Archive: Blog

"When lenders spend resources to get borrowers to prequalify but then do not follow up in order to get the deal once the borrower finds a home, they are leaving money on the table."

Every moment someone in the lender’s shop is working on the deal the company is accruing costs. The longer it takes, the higher the cost-to-close and the lower the profit the lender will receive from the deal.

"You'll only make the mortgage if you reach your member at the opportune time."

"A single technology platform stores all relevant loan and borrower data in the same way and in the same place, simplifying audit trails and compliance reporting. This alone has been reason enough for many lenders to put all real estate lending on the same platform."
Matt Hydrew, EVP Sales

With a true SaaS option, new updates are automatically applied to lenders’ technology. There’s less involved on the lender side to ‘take’ the upgrade.

More than 50% of your Cost-to-Close is labor, so monitoring this metric helps management focus their attention on those activities that are affecting production and dragging down profitability.

Where the historic best of breed argument was more theoretical with far more limited options, today the possibilities are practically limitless, making concrete best of breed more attainable.

If solely technology could make the difference, those using the “best” LOS would all perform at a very high level. The truth is, however, that technology is only part of the answer.

Becoming a high-performance lender will reduce the cost to close. Our data shows the average lender will save $3 million per year.

"Too often, lenders will adjust staff in anticipation of volume changes, a costly and inefficient way to meet market demands and ultimately reduces their Productivity metric. Our top performers address this challenge differently." Read below.

"Remember that the easier you make things for your customers, the more likely they will be to return to you, and to send other people your way as well."

Operational efficiency happens when your team is executing against a strategic plan in the most productive way. Your people, processes and technology are in cadence and you're achieving high performance lending which leads to satisfied borrowers, more closed loans, higher profitability, and all with the highest level of regulatory compliance.

As an innate feature of Mortgage Cadence’s LOS, Borrower Center creates a fully integrated digital experience for borrowers.

Mortgage Cadence is committed to providing lenders with the tools to help solve for these increased compliance demands, and our integration with ComplianceAnalyzer will do just that.

Tracking these KPI’s and maximizing them is one of the surest signs of a high performance lender.