The 2014 Mortgage Technology Awards are 15 years in the making and continue a long tradition of honoring the best and brightest industry innovators.
"There's a ton of people using legacy platforms or off-the-shelf systems and they're not going to replace them because it's such a pain," said Matt Woods, president of Genpact Mortgage Services.
Many lenders are wary of replacing their loan origination systems in order to outsource their operations. So Genpact Mortgage Services is offering an option that lets lenders add only the technology components they need.
National Mortgage News and Mortgage Technology are pleased to announce the finalists for the 15th Annual Mortgage Technology Awards.
The electronic document uploading and automated status updates in Roostify's technology create a mortgage process
Technologies that bridge the gap between originators and real estate agents are designed to improve communication and lead management, which is crucial when loan officers are competing for referrals from top agents in a purchase-driven market.
Several institutions said their underwriters already exclude paid and unpaid medical debt from their calculation, raising questions about what kind of impact the new model will have on lenders.
Ellie Mae COO Jonathan Corr projects the vendor can generate between $20,000 and $50,000 in annual revenue for each lender that uses Encompass Consumer Direct. Image: Randall Scott
Ellie Mae ties its fortunes to its clients' success with a pricing model that charges lenders based on the number of loans they close. Now it's found a way to monetize the applications that flow through its origination software but don't get funded.
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