At the L1 Summit, technology is obviously a key segment of many sessions. Tech is helping larger companies in their moves in controlling the borrower funnel. Artificial intelligence (AI) with its pros and cons but hoped-for benefits to productivity and therefore cost reduction, is a common conversation topic. Third party provider offerings are also theme. especially when it comes to technology and marketing. “Rob, I know that you have job ads in your Commentary, but we’re looking for a CRM that works well with lenders. Can you recommend someone?” In our Marketplace we have Total Expert, Volly, Insellerate, Usherpa, MortgageHalo, OptifiNow. Data mining is not new. Trivia experts know that many years ago there was a conspiracy belief that Baskin-Robbins, which recently turned 80 and gives away a free scoop to people on the BR birthday list celebrating their birthday, sold its birthday list to the U.S. Government’s selective service for draft purposes.
That was not true. Many decades ago the Selective Service did, however, use Farrell’s birthday list which, when this was found out, quickly came to an end. (Today’s podcast can be found here and this week’s ‘casts are sponsored by Feewise, which turns mortgage compliance from bottleneck to business accelerator. Handle all the complexities involved with establishing TRID compliant fees and disclosures, achieve sign off, and deliver packages to your consumers for review or signature. Hear an interview with ACES Quality Management’s Sharon Reichhardt on improving productivity and mortgage loan quality while controlling costs and risk.)
