This Commentary had a great quote on Monday asking lenders, “What are you doing to fix it?” In his Monday Commentary, the MBA reported a net loss of $40 per originated loan for independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks in the fourth quarter. Those lenders that serviced saw an income of $142 per loan and for the lenders that had both channels, 61% were profitable. A compelling reason why everyone should consider entering the servicing industry. It’s not as hard as you think if you have the right modern, cost-effective system to help you build your future-proof annuity and retain your hard-earned customers for life. MortgageFlex has helped numerous lenders transition into short-term and full servicing with the most work queue-driven, automated servicing and default solution on the market. Built for servicers, by servicers. Here is a sneak peek demo or contact John McCrea.
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