Limited housing supply hurt lenders’ efficiency metrics in 2018, according to a benchmarking study by Mortgage Cadence. The average time to close a mortgage increased sharply and pull-through rates declined.
Mortgage technology company Blend this week raised $130 million in a new round of funding. The company said going public is a “possibility” in the future.
A growing number of lenders are considering creating their own loan origination systems using technology from a variety of firms rather than using the traditional single-vendor LOS.
Mortgage lenders and loan originators can increase production by using proximity marketing through cell phone beacon technology, according to industry participants.
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