You may have seen the news recently that MortgageFlex has published a new White Paper on the industry’s first unified technology platform for both loan origination and mortgage servicing. The paper talks about the platform, of course, but what it really focuses on is the need for lenders to find new sources of revenue in this challenging mortgage market.
It’s true that the Mortgage Bankers Association still expects to see nearly $1.7 trillion in new loans originated this year. But that’s a far cry from the $4 trillion plus the industry saw just a few years ago. We still have excess capacity and extremely low profitability, which means many lenders will suffer.
The lenders who will likely suffer less will be those who can service their own loans and pick up the servicing revenue. But those margins are paper thin and to really make money there, you need really good technology.
And that brings us back to the unified platform.
A better way to run a mortgage business
As you likely know by now, MortgageFlex has developed the industry’s first and only unified platform for both mortgage origination and servicing. The MortgageFlexOne is a browser-based LOS that offers significant improvements in all areas of development including bilingual POS/mobile, the presentation layer, business rule engine, workflow system, communications layer, imaging capabilities, and business intelligence tools.
The MortgageFlexONE servicing platform uses an open, modern sequel database that provides the servicer access to their data at any time. The system includes simple-to-use industry-standard reporting tools. The servicer may also access their data with third-party tools. Further, MortgageFlex makes converting the servicer’s existing data simple.
Together, these two systems create the industry’s first unified platform that can take a loan from application all the way to servicing, a single database for the entire life-of-loan.
Our new White Paper is entitled, “The Depository’s Secret Weapon: A Unified Loan Origination and Servicing Platform.” Read the paper and let us know if it doesn’t get you thinking about servicing your own loans. We suspect it will.
Even if it doesn’t, it will tell you why many lenders are focused on solving the wrong problems. They are correct to be concerned with the high cost to originate, the struggle to get employee adoption of new technologies and the crushing cost of compliance. But by focusing on getting the right tech stack, these problems will be simpler to solve.
As our COO Craig Bechtle put in the recent news release: “The days of depending upon multiple technology partners for the various core systems required by the mortgage lender are ending. Our software will allow them to do that with the help of a single technology partner and a unified tech stack. Our session will give them the information they need to sharpen their pencils and grow their membership.”
To get a free copy of the new White Paper, you can download it here.
About MortgageFlex
MortgageFlex Systems develops smart software solutions for the mortgage industry, offering the most cost-effective mortgage loan origination system and servicing software for retail, wholesale, and correspondent channels. The company offers the industry’s only tightly integrated origination and servicing software, along with 24/7 support, hosting, managed services, and implementation.
MortgageFlex Systems looks to cultivate a strong partnership and is dedicated to helping reach your optimal potential with our LOS, MortgageFlexONE- “The New Peak of Efficiency.”