With nearly 35-million people having quit their jobs as part the “Great Resignation,” community banks find themselves not only competing for mortgage business but also top talent. Managed services provide community banks with a viable alternative to talent acquisition, ensuring they can continue to serve their communities and create increased access to homeownership.
With nearly 35-million people having quit their jobs as part the “Great Resignation,” community banks find themselves not only competing for mortgage business but also top talent. Managed services provide community banks with a viable alternative to talent acquisition, ensuring they can continue to serve their communities and create increased access to homeownership.
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.
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.
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.
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.
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,
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,
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.
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.
In the immediate mortgage-crisis aftermath, most consumers believed getting a mortgage was hard. And it was. But something changed. The past four years spawned multi-billion-dollar ad campaigns from mega lenders reassuring consumers that getting a mortgage is simple now - thanks to technology.
In the immediate mortgage-crisis aftermath, most consumers believed getting a mortgage was hard. And it was. But something changed. The past four years spawned multi-billion-dollar ad campaigns from mega lenders reassuring consumers that getting a mortgage is simple now - thanks to technology.
