The mortgage lending industry was severely hit by the recent economic recession and is still trying to deal with the fallout which nearly wiped out the home-lending industry in the USA.Today’s volatile political climate and changing federal rules and regulations only.
From initial application approval to closing, acquiring a mortgage loan is a tedious, time-consuming, and labor-intensive process for lenders, borrowers, real estate agents, sellers, and anyone else directly or indirectly linked to the mortgage transaction.
Mortgage closing is one of the key steps in the process of buying or financing a home. This is the time during which the mortgage loan gets finalized and the funds are released, following which the customer is legally required to pay back the mortgage.
In today’s world of regulatory credit environment, lenders face many challenges in adapting to the rapidly changing marketplace, which includes some stringent requirements such as borrower qualifications, constant compliance updates, etc.,
Do you need a quick fair market value for your mortgage client’s collateral? Do you worry unseen errors may manifest halfway through the mortgage process? Nobody likes the hassle of dealing with reassessment and rework because it can strain relations with clients.
Mortgage companies often face the huge challenge of transfer of title from the seller to the buyer. Not only is this process resource intensive, it also involves many nuances that require a considerable expenditure of time and money at this crucial stage.
Considered the final step of the mortgage process, mortgage underwriting determines the creditworthiness and the payment capability of the person who has applied for a mortgage loan. Financial institutions employ underwriters for this crucial final step.
When service times are longer than usual, it can cost lenders and loan servicers a lot of money. However, to transform loan service lifecycle into a revenue-generating machinery you will need a smart mortgage software suite that can make lending journeys a pleasant experience.
Developing a custom mortgage dashboard is a still a challenge for many especially when the budget is tight to hire and train a dedicated mortgage dashboard development team. If you want actionable insights which give informative charts and clear perspective of loan origination.
With a Federal Housing Administration loan (FHA) being one of the most buyer-friendly and popular mortgage types, there is an increasing need for streamlined and efficient loan processing. It is crucial for lenders to mitigate massive revenue cuts just to keep up with