (UCLS) will be attending the MBA Servicing Solutions Conference this month in Orlando. Improve the performance of your portfolio and retain more customers. With our component services, UCLS can enhance customer experience, improve customer retention, provide efficiencies to your workflows, and reduce costs. Our call center provides retention calls, servicing transfer calls, welcome calls and more. We provide collection services, loss mitigation, foreclosure, bankruptcy, and claims processing, all as individual components. Helping with as little or as much as you need, UCLS also provides advisory services for bringing servicing in-house, making a change to your current servicing strategy, and providing compliance oversight and QC services for our clients. UCLS was formed to bring these servicing solutions to banks, credit unions, mortgage bankers and portfolio managers. UCLS is changing the way companies are addressing and improving their mortgage servicing needs. Contact Joe Amoroso to schedule a meeting at the MBA Conference, or with any questions regarding our services. You can also visit us at booth #511 or online.”
Artificial intelligence and machine learning technology is ushering in a brand-new world for mortgage lending, and Black Knight is leading the way to redefine the mortgage origination process. Black Knight experts break down what lenders need to know to use AI/ML tech to its fullest. Plus, they look at what it takes to support compliance in an ever-changing field that regulators are still sizing up. Download Black Knight’s complimentary white paper and learn how you can put the future of mortgages to work for you.
Maxwell is now offering lenders complimentary access to its powerful mortgage analytics solution for a limited time. This product replaces complex spreadsheets, expensive business intelligence tools, and other data-wrangling tasks to help executives manage their P&Ls and forecast more efficiently. By securely connecting with your LOS, Maxwell unlocks real-time dashboards around team performance, pull-through, closed volume, product mix, team capacity, and more. These visual dashboards provide actionable insight, no data analyst required, and were built with input from dozens of mortgage business leaders who use data to effectively manage market changes and P&L initiatives. Ready to improve quality, cut costs, and arm your decision-making with eye-opening data points? Request your free access here or contact us.
