The regulatory landscape for mortgage bankers continues to touch every phase of the mortgage lifecycle. Whether it’s the prospect of ongoing regulatory implementation or the assimilation of change from deregulation, servicers need to be prepared to continue managing through transformation as discussed in our recent blog on deregulation.
New technology is fun and exciting! Making the transition from manual to automated processes can be an energizing endeavor for any organization. The opportunities available are endless, which can also make the move a bit intimidating. It doesn’t have to be! It’s all in the planning.
Adopting process automation technology is more than just plug and play. It eliminates costly, time consuming tasks so careful thought and planning needs to go into your approach and implementation to achieve the best results. Rome wasn’t built in a day and neither will your automation be. Here are 4 phases of planning to help ease your transition from manual to automated processes.
We love automated workflow! Although, we may be a little biased. It’s been our business for over a decade. We are firm believers that technology is meant to work for you. If it isn’t, then what good is it really? If you are still looking for a few good reasons why you should embrace automation, here are 10 we hope will win you over.
The servicing industry has significantly transformed itself since the onset of the financial crisis. Beginning with the tsunami of delinquencies, servicers scrambled to combat the lack of loss mitigation options, fought against the inability to rapidly scale processes and creatively band-aided antiquated technology. Those that have survived the past decade have done so with a pioneering spirit, perseverance and sophisticated workflow.
Accountants have a countdown to Tax Day. Schools have a countdown to summer. Retailers have a countdown to Christmas. The mortgage industry has an important countdown of its own that’s rapidly approaching. Will you be ready to start evaluating borrowers for the Flex Modification program on October 1st?
Organizational nirvana: that feeling you get when you open the door to that one closet in your home. It’s okay—go ahead and laugh. We all have one. The door opens and this time, instead of dodging falling items, you can see what’s there and actually find what you are looking for without fear of bodily harm.