A number of factors beyond offering mortgages with low interest rates can help boost customer satisfaction, said Strategic Mortgage Finance Group. Officials at the advisory firm suggest that communication with borrowers can help reduce complaints. Garth Graham, a senior partner at Stratmor and head of its marketing strategy and execution practice, said lenders can gain market share by using seven practices to improve borrower satisfaction. His advice was based on ...
Nationstar Mortgage has moved its offshore call centers back to the U.S. to improve service to customers, particularly those who prefer to deal with domestic company representatives. The Dallas-based nonbank described the move as part of its two-year plan to become more customer-centric and provide more personalized service to its more than 3 million customers. The shift starts with rebranding, which appears designed to create the impression that the customer is dealing with ...
loanDepot would like to see more digital closings, according to Dominick Marchetti, the firm’s chief technology officer. The loanDepot official said there has been very little use of e-closings since he first witnessed one over a decade ago in 2002. “It’s fairly disappointing, actually,” Marchetti said, adding that fewer than 100 digital mortgages are closed per month. Only 1,600 of the nation’s 3,800 counties are equipped to handle digital closings, he added. The slow adoption rate ...
Mortgage escrow accounts are getting more popular among lenders and borrowers on both state and national levels, according to CoreLogic, a provider of financial analytics and business intelligence. The analysis confirms a trend observed over the past several years to move borrowers to mortgage escrow accounts, said CoreLogic Principal Dominique Lalisse. In a blog, Lalisse noted that nearly 80 percent of borrowers have established escrow accounts from which ...
Mortgage-banking activity slowed significantly at commercial banks and savings institutions in the first quarter, according to a new Inside Mortgage Trends analysis. Banks reported a total of $71.99 billion in retail 1-4 family originations in their mortgage-banking operations during the first three months of 2017, down 40.1 percent from the fourth quarter of last year. Loan sales volume also fell off sharply, dropping 29.1 percent to $163.75 billion during ... [Includes one data chart]
Over the past 18 months or so, the DOJ has expanded FCA use to reverse mortgages and loan servicing, according to attorneys Phil Schulman and Kristie Kully…
Banks, thrifts and credit unions accounted for 50.5 percent of first-lien mortgage production by the top 100 lenders in the first quarter, according to survey figures compiled by Inside Mortgage Finance…
Nearly every cross-section of the mortgage production business saw sharp declines in lending volume during the first three months of 2017, leaving the distribution of new originations virtually the same as last year. Banks, thrifts and credit unions accounted for 50.5 percent of first-lien mortgage production by the top 100 lenders in the first quarter. Their combined volume was down 32.2 percent from the fourth quarter, while the 54 nonbanks in the top 100 had an aggregate decline of 32.6 percent. There was...[Includes two data tables]
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