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 »
With digital technology rapidly becoming a mainstay in the mortgage industry, it would seem that the mortgage process is being reinvented. And yet, the mortgage process is still rooted in tradition—or, at least, in the traditional reliance on face-to-face connections and longstanding relationships. As a mortgage lender, your reputation precedes you. How you build that… Read more »
Forging a close professional relationship with an agent is one of the most valuable things you can do for your lending career, but empty promises and miscommunication from LOs has made many agents hesitant to collaborate with lenders. We spoke with a number of agents to get some first-hand advice about what loan officers should… Read more »
Savvy lenders need to be able to manage their loans in any location and on any devices. If you’re out and about, having to pause your day to run back to the office to pull a credit report can seriously impact your efficiency (and likely your mood). At Maxwell, we’re all about enabling our lenders… Read more »
When it comes to the mortgage process, it would seem that the tides are shifting as more and more lenders turn to digital mortgage technology to empower borrowers with a superior mortgage experience. Maxwell recently teamed up with HousingWire to conduct a survey of mortgage lenders to get a feel for the current state of… Read more »
As seen last week in HousingWire and National Mortgage Professional, Maxwell proudly announced our exciting new partnership with HomeServices Lending, LLC—a subsidiary of HomeServices of America™, a Berkshire Hathaway affiliate. 2018 has been a busy year here at Maxwell, characterized by growth and new opportunity. Building this partnership with HomeServices Lending represents a large step forward… Read more »
The mortgage industry is in a state of flux. As margins shrink and executives look for ways to stay competitive, staff reductions might seem like a natural next step. However, a digital mortgage solution could be the answer to improving profitability without reducing your team. Digital mortgage technology can speed up time-to-close and improve… Read more »
Let’s put on our empathy caps for a moment and think about the mortgage process from the perspective of your borrowers. What descriptors do you think first come to mind when a potential homebuyer thinks about the mortgage process? It’s probably a safe bet that the first words they’d think of would not be “simple,”… Read more »