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Tapping into the Rising Tide of Home Equity

Posted by Docutech on Feb 22, 2018 9:00:00 AM

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Part One of a Series on HELOC Lending

What is the most significant generator of wealth for Americans right now? According to the Federal Reserve’s Survey of Consumer Finances, it’s the increasing appreciation of their homes and real estate. The survey found that the median net worth of home owners increased 15 percent since the previous report in 2013, largely due to the rebound in housing values across the country. On the other hand, renters saw their net worth decline five percent in the same period.

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Topics: Customer Service

Gaining Forward Momentum at the NEXT Mortgage Conference

Posted by Docutech on Feb 8, 2018 9:00:00 AM

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Last month, leading female mortgage professionals from the country’s top mortgage lenders, GSEs, as well as technology and service providers participated in the inaugural NEXTTM Mortgage Technology Conference for Women in Dallas. NEXT challenges traditional mortgage industry conferences by being the only tech-focused event for women executives who are serious about driving optimal business outcomes.

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Topics: Technology

Empowering Your Lending Process with Dynamic Documents

Posted by Docutech on Jan 25, 2018 9:00:00 AM

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One of the key areas of focus for the Mortgage industry in 2017 that is carrying into 2018 and beyond is the importance on delivering a better overall borrower experience. Lending success in the future will greatly depend upon the ability to deliver a streamlined and digital experience to the customer – one that enables the borrowers to feel more knowledgeable and empowered in the process. That’s what building a more powerful lending enterprise will mean in the year ahead.

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Topics: Customer Service

What Does it Take to Generate One Billion Mortgage Documents

Posted by Docutech on Jan 18, 2018 9:00:00 AM

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How much is one billion?

 

One billion seconds would take 31.7 years to pass. A stack of one billion-dollar bills would stretch nearly 68 miles into the sky.

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Topics: Customer Service

Ensuring TRID Compliance Under Updated Rule

Posted by Timothy Raty on Jan 12, 2018 12:18:25 PM

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On December 6, 2017 the Consumer Financial Protection Bureau (CFPB) published an updated version of the “TILA-RESPA Integrated Disclosure Guide to the Loan Estimate and Closing Disclosure forms”. The new guide included updates and amendments, which the CFPB hoped would provide illustrations for how the final rule is issued in July 2017 should be implemented.

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Topics: Compliance

How Fintech is Driving the Evolution of the Mortgage Industry

Posted by Docutech on Jan 5, 2018 2:06:56 PM

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Historically, financial services organizations tend to invest in new technologies at a more conservative rate than firms in other industries. There are good reasons for that, because mortgage banking, like all financial services, has risk mitigation at its core. Adopting every new technology that comes down the pike is not a good way to manage risk in the enterprise. Depending on the size, infrastructure and resources of a particular lender, the decision to adopt new technology solutions can vary and impact the overall perception of financial services industry technology advancement.

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Topics: Technology

Using Mortgage Tech Solutions to Mobilize the Customer Experience

Posted by Docutech on Dec 7, 2017 9:00:00 AM

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The rise of mobile was one of the hottest trends in 2017 and it has carried over into every transaction the consumer engages in. With mobile now making up two-thirds of a consumer’s digital media time, the chances of interacting with a borrower through their mobile device is much more likely than through their desktop computer.

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Topics: Technology

eClosings: Leveraging Technology for a Better Borrower Experience

Posted by Docutech on Nov 30, 2017 10:00:00 AM

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Recent research from the Consumer Financial Protection Bureau (CFPB) shows that many borrowers regard closing on a home as a stressful and intimidating experience.

Some of the biggest pain points were:

  1. Too much paperwork to review at the time of closing;
  2. Uncertainty around where to direct questions about the process; and
  3. An overall feeling that the process is painful and overwhelming.

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Topics: Technology

MBA Annual 2017 – Digital Mortgage and Regulatory Changes

Posted by Docutech on Nov 16, 2017 1:54:54 PM

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Denver, Colo. was invaded by leaders from the mortgage space, all eager to learn more about what’s to come in 2018 and get a firsthand look at the latest technology innovations aimed at simplifying and optimizing processes and improving the borrower experience. Along with a trade show floor full of new product and service offerings, MBA Annual 2017 offered attendees the opportunity to sit in on an array of sessions tackling key topics such as HMDA, digital mortgage and regulatory changes not to mention a motivating session on leadership led by five-time NFL MVP Peyton Manning.

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Topics: Compliance

Fighting Fraud with Lender Document Validation

Posted by Docutech on Nov 9, 2017 10:51:06 AM

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Because mortgage transactions have significantly larger loan balances than other types of transactions, they are very attractive to fraudsters who are seeking an illicit payday. There are many schemes fraudsters use to steal money from mortgage lenders and their investors. These range from valuation-based schemes, where criminals attempt to mislead the institution as to the exact value of the property, to setting up straw borrowers with fake credit reports.

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Topics: Technology

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