Remember a few years ago when lender’s IT departments were thinking that blockchain was the answer to… whatever problem they thought it would answer? Every day blockchain talk has died down, perhaps because its application to residential lending is complicated, at best. But security is critical, and cutting theft and fraud is more important than ever given the lack of lender profits. I am a simple capital markets guy whose sense of value is even strained by record-setting baseball card values, and certainly can’t quite grasp the intricacies of blockchain, nor those of NFTs (non-fungible tokens), and when you combine them, well, count me out. But a report by the blockchain analysis firm Elliptic states that more than $100m worth of non-fungible tokens were stolen in a variety of scams between January and July of this year. I’ll continue to hang my prints of clowns on velvet and dogs playing poker on the wall where I can admire them. And just as easy to understand is the Fed’s take on interest rates. Federal Reserve Chairman Jerome Powell gave a brief and blunt message that the Fed plans to keep raising interest rates. The world hopes that its moves don’t accelerate a downturn… although economic downturns and lower inflation lead to lower rates. Lender and Broker Services, Software, and Programs Lenders need help protecting their high-value resources from wasting time on low-value, repetitive FAQs or tasks. Sound familiar? By shifting traditionally manual work to Capacity, lenders can increase throughput and efficiency, scaling their support for LOs, brokers, and customers alike. Capacity is an AI-powered support automation platform that connects your entire tech stack to answer questions, automate repetitive support tasks, and build solutions to any business challenge. See how it works. The Capacity team is heading to some exciting events, including the National Mortgage News Digital Mortgage Conference in Las Vegas, TMC Conference in Chicago, and Mortgage Bankers Association in Nashville. If you’ll be in Vegas September 13-15, join us on the main stage Tuesday, September 13th at 10 AM PST for a live demo of Capacity. Interested in increasing operating margins? Contact us to set up a time to learn more.
Source: Mortgage News Daily