“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experience and loan processing in the origination phase, many mortgage lenders still find themselves reliant on an outdated batch processing approach when it comes to back office operations and management of their branch network. This is especially pervasive within lenders’ accounting departments and is often based on the fallacy that batch processing provides a greater level of control over accounting data. The reality is that operating with a “batch mentality” only creates an illusion of control due to its primitive constraints – something that is exacerbated in a tighter lending market like we see today.”
Read more on Mortgage Orb.
March 13, 2023.