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Article: The new mortgage banking business.(Cover Story)
- Article from:
- Mortgage Banking
- Article date:
- May 1, 1998
- Author:
CopyrightCOPYRIGHT 1998 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The move to tailor-made mortgages for each consumer will entail substantial revamping of the business operations and systems underpinning each mortgage banking firm.
The loan origination system that's needed must be able to deliver risk-based pricing that's real at the point of sale.
Technology is today's buzzword. Not only has technology become prominent at every mortgage industry conference, entire conferences are devoted just to mortgage technology. But in large part the real value of technology has been misdirected. Too much focus has been placed on reengineering existing processes vs. defining new processes consistent with the emerging paradigms in the ...