“Despite embracing modernization when it comes to borrower experience and loan processing in the origination phase, many mortgage lenders still find themselves reliant on an outdated batch processing approach when it comes to back office operations and management of their …

“As lenders budget for 2023 and factor in cost savings, they are realizing the importance of having branch-level profit and loss (P&L) data, especially as they are managing reductions of both fixed and variable costs. To learn more, MortgageOrb recently …

“In the current purchase market, where access to faster reporting is imperative to lenders’ branch profitability, Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced today the availability of its new Expense Management Branch …

“The key to lowering existing operational costs to efficiently manage “the spend” lies in equipping lenders with access to faster reporting, including detailed insight into loan volumes or margins and profits, for each branch within their network. Automated reporting capabilities …

“As lenders carefully evaluate their personnel and operating expenses, one area of focus that should be included is expense control. Too often, both loan and non-loan expense approval and reconciliation is managed through a labor-intensive, error-prone, manual set of processes. …

“Mortgage lending has always been a volume game. Traditionally, narrow profit margins have made it necessary for lenders to originate as much as they can at the lowest cost in order to stay profitable — a task that is aided …

“Prior to 2020, the mortgage industry was facing a serious staffing problem. The pandemic in 2020 continued this problem as both young and experienced mortgage professionals rapidly left the industry. The efforts of the pandemic changed employees’ expected environment and …

Diamond Residential Mortgage Corporation (DRMC), a client of Advantage Systems, has announced that it produced over $1 billion in loan volume for the second year in a row.   Non-QM lender Diamond Residential Mortgage tops $1 billion in loan originations …

Joe Ludlow: Lenders Need Knowledge and Expertise to Capitalize on the Purchase Market MortgageOrb July 14, 2021 Read more on MortgageOrb.

Be Nimble: Compensation software must handle the complexities of a competitive mortgage world By Joe Ludlow, Vice President of Advantage Systems Scotsman Guide Read more in the PDF of this month’s edition of Scotsman Guide.