In a recent article published on HousingWire, FHFA Acting Director Sandra Thompson announced expansions to the eligibility requirements for refinancing programs geared towards low-income borrowers. Desktop appraisals, temporary flexibility was implemented in March 2020 to keep the mortgage industry afloat amid lockdowns and social distancing. This will now become...

The fall season is a great time for people to move locations and look to buy homes. The demand for home purchases has been high over the past several weeks. Mortgage lenders have had to deal with a large number of applications from borrowers. A mortgage lender needs to...

The total mortgage debt outstanding in the U.S. as published by Statista Research Department amounted to approximately 16.96 trillion U.S. dollars in the first quarter of 2021. The number when clubbed with the findings that, “The rise of information technology (IT) in the financial sector has dramatically changed how...

The current mortgage landscape is a highly competitive one. Speed, accuracy, cost efficiency, and superlative customer experience are vital to ensuring an edge in the crowded marketplace. In this scenario, if you can use the latest technologies to replace manual workflows, it can certainly empower modern-day lenders to enhance...

As a growing mortgage lender, there are myriad operational and customer experience challenges that you have to deal with on a day-to-day basis. QC Audit Services Conducting audits is one such significant one, often translating into a cause for sleepless nights due to the extensive and time-consuming nature of...

In today’s era, you need to consistently meet customer expectations, especially when you’re in the services industry. To achieve this consistently, as an organization, a significant amount of effort, commitment, and investment in technology and process maturity is required on a regular basis. What is Operational Excellence? Operational Excellence...

When you take in new loans from originations, MSR acquisitions, or portfolio transfers, there is no such thing as a “little” discrepancy. Contradictions between loan onboarding and servicing process can cause delays, increase costs, and lengthen research cycles. So how do you manage the intake of multiple files containing...

The Mortgage Market is currently undergoing a structural change in terms of its modus operandi, borrower profile, and the rapidly changing market norms. In the wake of the ongoing COVID-19 pandemic, the current scenario appears remarkably different from what it was just a couple of years ago. While the...

Over the last several months, Lenders have been having consistent loan volumes, both in fresh purchases as well as in refinance.  Lenders can capitalize on these volumes to eventually increase the market share and make profits. With an increased market share, there is a need to convert loan applications...

The primary task of Title agents is to ensure that property should have a defect-free title. They also need to brief the lender on valid liens and judgments related to the property vide the detailed property and tax reports on the property. The tasks of a title agent are...