Posted To: Pipeline Press

“Life is like a helicopter. I don’t know how to operate a helicopter.” Remember how exciting it was when the technology of spellcheck came along? (People handwrite “congrats” on cards because they can’t spell “congratjulashons.”) Lenders alternate between being too busy or too poor to roll out new technology, but somehow they do. They have to. A recent STRATMOR workshop found that processing is currently the #1 bottleneck in operations. And every ops manager person says that bringing new processors up to speed remotely is difficult. (Underwriting and closing closely follow.) Midwest lenders who have not had to compete for operations staff from a salary perspective now must “step up” compensation plans in order to attract staff from…(read more)

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Source: Mortgage News Daily