Tackle mortgage rate fluctuations with ease

The mortgage industry has been turbulent in the past couple of years. Various economic and political scenarios have forced the Federal Reserve to recalibrate its monetary policies, which has indirectly affected the mortgage rates significantly. Further, lending rates are increasing rapidly, with the average 30-year fixed mortgage rate reaching 7.2% in October 2022. Naturally, banks...

Maximize the ROI of Your IDP Investments in Mortgage Document Processing

Processing mortgage applications entails dealing with a massive pile of documents necessary to verify customers loan worthiness and clear approvals. This task is often carried out manually, resulting in reporting errors, missing documents, and an unending waiting period before closure. Furthermore, indexing, document sorting, and data extraction are other recurrent issues mortgage lenders face. This...

IDP for Process Efficiency – Here’s how to close in on the Right One

Every organization is unique. From their business goals to the technologies leveraged, the people that make it, and even the culture that makes the organization alive, differs.  Bringing a solution into an organization is a very involving and complex exercise. One needs to consider the organization’s and the project’s critical aspects. A solution with AI...

Non-QM Loans – The present, the future, and how document automation can play a key role in making it more sustainable

As margins thin out, lenders are faced with the task of reconfiguring their existing cost structures while looking for alternate revenue streams. The non-QM market is emerging as a lucrative and practical solution for many. COVID-19 halted the boom of non-QM due to the liquidity constraint, however, it regained its market share and finished 2021...

Protect your mortgage margins

Net gains in 2021 Q4 declined to $1,099 on each loan originated, compared to $2,594 in the previous quarter, according to a report published by the Mortgage Bankers Association (MBA) on Thursday. This slide-in profitability is on a 6 quarter trend. This is due to softening demand resulting in the slide in the volume of loans. With the feds’...

Scale up your mortgage processing with higher quality checks through digital post close QC

Post-closing quality control process needs to be elaborate to ensure that the hundreds of pages of information contained in the mortgage closing file are highly accurate. It has even grown in importance to overcome the record number of foreclosures in recent years. The post close QC checklist should meet CFPB and TRID, Fannie Mae, Freddie...

Centralized document library key to your digitized mortgage operations

Complex, paper-based, and error-prone, the management of mortgage documents is often troublesome exposing financial institutions to the potential for unnecessary inefficiencies, losses and defaults. DocVu.AI serves as a central document library and provides a 360 degree view of mortgage documents across the organization. The dynamic forms for all application documents and collaterals type are customizable...

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