If you’ve been to the gym lately, its packed with people fulfilling their New Year resolutions. Each year begins with opportunities for change, and that’s what you’ll see with the January Insights Report.
In our lead article this month, Senior Partner Garth Graham talks about the changes we’re seeing in the industry that are supported by the findings in our 2018 Technology Insight Study. Garth is on point in terms of his observations and recommendations. You’ll want to read through to the last section where he provides insightful questions every lender should ask before buying new technology. In our second article, MortgageSAT Director Mike Seminari answers the question, “When it comes to the borrower experience, how important are peer comparisons?”
We hope you find this month’s issue easy to access and noteworthy.
By Garth Graham January 2019
In 2018, I spent a great deal of my time talking technology with lenders. Anyone who has engaged in a technology conversation with me knows that I have lots of thoughts on a wide variety of technology solutions available in the market. And, that I’m not shy about talking about the good and the not-so-good of what’s out there on the market today.
But as much as I like to share what I think, what I like even more is to hear what lenders think about the technology they are using. Even as lenders tell me about their experiences, they are all asking me the same questions: What technology is everyone else using? Is there any comparative information out there about the systems that isn’t generated by the vendors? Where can I get the straight story on technology? And what should I do next?
When it comes to borrower satisfaction, just how important is peer comparison? According to Mike Seminari, Director of STRATMOR’s MortgageSAT Program, it’s the difference between throwing darts at a map and having a GPS.
Senior Partners Jeff Babcock and Garth Graham provide the context for the challenges negatively impacting Independent lenders and identify possible strategies by which Independents might mitigate these challenges.
There’s no doubt about it: consolidation in the industry is increasing. Sr. Partner Jim Cameron reports on the big jump in M&A activity from 2016 to 2018, the indicators signaling a down cycle and strategies for lenders in this challenging market.
Senior Partner Garth Graham lays out seven common-sense rules for achieving mortgage borrower satisfaction.