The rise of digital mortgage software has gradually revolutionized mortgage lending from end to end, infusing the cumbersome origination process with intuitive digital technology to smooth out the oft-encountered bumps in the road on the journey to home-ownership. However, despite technological innovation, disclosures have continued to present a challenge for borrowers, lenders, and technology vendors… Read more »
2018 has finally come to a close, but don’t let that sigh of relief escape from your lips just yet. It’s been a challenging year for many mortgage lenders, and while the 2019 forecasts look somewhat more promising, many of the issues that affected the mortgage industry this year will persist into the new year.… Read more »
A solid customer experience is built upon a foundation of education, transparency, and communication. Borrowers want to feel like their loan officer is always two steps ahead in terms of prompt, transparent communication. We’ve written about how to communicate more effectively with borrowers, but we wanted to dive a bit deeper into the subject to… Read more »
As we close in on the end of the year and reflect back on 2018, there are a number of lessons to be learned. 2018 has proved to be more difficult for mortgage lenders than anyone anticipated or prepared for. The severe margin compression at the start of the year—felt most dramatically in Q1, with… Read more »
Back in August, mortgage originators from around the country descended on Sin City to test their luck at the roulette table, network with fellow originators, and learn from some of the best in the business. Conference mayhem was in full swing at Originator Connect 2018. As with any great conference, Originator Connect 2018 featured a robust… Read more »
At Maxwell, we know that the mortgage business is a people business—that is, the success of mortgage lenders relies on their ability to a) delight borrowers going through the mortgage process and b) build fruitful and long-stand referral relationships with real estate agents on the other side of the process. Though Maxwell’s digital mortgage platform… Read more »
You likely know who your most productive loan officers are—they’re your LOs who deliver the most volume. But do you actually know which loan officers are the most profitable? Do you understand the discrepancy in profitability amongst your team members? Are your LOs completely maxed out in terms of productivity, or do they have… Read more »
A shift towards a purchase-heavy market means a decline in profitability for mortgage lenders. 2018 has proven to be a tough year for lenders fighting to stay profitable in the face of margin compression and industry challenges. According to HousingWire, the first quarter of 2018 was the worst quarter for independent lenders in terms of… Read more »
We are relentless in our dedication to improving the mortgage loan experience. We are constantly scrutinizing the loan process from end to end to identify pain points that we can help lenders alleviate with digital mortgage technology. Our simple, customizable 1003 has long been lauded by borrowers and lenders alike for its ease of use… Read more »
There’s no denying that 2018 has been a tough year for mortgage lenders. Longer cycle times, lower refinance volume, and increasing costs to compete for borrowers means tighter margins. In Q1 of 2018, loan origination costs increased to $8,957 per loan. As loan costs rise, how can lenders stay profitable? Lenders across the nation have… Read more »