Mortgage lenders need solid and effective quality control system to operate successfully. Having a well-established quality control program allows mortgage lenders to ensure that all aspects of mortgage processing, from application to processing, is executed in a way that meets the standards as mandated by regulatory bodies. A quality control system, in essence, can assist the management to keep track…
The Covid-19 pandemic hit the mortgage industry in many ways, causing finance and opportunity loss for lenders. However, the crisis also induced a sudden spike in the popularity of the reverse mortgage product category. One of the factors that contributed substantially to this phenomenon is the depleting income of people, especially the senior citizens. This has led to an unexpected…
The challenges associated with a home-selling process has changed a lot during the past decade. Aside from closing on a mortgage loan, loan officers are tasked with the secondary responsibilities of generating enough real estate leads, converting incoming leads, building new real-estate partnerships, building on existing partnerships, and maintaining the database of prospects. And to top it, the shifting sands of…