Paul Katz

About Paul Katz, Managing Director, Head of Bank Relations

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So far Paul Katz, Managing Director, Head of Bank Relations has created 11 blog entries.
  • process

Mortgage Fulfillment Onboarding: What Happens After the Contract is Signed?

2021-02-26T04:52:15+00:00September 18th, 2019|

Making the decision to outsource mortgage fulfillment and deliver the digital lending experience your customers demand is a pivotal step. And, it’s followed by an equally important one: Getting new solutions on board seamlessly and methodically while your business drives forward without a hitch or hiccup. The vendor onboarding process at Promontory MortgagePath isn’t simply a matter of grafting new technology and processes onto your existing systems and methods. Complex solutions require sophisticated implementation plans. A well-organized, transparent, and collaborative approach is crucial to a seamless and successful implementation. Oue Service Delivery Team members are your partners every step of the way, with a shared goal of ensuring a smooth and productive transition. We understand the stakes are high in any operational implementation, and no two transitions are ever alike. From the start, you can expect a clear project outline including key milestones and deliverables. But, “onboarding” is not synonymous

  • people

Are You a Good Candidate for Outsourced Mortgage Fulfillment? These Five Questions Can Help You Decide.

2021-02-05T15:35:17+00:00July 18th, 2019|

“Should I stay or should I go?”—The Clash In today’s volatile mortgage environment, many community lenders are reexamining their commitment to mortgage operations or withdrawing from residential lending altogether. But, with the single-family mortgage often functioning as a cornerstone product for community lenders, many are asking themselves: Do we really want to send customers across the street for a product our communities expect us to offer? More and more lenders are turning to outsourced fulfillment to continue offering this core product. But, is outsourced fulfillment right for all local lenders? Is outsourcing an option you should be exploring? To help decide, ask yourself: Why are you in the mortgage business? Are you offering the digital customer experience large lenders and FinTechs are marketing? What is your current monthly loan volume? What is your residential lending growth strategy? What are your fully-loaded origination costs per loan? Why are you in the

  • levels of costs

With Record High Mortgage Origination Costs, Can You Actually Save with Outsourced Fulfillment?

2021-02-26T04:52:58+00:00July 18th, 2019|

Mortgage origination costs keep climbing, reaching a record $9,299 per loan in the first quarter of 2019, according to the Mortgage Bankers Association. This upswing has been fueled by rising compensation, benefits, technology and compliance costs, putting pressure on margins and leaving originators in a tight spot. Source: American Banker Outsourced mortgage fulfillment is recognized for its ability to help mortgage lenders manage costs and remain competitive in the face of ever-increasing built-in expenses. Many forward-looking lenders are embracing comprehensive outsourced fulfillment solutions to improve results, save time and free up resources to focus on the customer experience and contribute to overall business growth. But where can lenders actually save by outsourcing their mortgage operations? Does outsourcing really reduce cost and increase lender profitability? In a word: Yes. The key is to control what you can – and you can control fulfillment costs (and gain added savings along the

  • signing papers

The ABA Endorsement Process and What it Means for Banks

2021-02-26T04:53:58+00:00May 24th, 2019|

Bankers enjoy a dizzying array of opportunities to leverage new partnerships to cut costs, boost profits, improve technology, enhance the customer experience – and sometimes – all of the above. That’s the good news. The not-so-good news is sifting through an increasingly complex landscape of new entrants and established vendors and vetting potential partners takes time, energy, expertise and money– often more than any one bank can easily manage. This is where a national trade association is uniquely positioned to add value. It can spread research costs across a diverse membership base while evaluating best-in-class providers offering a broad range of products and services. THE ABA ENDORSEMENT PROCESS The concept behind the American Bankers Association’s due diligence process is as simple as it is successful. Its process identifies proven, reliable vendors while saving banks time and money – and uncovering areas of information that could otherwise be difficult to obtain.

  • business professionals shaking hands

The Banking Technology Roadmap: Successful Fintech Partnerships

2020-12-15T15:09:22+00:00May 18th, 2019|

Borrower expectations are shifting. Fast, secure, and accessible digital services are no longer an advantage – they’re imperative to remaining competitive. With the rising popularity of non-traditional banks and lenders, banks are seeking innovative ways to meet changing expectations, compete with new challengers and remain profitable. Last week, banking professionals in the areas of information systems and security, compliance, risk and more gathered at the New York Bankers Association’s (NYBA) Technology, Compliance & Risk Management Forum to discuss industry trends, emerging technologies and best practices. I hosted a session at the Forum, where I spoke directly with attendees about the future of digital banking. The session – The Banking Technology Roadmap – explored best practices when partnering with fintech companies and previewed what’s on the fintech horizon. Here are some of the session takeaways: BEST PRACTICES WHEN PARTNERING WITH FINTECH COMPANIES PLAN Know the tech budget What percentage of your

  • Houses

Four Reasons Why Outsourced Mortgage Fulfillment Warrants a Fresh Look

2020-12-15T15:09:42+00:00May 18th, 2019|

Even in the best of times, mortgages can be challenging for community lenders. Fannie Mae reduced its 2019 volume estimate, and the 2020 outlook isn’t much better. Average origination costs have hit a new high – $10,200 according to research by the Mortgage Bankers Association and Stratmor – squeezing margins even more. Factor in increased competition – and the added tech investment – from money-center banks and fintechs, and it’s safe to say we’re confronting some stiff headwinds. Recently, three mid-size banks examined their situations and concluded exiting the mortgage business was their best option . As one CEO summed it up: "We have been in the mortgage banking business for many years and have weathered unfavorable mortgage banking environments in the past. Unfortunately, the current poor operating environment is coupled with fundamental changes in the mortgage banking industry, such as more burdensome regulations, required investment in expensive technology, fierce competition,

  • laptop with 2 phones

Digital Transformation: The State of Play for Community Bankers

2020-09-24T14:23:21+00:00February 22nd, 2019|

BY PAUL C. KATZ Digital Transformation: The State of Play for Community Bankers Digital transformation was on the program – and on the minds of the attendees – at the American Bankers Association Conference for Community Bankers in San Diego this week. I moderated a panel featuring Bryan Luke, President and Chief Operating Officer of Hawaii National Bank, and two of my colleagues, Ken Janik and Colgate Selden. We spoke directly with conference attendees about the relationship community banks have with digital lending. Our panel – Digital Lending: Risks and Opportunities – explored the economic, technological and social forces driving digital transformation efforts. We examined different tech-implementation strategies bankers are considering and conducted real-time audience polls, providing timely insight into bankers’ thoughts on digital lending. Here are some of the highlights from Tuesday’s session. We set the stage by sharing some provocative predictions from leading industry consultants and