When it comes to the loan application process, lenders have been riding the real-time data wave for quite a while. With the ability to quickly verify borrower income and employment, paired with up-to-the-minute updates on appraisal, flood and title services, time-to-close is a fraction of what it used to be.
The challenge for many lenders today is actually one of “data overload” as they work to convert “available” data into “actionable” data. Some are finding success, however, and modern lenders like MortgageRight are effectively leveraging real-time data within their day-to-day operations to gain loan-level detail across their entire branch network, supporting loan production as well as recruiting and branch network expansion initiatives.
MBA NewsLink interviewed MortgageRight Director of Strategic Growth and Branch Manager Mike Russo and Advantage Systems Vice President Joe Ludlow.
Read more at: Mortgage Bankers Association
September 25, 2023