Volume 3, Issue 11 November 2018

Excerpt: In-Focus – CRA LENDING — BANK PERSPECTIVES TODAY AND IDEAS FOR TOMORROW

It has been six months since President Trump signed the bill that gave banks relief from Dodd-Frank regulations. And, it has been just three months since the OCC (Office of the Comptroller of the Currency) released…

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Excerpt: Borrower Experience- LITTLE THINGS DONE RIGHT

By and large, getting the little things right is how mortgage lenders can assure a happy borrower experience, which is why, “Little Things Done Right” is one of the basic tenets of STRATMOR’s “Seven Commandments…

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Volume 3, Issue 10 October 2018

Excerpt: Borrower Experience- HOW IMPORTANT IS AN INITIAL CHECKLIST?

The number one complaint that borrowers have about the loan process is poor communication. To improve the borrower’s experience and gain better ratings from them, put an initial checklist into their…

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Excerpt: In-Focus – RISE OF THE CREDIT UNIONS

Are you one of the banks or independent lenders who doesn’t pay much attention to credit unions because you think they are only competition for community banks?Are you a credit union thinking the mortgage market doesn’t….

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Volume 3, Issue 9 September 2018

Excerpt: In-Focus – MORTGAGESAT AND THE BORROWER EXPERIENCE

A new calculator feature, now available on STRATMOR Group’s website, enables lenders to estimate profit improvement opportunities that could be possible by using MortgageSAT based on the ability to minimize problems and improve the…

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Excerpt: In-Focus – THE STRATEGY OF PROCESS

How many of us have been stuck on the side of the road with an overheated engine? Often, this happens due to either poor planning or because we’ve ignored the “check engine” or “high temperature” warning signs on our dashboard. We don’t think of what it means to have…

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Volume 3, Issue 8 August 2018

Excerpt: In-Focus – MAY IT BE WITH YOU: UNLEASHING THE POWER OF BUSINESS LEVEL AGREEMENTS

Lenders struggle to advance digital solutions to support their lending business. For mortgage origination, from point-of-sale to processing, underwriting, servicing and capital markets execution, lenders want maximum efficiency, ease of use and compliant processes enabled by technology to deliver a “delighted” borrower experience…

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Excerpt: Mortgage Metrics Borrower Experience – ALIGNING BACK OFFICE COMPENSATION WITH ACHIEVING A SUPERIOR BORROWER EXPERIENCE

At STRATMOR, we believe that the mortgage industry is undergoing a fundamental shift in the competitive landscape whereby delivering a superior, broadly-defined borrower experience is the new competitive paradigm. Gone or going are the days of low cost producers striving for “acceptable” service levels — today’s borrowers expect superior service that includes such things as sound product selection advice, timely and good communications, closing at the expected rates and fees and closing on time…

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Volume 3, Issue 7 July 2018

Excerpt: In-Focus – Connecting the Blocks: Practical Applications of Blockchain for the Mortgage Industry

This month, it’s all about disruption in our business lives. STRATMOR Principal Andrew Weiss, an architect of one of the biggest technology disruptors to date for the mortgage industry — Desktop Underwriter — has authored our lead article, an insightful look at what Blockchain might do for lenders in both the short and long term. STRATMORbelieves that Blockchain is a technology architectural principle that could do for mortgage what the web did for consumer purchasing — take the “friction” out of the borrower experience.

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Excerpt: The Borrower Experience

Dr. Matt Lind draws upon our June issue, “Plight of the Independent Mortgage Banker,” offering additional insightful growth strategy ideas that center on diversity and the borrower experience.

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Excerpt: Mortgage Metrics Matter

In our Mortgage Metrics Matters section, Senior Partner Nicole Yung offers insight into overall compensation when automation changes like Blockchain allow lenders to redeploy Post Closers and Shippers to other roles.

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Volume 3, Issue 6 June 2018

Excerpt: In-Focus – Plight of the Independent Lender

Senior Partners Jeff Babcock and Garth Graham set the stage for this discussion by summarizing the recent history and projected trajectory of mortgage origination volume and its purchase/refinance mix as the context for the challenges negatively impacting Independent lenders. Then, they identify possible strategies by which Independents might mitigage these challenges, including recommendations for cost reduction strategies and options of selling to or joint-venturing-with another lender.

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Excerpt: The Borrower Experience

MortgageSAT Director Mike Seminari addresses the hype around lender/loan officer testimonials and their effect on referral business. Only about two percent of borrowers cite positive online reviews as their primary reason for choosing a lender. In a nutshell: borrowers use online reviews to confirm a referral, not choose a lender.

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Volume 3, Issue 5 May 2018

Excerpt: Mortgage Metrics Matter

Sr. Partner Nicole Yung draws upon the results of our 2017 Technology Insights Survey, sharing the top five reasons why lenders are replacing their LOS – and what it’s costing them to do so. Replacement costs paid upfront to LOS vendors included both licensing fees and professional service fees related to initial implementation assistance. If you’re in the early stages or actively considering replacing your LOS, this piece should be both informative and helpful.

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Excerpt: In-Focus – Crossing the Digital Divide: In with the Old, In with the New

STRATMOR Principal David Moynan shares his experiences as he worked with LoyaltyExpress, a mortgage marketing automation and CRM firm.

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Excerpt: The Borrower Experience

Sr. Partner Matt Lind shares his analysis of two-year’s worth of MortgageSAT data and breaks out the details on the “why”
behind the borrower’s choice for purchase and refinance loans. You may be surprised by which reasons matter and which do not. As an upfront hint: Price is not a primary reason.

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Volume 3, Issue 4 April 2018

Excerpt: In-Focus – Regulatory Outlook 2018 Report: Ability To Repay (ATR) And Qualified Mortgage (QM) Regulations

Rob Chrisman and Matt Lind, Ph.D. report on the results of the March 2018 STRATMOR ATR/QM survey. A key finding: more lenders favor little to no change to these regulations. Find charts, tables and great analysis of the data in this report.

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Excerpt: Mortgage Metrics Matter

This month, we share results from STRATMOR’s Originator Census Survey, which features a comparison of 2016 to 2017 survey data.

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Excerpt: The Borrower Experience

The Borrower Experience analyzes how the borrower experience varies by origination channel.

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Volume 3, Issue 3 March 2018

Excerpt: In-Focus – Digital Mortgage: Growth Strategy or Technology Expense?

STRATMOR Group Senior Partner Michael Grad addresses what lenders need to do to deploy Digital Mortgage as an actionable growth strategy that defeats competitors and, at the same time, transforms the customer experience.

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Excerpt: Mortgage Metrics Matter

Select data from our 2017 Compensation Connection Survey, including results for key support positions, including Compliance Managers and Compliance Analysts.

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Excerpt: The Borrower Experience

The Borrower Experience highlights the impact when loan officers fail “The Seven Commandments for Achieving Borrower Satisfaction.”

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Volume 3, Issue 2 February 2018

Excerpt: In-Focus – Moving Forward In Reverse

STRATMOR Group Senior Partner Jim Cameron looks at the reverse mortgage line of business, primarily with an eye towards the potential opportunity reverse mortgages present for lenders currently focused on forward mortgages.

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Excerpt: Mortgage Metrics Matter

Select data from our Technology Insight Survey, including analysis of lender use of CRM systems that are native to their LOS versus third-party systems.

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Excerpt: The Borrower Experience

Our Speaking Borrower Satisfaction section has been renamed The Borrower Experience. Kicking off the renamed section, Senior Partner Dr. Matt Lind uses MortgageSAT data to take a deeper look at the importance of closing when expected.

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Volume 3, Issue 1 January 2018

Excerpt: In-Focus – Don’t Tread On TRID

STRATMOR Group takes a hard look at how the changes in CFPB leadership may affect the regulatory landscape and how lenders are likely to respond. Specifically, Rob Chrisman considers TRID and draws conclusions from STRATMOR’s MortgageSAT and Spotlight Survey programs.

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Excerpt: Mortgage Metrics Matter

Select data from our 2017 Compensation Connection Survey, including analysis of mortgage senior executive incentive compensation.

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Excerpt: Speaking Borrower Satisfaction

Our Topic of the Month analyzes the scale, scope and impact on borrower satisfaction of “problems” occuring during the loan origination process.

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Volume 2, Issue 12 December 2017

Excerpt: Speaking Borrower Satisfaction

Our Topic of the Month questions whether young borrower segments prefer LOs their own age.

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Excerpt: Mortgage Metrics Matter

Select data from our 2017 Originator Census Survey, including impact of timing on Originator turnover.

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Excerpt: In-Focus – Debunking The Myths Around Loan Officer Age

STRATMOR Group debunks the myths around loan officer age.

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Volume 2, Issue 11 November 2017

Excerpt: In-Focus – Top Of Mind Topics In 2017

STRATMOR Group reviews common topics that are “top of mind” with mortgage industry leaders.

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Excerpt: Mortgage Metrics Matter

Select data from our 2017 LOS Technology Insight Survey, including the top systems used by lenders and lender satisfaction with their Loan Origination System.

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Excerpt: Speaking Borrower Satisfaction

Our Topic of the Month looks to see how borrower satisfaction is impacted when a lender fails to advise borrowers purchasing a newly constructed home that they may have to provide documentation more than once.

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Volume 2, Issue 10 October 2017

Excerpt: In-Focus – Five Tips For Making The Most Of Digital Technologies

Senior Partner Garth Graham lays out five tips that can help lenders assure that they are making the most of their investments in digital mortgage technology.

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Excerpt: Mortgage Metrics Matter

Select data from our Originator Census Survey addresses how originator age and tenure varies between retail and consumer direct origination channels.

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Excerpt: Speaking Borrower Satisfaction

Our Topic of the Month considers if borrower satisfaction varies materially across various regions of the country.

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Volume 2, Issue 9 September 2017

Excerpt: In-Focus – A New Method For Measuring Lender Performance

This month, STRATMOR shares our perception that mortgage lenders have utilized virtually the same metrics to assess financial and operational performance for the past 30 years. STRATMOR has been exploring some new measurement techniques, one of which we describe in this article.

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Excerpt: Mortage Metrics Matter

Mortgage Metrics Matter presents data derived from our most recent Technology Insight Survey — looking to see how effectively lenders’ LOS systems provide compliance functionality.

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Excerpt: Speaking Borrower Satisfaction

Our Topic of the Month considers if borrower attributes such as race/national origin, marital status and amount of loan affect satisfaction.

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Volume 2, Issue 8 August 2017

Excerpt: Speaking Borrower Satisfaction

Our Topic of the Month considers how a borrower’s monthly income, buyer status, and residency status affect their satisfaction.

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Excerpt: Mortage Metrics Matter

Mortgage Metrics Matter presents data derived from our most recent Compensation Connection Survey — looking at how much paid-time-off and what 401K matches lenders offer.

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Excerpt: In-Focus – Getting The Right Technology

This month our In-Focus features an interview with Sr. Partner Nicole Yung regarding the importance of lender participation in our latest 2017 Technology Insight Survey (TIS).

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