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 …

Customize How and When You Receive Document Upload Notifications in FloifyThe Floify platform excels at keeping all loan stakeholders informed and accountable for their part in the mortgage origination process. For borrowers, the system delivers notifications and reminders that promote accountability by informing the borrower of any new or outstanding requirements. Loan originators and their teams are kept in-the-loop about …

Enhance Your Origination Process and Maximize ROI with Floify E-Sign Meet Floify’s Native Electronic Signature Solution Floify E-Sign is a powerful, mobile-optimized eSignature solution developed on the Floify platform that helps mortgage loan originators further streamline and digitize their workflow without the cost and management of an additional vendor. Purpose-built for the mortgage origination industry and designed to support its …

Looking Back and Moving Forward: What We Learned About Mortgages in 2021As 2021 has now drawn to a close, it’s natural to reflect on the events of the past year, and what a year it’s been. From a presidential inauguration to mass protests, COVID vaccines to new COVID variants, Olympic games to Squid Games, and everything in between, things were… …

2021: Floify’s Year-in-Review2021 was an exciting year at Floify! As we reflect on our accomplishments, we wanted to share some of our favorite milestones and give a big THANK YOU to our customers and partners who helped make this all possible. This year, we saw tremendous growth on the Floify platform. We had the pleasure of serving more than 3 …

Key Performance Metrics for Loan Originators and BrokersRunning a profitable mortgage origination business is never a static job. It often involves constant evaluation as well as correctly making important and impactful decisions that come up from time to time. Are the loans that you originate profitable? When should you make the next hire? How do you identify and resolve bottlenecks …

3 Common Complaints About the Mortgage ProcessAvoid these mortgage lending process issues to win repeat business and referrals We scoured the internet to determine the most common mortgage complaints that are leveled at loan officers about the mortgage lending process. We looked at not just what borrowers had to say, but Realtors as well. Why is this important? Online reviews, …