Peoples Processing Peoples Processing

FHA, which stands for the Federal Housing Administration, is a United States government agency which insures home loans for FHA approved lenders.

One of the best tips for buying a house is to fully understand all the financing options that are available to them.  As a buyer is trying to determine which type of mortgage is the best, they must weigh the PROs and CONs of each option. Continue reading...

A mortgage loan processor is the link between a borrower, loan officer and the  underwriter in the context of a residential mortgage. And he or she is arguably the most important member of the team.

The National Association of Mortgage Processors says, “The primary function of the Loan Processor is to ensure the timely and accurate packaging of all loans originated by loan officers.” So it’s mostly an administrative role. Continue reading...

In today’s ever-evolving, competitive market, mortgage lenders face a host of challenges like meeting borrower expectations, improving closing ratios, reducing the cost of origination, and most importantly keep growing. One of the best ways for lenders then is to tie up with reliable mortgage processing partners who can do the heavy lifting for them, and allow them to focus on the market expansion. Continue reading...

Outsourcing is a very common practice in the finance industry. Since the 1970s, banks and other businesses have been outsourcing several functions including clerical, record storage, accounting, data processing, security and plant maintenance. The mortgage industry too followed suit soon. What fuelled the growth of outsourcing is the fact that outsourcers could do the work at a fraction of the cost of what companies spent to maintain themselves. Continue reading...

The mortgage industry has been evolving since the past few years amidst a lot of regulations. In the US, today, a median borrower puts 5% down payment for their home purchase, as compared to 20% about a decade ago. This aspect, paired with price wars, new CFBP regulations, and other accompanying challenges, has resulted in many mortgage lenders looking positively towards outsourcing services as an option. Mortgage loan processing companies, who specialize in offering these outsourced services are able to cut down costs and improve productivity. Continue reading...

The mortgage processing industry is a complex ecosystem that has a highly regulated environment and the need for a delicate balance between modernization, cost, and risk. Processing larger mortgage volumes is an element that requires more efficient services on part of lenders and processors.

Processing Higher Mortgage Volumes

At a time when more millennials are pursuing homeownership than ever before, the volumes of mortgages are bound to go up. Over the past few years, it has been observed that as millennials age and grow in their careers, they are acquiring more purchasing power, are shopping for mortgages online, and entering the market well prepared. Continue reading...