Compliance costs in mortgage banking domain are rising, in line with continuing exponential growth in the volume, pace and variety of regulation. Most of the mortgage lenders still rely on highly manual processes and age-old systems to gather regulatory data and manage regulatory change. Adopting technologies in AI can help mortgage banks in solving these…
As borrower demands and origination costs are rising, mortgage lenders are turning to data, analytics, and artificial intelligence (AI) in order to make better and faster business decisions. The implementation of AI in mortgage industry will help mortgage lenders to use analytics for making real time operational business decisions such as identifying fraud detection, assessing…
Mortgage lenders are trying to offer a seamless and pleasant experience for the borrowers who come to their digital platform looking for mortgage products and loan options. Salesforce can help lenders for improving the borrower digital service using Salesforce Service Cloud by unlocking third party data to achieve single view of the borrower. SalesForce Service…
Mortgage lenders are faced with the challenge of meeting rising borrower demands while maintaining tight compliance and process controls. Robotic Process Automation (RPA) is the technological solution that can help automate repetitive tasks, access unstructured data, and tap into data sources across legacy systems to meet borrower needs and compliance requirements. Here we will take…
Manually searching for loan products, rates and pricing is slow and inefficient and may result in pricing errors, inaccurate data, or compliance issue. Mortgage lenders can automate this process using PPEs as well as integrate it with their current mortgage process. We take a look at the top pricing engines available for the mortgage industry.…
With the database of clients, prospects and leads becoming larger and more complex, Mortgage lenders understand that choosing the right CRM is essential in not falling short off the competitors in the Mortgage industry. Encompass being the leading provider of LOS software for the mortgage industry in U.S., it is important to take into account…
Mortgage lender can infuse every major decision to drive revenue, to control costs or to mitigate risks with data and analytics. Integrated risk management using risk analytics can trigger responsible and profitable growth for mortgage banks. Risk analytics in mortgage banking helps mortgage banks to identify, quantify and mitigate risks using data and analytics. Functional…
Borrowers are using more and more digital channels than ever before to interact with their lenders. It is important for the mortgage companies to ensure that when they are interacting with their borrowers on those digital channels, they are providing a seamless digital borrower experience. These experiences must be consistent across every channel whether it…
Big part of digital transformation in mortgage industry drills down to the number of data driven initiatives by mortgage lenders and banks namely AI/ML efforts, predictive analytics, data modeling and CRMs. Explosive growth in terms of total data volume poses many operational and data challenges in mortgage industry. Data challenges in mortgage industry The total…
Mortgage marketers run different campaigns across different regions, trying to reach the borrowers in different places using a lot of different technologies. It is a real operational challenge to bring all of this data together existing in different silos. Salesforce Datorama provides one unified view of all paid campaign channel performance so the marketing team…