In the course of a mortgage originator’s business, few decisions are more important than selecting a Loan Origination System (LOS) system and vendor partner. In fact, there is a clear interdependence between operational performance and platform performance. Effective and well-thought-out processes ensure a business is getting the full advantage of their platform while a powerful, […]
Current market conditions continue to make servicing loan portfolios a coin toss. Many originators strive to maintain control of loan servicing, since it reinforces branding and provides a first line of communication to customers for retention and refinancing. With today’s higher interest rates, however, refinancing has decreased and that has slowed down the normal portfolio […]
February 1, 2020 is the deadline to comply with URLA/1003 changes. While that deadline may seem reasonable, we all know better. When a deadline for compliance is set, it usually seems distant. A problem for a later date. But then, one morning, you wake up and the deadline is tomorrow. This simply isn’t fun so […]
The Consultant’s Corner is a blog series written by Consultants for Consultants. The blog articles provide personal opinions and experiences of individual consultants and do not necessarily reflect the views of the company. We hope this blog series provides a range of perspectives across the industry. If you have a different experience that you would […]
According to the Mortgage Bankers Association, the average net cost to originate a mortgage (all loan types) in the fourth quarter 2018 was $8,611. Imagine, only six years earlier in 2013, the cost to originate a loan was closer to $5,000. There is no single reason for this astronomical increase, but industry economists cite low […]
