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"We wanted to think about the end-to-end journey, and really thinking about the consumer and not necessarily the transaction," said Nick Stamos, the founder of Sindeo.
San Francisco-based Sindeo is trying to bring the mortgage brokerage business into the future, creating a new online service that focuses on helping consumers navigate the often confusing mortgage process from start to finish.
A loan officer who uses a mobile device can provide clients with concierge-level service, said Abhinav Asthana, a product manager at Wipro Gallagher Solutions.
Most millennials do almost all of their other business on a portable device, so they want to have this same functionality when buying a home.
Kelly M. Adkisson is a managing director with Accenture Credit Services.
To take advantage of changing customer demographics and preferences, lenders must capitalize on digital technology. At the same time, digital technology should work in conjunction with, not as a replacement for, the loan officer.
Ellie Mae's new CEO Jonathan Corr said the company will stop supporting the self-hosted version of its origination system at the end of 2016.
Users of Ellie Mae's self-hosted loan origination system will soon have to make a choice: migrate to the software-as-a-service version of Encompass or switch technology providers altogether.
Avi Naider is chairman and chief executive officer of ACES Risk Management Corp. (ARMCO).
The Qualified Mortgage rule, as well as increased scrutiny and more frequent auditing by regulatory agencies, has required lenders to embrace quality control to a far greater degree.
New disclosure rules from the Consumer Financial Protection Bureau don't go into effect until this summer, but lenders are already worried about compliance and fearing it may make the closing process far more difficult.
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