3 Key Factors Impacting Digital Loan Application Submission RatesWhy do some lenders thrive while others lag? What separates the best mortgage lenders from the also-rans and everyone else? Your borrowers are smarter and more informed than ever. They know what’s happening with interest rates. They know how to figure out their own credit scores. They can calculate payments online with …

6 Ways Mortgage Lenders Can Get Creative With Their Loan Officer Compensation PlansLoan officers and originators are often the front-line salespeople for any mortgage lender. These LOs liaise with borrowers, handle applications, and generally work to close as many viable deals as possible in a given month or quarter.LO compensation by the (legal) bookAs is the case for most salespeople, …

4 Ways to Thrive as a Loan Originator in a Rising Interest Rate EnvironmentLet’s face it – it’s easier to sell loans when interest rates are low. Over the past decade, the Federal Reserve has kept rates at rock bottom, producing one of the easiest sales environments for loan originators in memory. But a confluence of factors has recently contributed …

The Current State of the End-to-End Digital MortgageNew technologies were gradually making the mortgage-lending process more efficient, then COVID-19 propelled the industry into a new era.  With mortgage-origination volumes soaring, loan originators adapted to remote work, accelerating the need for digital solutions like remote online notarizations (RON). These have all been important steps towards digital mortgage, which at least one …

Floify’s Latest Release Delivers Powerful New Credit Reporting ToolsFloify’s recently released suite of new credit reporting and VOA functionality gives loan originators the advanced automation capabilities they need to create even more time-saving efficiencies (and less headaches) within their digital origination workflow.Automatically Map Liabilities to Loan ApplicationLOs that utilize Floify to order credit via one of the system’s integrated credit …

How Originators Can Measure and Improve Mortgage Pull-Through RateWhat is Mortgage Pull-Through Rate and How to Measure ItThe mortgage pull-through rate analytic provides a loan originator with a high-level view of the overall health of their mortgage process. It’s a foundational metric meant to generally assess workflow efficiency, the quality of submitted applications, the level of customer service being provided, …

Prioritizing Loan Profitability in a Mortgage Purchase Market The record high profits of 2020 are now well into the mortgage industry’s rear-view mirror. In fact, Mortgage Banker’s Association data from Q2 of 2021 demonstrated a steep decline in profit, dropping from $3,361 per loan in Q1 to just $2,023 per loan in Q2. This swift drop is attributed to several …

Is Your Online Mortgage Application Costing You Business?ICE Mortgage Technology’s most recent Borrower and Lender Insights Survey, the 2020 report, made clear that today’s homebuyers are using technology more than ever – and also want more digitalization of the mortgage borrowing experience. This attitude is reflected heavily in the survey’s data. For example, 64% of all consumers surveyed reported having …

Implement a Flexible Online Loan Application That Adapts to Your Process Not all origination workflows are built the same and the practical data needs for a loan originator to successfully run their business may be different from what is gathered on a typical 1003 loan application. Some loans and programs need additional information. Some LOs want more data about their …

Non-Traditional Strategies to Generate New Business in a Purchase MarketThe cyclical nature of the mortgage market provides opportunities for loan originators that are willing to adapt and be flexible with how they position their business. 2020’s epic refi boom is now squarely in the rear view mirror. In fact, Freddie Mac is predicting that refinance volume will crater this year …