In this time of low volumes and tight margins, many lenders are scrutinizing expenses more closely and seeking innovative ways to enhance efficiencies and gain greater control over their operations. One area that is ripe for improvement is vendor management – particularly within a mortgage lender’s branch network.
For lenders, effective communication with their branch managers is key. Successful vendor and expense management creates proper detail and documentation that flows through to the branch manager’s online portal, creating self-service research capabilities and instilling confidence in branch managers. The trick is to do it with a better, more comprehensive accounting workflow, while the best of these systems incorporate easy-to-use portals for internal manager expense approval.
Read more at: Mortgage Bankers Association
April 17, 2024