In a stringent Dodd-Frank regulatory framework, it has become difficult for lenders to churn adequate profit on per-loan basis. It is difficult to find the right balance between risk-free operations and keeping costs in control. However, many lenders are now taking help from superior data to understand what type of loans to sell and how to improve close ratios. However,…
loan processing
With the implementation of Dodd-Frank Act, the lenders have been walking a tight rope. They can no longer adopt an apathetic approach towards the transaction process. To stay compliant with stringent regulatory framework, the lenders will have to focus on keeping costs in control, improve efficiency by integrating technology into their process, consider scalability to surge productivity and collaborate with…
It is often believed that mortgage is a long and complex process. To an extent, it is even true. However, an efficient mortgage professional’s job is to ensure that each applicant is thoroughly reviewed before the loan application is submitted for approval. Knowing before hand about the borrower’s credit history and their paying ability can reduce the costs associated with…