Tag Archive for: technology

What Makes the Commoditization Of Mortgages Terrifying? Why Consumers Think Mortgages Are Like Corn, Oil, Soybeans & Copper; Why It Matters

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The perceived commoditization of mortgages terrifies mortgage lenders for several reasons: low margins, high-cost structures, the necessity of high-touch service, just to name a few, so what's a lender to do? Step one, stop whining! It's our job to continue to cut costs while still providing stellar service and educating agents and buyers alike that mortgages are not commodities.Read More

A.I. Will Create Far More Jobs Than It Kills

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I had a friend in high school who worked for Sentry Insurance as a typist for what would be about $40 per hour today – and man was I jealous. The law firms and investment banks I worked at in the 1980s also had “typist pools” for the old guys (we youngsters were utterly perplexed by the inefficiency ofRead More

Do Some Loans And Lenders Require More Work From Borrowers?

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MASSIVE TECH SPEND – FOR BORROWERS We spend about $750,000 per year on various technology applications with the primary goal of making the mortgage process as simple and as efficient […]Read More

Why Hiring Recent College Grads In The Digital Age Is SO Necessary And Valuable

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We have a large “Technology Committee” that meets every Friday to review and discuss all of our tech issues, opportunities, and solutions.  During last Friday’s meeting, two of our newer […]Read More

When Getting A Loan Is As Easy As Buying A Fridge At Best Buy

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In 1999, I needed a new car. Not being particularly into cars, I asked a buddy, who was into cars, what kind of car he recommended. At that time, he […]Read More

Economies Of Scale; Competing In A Post-Boom World

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Last Friday, I blogged about how Ford Motor Company dominated the auto industry in the 1910s by cutting costs so much that they could sell cars for less than 1/4 […]Read More

WWI General Court-Martialed for Bucking the System/Recommending Better Tech!

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General Billy Mitchell is one of the more fascinating stories in American military history. He was a WWI combat hero who ended up in charge of airplane and tank development […]Read More

Excessive Worrying About Tech Disruptions

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JVM WILL DIE (or change) (a lot) 10 years from now JVM Lending will not exist… in its current form (or anything even close). The same holds true for ALL […]Read More

Charles Schwab No Longer Charges Commissions for Trades

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Charles Schwab started to offer discount brokerage services (low commission trades) way back in 1975. Much of the financial industry paid little attention to the upstart firm but it nonetheless […]Read More

Only 12% of Clients Use Their Agent Again! How To Stem the Loss

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I recently sat on a tech panel where some fascinating survey results were shared. 88% of all homeowners surveyed said they would use their real estate agent again if they […]Read More

Technology Working – Finally! Small Businesses Can Compete With Big!

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SOFTWARE FIRM HONORS PROMISES – 20 YEARS LATE I frequently tell a story about a huge mortgage software company (now the biggest in the industry) that came to me in […]Read More

Only One In Five Willing To Apply for a Mortgage Online

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We recently spent $26,000 on a new “point of sale” platform (Blend) to make it even easier for our borrowers to apply online. This was a lot for us as […]Read More

What Homebuyers Really Want In A Lender

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The lender you refer your clients to is a reflection on you. I repeat that often because it is true and because we meet so many agents who are having […]Read More

JD Power’s Mortgage Lender Survey – What Borrowers Want

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The lender you refer your clients to is a reflection on you. I repeat that often b/c it is true and b/c we meet so many agents who are having […]Read More