A Closing Disclosure is a five-page document that helps borrowers know everything about the mortgage loan they have just purchased. As a lender, you must enlist crucial mortgage loan details in the closing disclosure document. These details include loan terms and monthly payment installments that a borrower is liable to. It is mandatory that you specify all the final loan…
Mortgage
The mortgage industry runs on multiple rules. These rules govern the way business is conducted in the industry. Such rules pertain to compliance, credit score, eligibility, workflow, and many more. There are two major challenges when it comes to managing these rules. Firstly, most of these business rules are extremely dynamic in nature and change at the drop of a…
Mortgage processing today continues to be slow, unorganized, and labor-intensive. As a result, it is struggling to scale up to meet customers’ expectations of a fast and seamless digital borrowing experiences. The direct fallout of this is losing customers to competitors. An inefficient process is also responsible for generation of faulty loans. Such loans find no takers in the secondary market…