Does Your Current Mortgage Technology Support Both Your Borrower’s Expectations and Your Organization’s Mortgage Growth and Strategy?

By: Bill Dolan, CMB, AMP

The more we speak with our clients and prospects, the more we hear of their discouragement surrounding outdated technology and the inability to meet borrower expectations due to the lack of integration with their Point-of-Sale, Loan Origination and Product & Pricing Engine systems.

Pick up any mortgage publication or newsletter and you’ll see that the industry is currently being flooded with the latest technology allowing lenders to remain competitive and drive their operational performance within their mortgage manufacturing plants in order to reduce mortgage cycle times while decreasing their origination costs.

If your current systems are not providing you and your staff with a best-in-class POS/LOS or PPE performance that provides complete integration with all three of these software systems, in concert with other third-party applications to support your digitization strategy, you are going to be left behind.

A recent webinar was sponsored by the MBA titled, “Building a Sustainable Operating Model for 2021’ and Beyond” and it was spot on! The panelists were comprised of industry leaders, lenders and innovative visionaries who addressed what it will take using machine learning, artificial intelligence and blockchain technology to remain a low-cost producer and provider. By leveraging these advanced tools and technologies, lenders will move to becoming the fastest, cheapest and compliant providers to that of their competitors, providing their borrowers with a real borrower experience that they come to expect today.

Serious due diligence is required along with accurate evaluation of the solutions you are looking to implement. Your organization must have the required talent and bandwidth within your team to address the necessary configurations, integrations and implementation of these technologies. If you don’t, save your money, for the investment is far too great these days and the process can be both complex and lengthy if not configured properly right from the start.

SCA’s mortgage technology consultants can provide you with the knowledge, experience, support along with peace of mind knowing that your digital transformation and expansion will be a true and successful end-to-end digital operating model for both your financial institution and your borrower.

For a free consultation, please reach out to Bill Dolan at (617) 694-2617 to review our other mortgage banking services that SCA provides.