Deep water divers are thrill seekers, most lenders can do without the excitement. You have enough to do trying to stay regulatory compliant without wondering if your loan origination system can keep up.
Last week, we started a conversation about shopping for LOS vendors and how important partnerships are for a successful implementation.
When technology shopping, are you looking for a partner or just a vendor?
What do your clients and potential clients need to know about technology in the next few years?
As data standards and verification capabilities continue to improve, the accepted methods for originating and underwriting loans will become more automated. We will see the use of paper continue to disappear being replaced with images and certified data. The use of cloud services will become more prevalent in all phases of the origination process leading to lower costs and more efficiencies.