Mortgage originators have made substantial investments in technology or digital services to improve the mortgage servicing experience, but still, the overall mortgage servicer satisfaction does not seem to have improved, according to surveys conducted. According to an MBA Newslink article, in 2016, the industry average for overall satisfaction was 755 (measured on a 1000 scale). In 2017 it was 754 and this year (2018), it … Continue reading Customization in Property Tax Tracking – The What, and The How
Recent statistics, as published by JLL (in a recent article in MBA Newslink), indicate that banks could be looking to save overheads of up to $800 million if they are able to let go of 20 million square feet of real estate, shift many back-office functions and choose to operate in lower cost markets. This … Continue reading Reducing Back-office Overheads: 3 Ways to Make It Sustainable
Getting someone’s attention is the required first step for engagement. Mortgage lenders know this well and work hard to get the attention of prospective borrowers. Once the lender has the borrower’s attention, the work of winning the business can begin. One of the best tools for getting borrowers to buy into the new relationship with … Continue reading What Does It Take to Get More Mortgage Business?
Mortgage loan originators are feeling some distress as volumes continue to fall and interest rates threaten to rise further. In contrast, mortgage servicing has become more attractive. According to the Mortgage Bankers Association, net income related to mortgage servicing has nearly doubled. We wrote about this recently in an SLK Global servicing article in MReport. … Continue reading The Challenges Residential Mortgage Servicers Face
When a team of our executives attended the Mortgage Bankers Association's annual Commercial Mortgage Servicing & Technology Conference earlier this year, the intent was to find out what was on the minds of today’s most successful commercial mortgage services. Much of what our team learned at the show confirmed what we already know about this … Continue reading The Things Commercial Servicers Say
If you’re a regular reader of National Mortgage Professional magazine you may have seen our article in the June issue on the rapid rise of the non-QM market and what it means to the industry, the issues that may arise, and some solutions. There are a number of drivers behind this trend, perhaps the most … Continue reading QM Lending Is Ready For Take-Off
Mitigating risks and reducing losses has been a focus for all mortgage lenders and servicers in the current environment of the U.S. mortgage industry. Reputational, regulatory and financial risk mitigation has been the key agenda for most of them over the last few years and several initiatives have been undertaken strategically to enhance their existing … Continue reading Sustaining Profitability in Lender Placed Insurance Operations: A Simple Solution