How many more loans could you close if you didn’t have to track down borrower paperwork? The mortgage industry is rapidly approaching the point of straight-through processing, where all of the necessary data to qualify a borrower comes directly from the source, is analyze automatically and generates an approve/deny decision without anyone ever having to touch the data. This objective approach to authenticating a borrower’s bona fides won’t just speed closing, it will also protect against investor buyback requests if the loan defaults. This reality is a lot closer than you think. However, to get there, loan originators must take advantage of the solutions on the market that make this scenario possible.
Read FormFree Founder and CEO Brent Chandler’s full article in the November issue of National Mortgage Professional magazine.
