What are the top 5 necessary components of construction lending software that lenders require today?
With construction on the rise, lenders need a solution that can handle a flexible and unique construction loan portfolio
Are you managing one-time or two-time close loans, large commercial borrowing base loan, a loan requiring an interest reserve or maybe a loan requiring the tracking of liability insurance or builder’s risk? There are many different types of construction loans being made in the marketplace today. How can you handle it all?
Investments made by Servicers in Compliance Management are not enough according to a CFPB announcement earlier this month. Five key issues the CFPB believes are still harming borrowers financially, and what they want Servicers to do about it…
Connecting your lenders and vendors could be the key to success
The mortgage industry is facing ever-increasing challenges. Real estate transactions have thousands of details that are typically managed with paper and files, with lenders having to manage hundreds of vendors to fulfill settlement products. Added to these challenges is the growing number of government regulations, which force lenders to pay even closer attention to each and every file. The potential for risk is exponential, plus it reduces efficiency and increases cycle time. For settlement companies and appraisers the challenge is to provide lenders with peace of mind through the process, providing much-needed solutions to the inherent problems, so you can become a leader of the pack. Accomplishing this brings its own set of challenges…how can you get through your pipeline quickly, are you keeping an eye on compliance, if your lender customer grows their pipeline can you keep up, if you sign a new lender partner can you adapt to their workflow?
Choosing the right platform for your business at the right time
“ If it ain’t broke, don’t fix it.” Most of us live by this adage in both our personal and business lives to keep our very hectic worlds as simple as possible. While the wisdom is appreciated, a challenge must be made on its application in default servicing. During the recent financial crisis, most default servicers believed it was easier and more cost-effective to remain on their existing platform. Changing a system during chaos is never a good idea – or is it?