Loan originators have been finding it increasingly difficult to remain profitable in the face of increasing loan origination costs. Between declining loan applications, higher interest rates, and the increasing cost of compliance, an increasing number of originators are seeing a net loss on each new loan they originate. Now, Visionet Systems Inc., a global services provider to a number of industries including the US home finance business, has released a new eBook that could help. In the new eBook, the company outlines 6 ways to reduce loan production cost by 50%.
More than ever before, loan originators need access to right technology and variable priced back-office mortgage services to ensure the profitability of their loans,” said Alok Bansal, Managing Director at Visionet Systems. “We are always developing new ways to reduce costs for lenders, to simplify their lending process, and to provide them greater flexibility for meeting their varying production needs without incurring additional expenses. This new publication offers information that will help them.”
The new eBook details several tools and options for decreasing costs across the board, including bulk processing to reduce cycle time, utilizing pay-as-you-go services and variable staffing to meet changing demands, customizable QC applications to reduce errors and weed out bad loans with no upfront cost, and increasing flexibility in infrastructure, technology and people.
Visionet provides leading technology solutions in mobility, bulk processing, digital QC as well as several back-office mortgage services. All of these can help turn time by 25-30%, while reducing costs by over 50%. All of this while ensuring upwards of 99.5% accuracy. The free publication is available now: Download the eBook.
Visionet executives will be discussing these advancements at the upcoming MBA Annual Conference in Washington DC. Any interested parties can contact Visionet for a meeting time to learn more. For further information about any of these offerings, or for a free web-based demo, visit the company’s website.
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at email@example.com.