The common themes of control, consistency and transparency targeted by the various new regulations are creating an increased need for more loan channel-agnostic mortgage operations and systems, according to one expert.
“I think that is becoming a bigger and bigger driver,” said Tom Mataconis, a vice president at Carlisle & Gallagher Consulting Group, in an interview with this publication about loan origination systems. Regulators, he said, “want to see control. They want to see transparency.”
Regulators have generally indicated they want to see “consistency across channels” and may be looking for it in investigations, he said.
Such an approach from the standpoint of automation has been somewhat “elusive,” but there is some potential for that to change going forward, Mataconis said.
