INTEGRATE DATA ANALYTICS

How to Integrate Data Analytics into Mortgage Banking

A robust and successful Data Analytics functionality encompasses more than a stack of technologies and is incomplete without getting incorporated into all key decisions across origination, sales, marketing, borrower experience and other core functions. So it is necessary to integrate Data Analytics into  mortgage banking to aid the decision making process. How to integrate Data…

Meaningful insights from existing data

How can Mortgage banks look at their existing data to arrive at meaningful insights

Mortgage banks have with them a large database of information secured via loan origination platforms, application forms, POS platforms and other website features like contact forms, search patterns. Mortgage Banks by employing the right technology can leverage these existing data sets to gain meaningful insights about borrower behavior, buying patterns, trends, loan product performance and…

Slash costs by adopting Technology

How can Mortgage Banks slash costs by adopting Technology

Frequent changes in regulatory norms and compliance legislation, rising origination costs, inflated infrastructure costs are creating disruption in the mortgage industry, and the implications of that disruption are having significant financial consequences. Technology is the key in helping mortgage banks to reduce the costs without compromising the quality of service.Here are some of the ways…

Metrics for Mortgage Marketing Campaigns

Metrics for Mortgage Marketing Campaigns

Borrower expectations have changed drastically in this mobile era with the borrowers becoming more curious, impatient and demanding. So it is important for Mortgage lenders to keep track off the right marketing metrics to accurately measure the ROI of mortgage marketing campaigns. Need for tracking the right metrics Mortgage lenders need to track the right…

RPA in Mortgage Industry

RPA (Robotic Process Automation) in Mortgage Industry

Mortgage process still remains largely manual with multi-page documents, error-prone and inefficient methodologies which impact the customer experience. Robotic Process Automation (RPA) is the technological solution that can help automate the processes in mortgage industry end to end. Advantages of using RPA in Mortgage Industry Use cases for RPA in Mortgage Industry Challenges in implementing…

Improving Data Quality and Compliance

Improving Data Quality and Compliance using Technology

Through automation, Mortgage Lenders leverages technology to improve operational efficiency, meet regulatory requirements while reducing error rates and costs thereby speeding up the mortgage process. Loan Origination costs per loan has risen almost three times over the past decade. But document and compliance defects continue to impede the loan process thereby increasing costs and closing…

Loan Officers can leverage technology

How Loan Officers can leverage technology to close more loans

As borrowers usher in the use of newest technologies into their daily life, their expectations about mortgage experience have changed in a rapid manner. Loan officers can leverage technology to empower themselves to bring to the borrowers true digital mortgage experience without losing the essential human touch. Key Elements in the expectations of the Borrower:…

Importance of Digital First Experience in Mortgage Banking

Importance of Digital First Experience in Mortgage Banking

Mortgage lenders and loan officers are struggling to meet borrower’s expectations weighed down by manual processes, siloed document management systems, increased regulatory burdens and lack of transparency and visibility within the system. Digital first experience in Mortgage Banking is the solution that can bridge the widening engagement gap between borrower’s expectations and lender’s efficiency. Need…

BI Dashboards for Mortgage Industry

Business Intelligence (BI) Dashboards for Mortgage Industry

Faster and better data driven lending decisions requires timely and accurate information right at the fingertips of LOs and Lenders. Critical business decisions backed by real time data driven approach always prove to be more accurate and effective in the long run. Essential features of a BI dashboards for Mortgage Industry Advantages of BI dashboards…