An Interview with PrivoCorp Co-Founders – Sam Verma and Mridhul Prakash
SAM VERMA RECOGNIZED AS BRONZE STEVIE® AWARD WINNER IN 2021 AMERICAN BUSINESS AWARDS® Question 1: Sam, how does it feel to be named as a winner of the Stevie Award? It is a matter of pride and humility. It is a recognition of the work we do to support our team members and mortgage industry […]
Lender Profits Are Crashing Back to Earth
A recent article written by James Kleimann, published on HousingWire, describes how an increase in loan production costs is bringing lenders’ profits crashing back down to earth. According to the Mortgage Bankers Association’s latest quarterly performance survey, IMBs posted a net gain of $3,738 per originated loan in the fourth quarter, down from $5,535 in […]
Contract Mortgage Loan Processing – One Stop Solution for Lenders
In a highly competitive mortgage landscape, a reduction in the turnaround time can become a major differentiator in the business performance and in staying ahead of the competition. Now more than ever, mortgage lenders need to be diligent about implementing ways to streamline operations considering the unpredictable nature of today’s mortgage industry. It is imperative […]
Preparing for Foreclosures – Are Servicers Ready?
In April, the Consumer Financial Protection Bureau (CFPB) put in efforts to strengthen protections for pandemic-affected struggling borrowers through a host of proposals. The proposed rules aim to discourage servicers from initiating foreclosures until after the end of this year, encouraging them to offer certain streamlined loan modification options to borrowers. As per CFPB acting […]
Mortgage Servicers can Limit Foreclosures – Steps to Follow
As a part of its efforts to prevent a huge spike in foreclosures, the Consumer Financial Protection Bureau (CFPB) recently instructed mortgage servicers to ramp up their communication with homeowners who will likely need further assistance. As of January 2021, over 2.7 million consumers were still in forbearance programs while 2.1 million consumers were in […]
Ways to Improve Efficiency in Your Underwriting Process
Mortgage Processing is complex and data-intensive. With the rise in mortgage requirements over the years, the competition among lenders has been increasing too. To stand apart and offer the customers the best, time, efficiency, and accuracy of loan processing remain vital and so does the process of underwriting. Financial experts with comprehensive knowledge about the […]
Streamlining Default Servicing – Ways to Do It
The current environment in default servicing is complex. Frequent new regulatory and policy updates mean lenders and servicers of all sizes are struggling to keep up. Besides, growing customer expectations also pose unprecedented challenges for lenders and servicers alike. The large number of mortgage forbearances currently in place has added to the complexity. Outperforming in […]
5 Key Factors to Consider When Choosing Mortgage Outsourcing Partner
“Even as rates rise modestly, the housing market remains healthy on the cusp of spring homebuying season. Homebuyer demand is strong and, for homeowners who have not yet refinanced but are looking to do so, they have not yet lost the opportunity”, reports Freddie Mac’s Economic & Housing Research Group. This reveals that the work […]
Loan Modification Process Outsourcing Saves Servicers Time and Money
Given the economic impact of the pandemic, mortgage defaults have been a stark reality. In this situation, loan modification is one option that can be beneficial to mortgage servicers as well as borrowers since foreclosure is never a preferred solution to either parties. For borrowers, a foreclosure will result in the loss of their home […]
Some of the Top Women, We are Influenced By (In Mortgage and Allied Industries)
Christine Beckwith President, COO & Master Coach at vision for success coaching Christine is a President, Creator, Chief Operating Officer, and Master Coach of the fastest growing Sales Coaching Company in America, Christine has mastered her 30-year industry accolades by climbing to the very top of a national sales finance platform in the mortgage industry. […]