TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/81279
COVER STORY here," she tells us. "So I think you have a genuine leadership that understands what's going on in the community," and she attributes any borrower loyalty to the approach. Washington, D.C.-based Callahan & Associates sketches a different picture. The law firm found in May this year that credit unions set records across the country by originating $26 billion in home loans over the second quarter, with mortgages averaging $161,549. Why the rush to credit unions? Look no further than banks. Fee hikes for debit card another reason why some con- sumers bank on credit unions like CFCU. "We have originators born users inspired a "Bank Transfer Day" in November last year that saw disgruntled customers switch to credit unions. With Barclays' LIBOR scandal fresh on the minds of many, experts expect that smaller financial ser- vices institutions will continue to reap the benefits. And that trend may just be and raised in this community," Whitaker adds. "Those ties have helped us to continue to increase our market share." "You have to take a holistic view to . . . your total cost per loan or you will fail to maximize your platform's potential." — Binh Dang news and strategies for the evolving mortgage market 5LENDING LEADER ment terms coming down the pipeline for originators, experts say that many struggle to make ends meet—literally, maybe, with end-to-end loan processes. Binh Dang, CEO of BINH DANG With new rules and settle- holistic view to all of the costs involved with your total cost per loan or you will fail to maximize your platform's potential," he says. Servicers understand the "You have to start by taking a importance of a comprehensive look at their home loans. A recent homeowner's bill of rights for Californians took a stab at the issue—a dormant one before the fi- nancial crisis that experts say made it that much worse—by banning dual-tracking processes altogether. Like other organizations in the mortgage technology field, LendingQB provides financial institutions and independent brokerages with mobile apps and the like. Seemingly unlike other competitors, it recently unveiled a start-to-finish, entirely web- based system that tracks loans from first base to home base. For Dang, the rush by mort- LendingQB, a Costa Mesa, California-based mortgage solu- tions technology provider, argu- ably works near the epicenter of a broad movement by originators toward simpler software solutions. gage industry professionals to new technology solutions reflects a simpler trend. "The mortgage industry is an incredibly fluid, regulatory intensive business climate," he tells us. "Meeting compliance change is atop the list of all organizations." THEMREPORT.COM JULY 2012 On Your Side: Mortgage Banking News, Done Better theMReport.com Originations At What Cost? Political infighting puts housing at risk as the approaching elections take precedence over economic stability. 39 ORIGINATION Investing in the Environment: Lenders and commercial real estate professionals are eying environmental property investments with increasing interest, but is the trend sustainable? 49 SERVICING Lessons to Learn Before the Market Turns: What residential servicers can learn from today's commercial real estate industry. 59 ANALYTICS What Do Borrowers Want?: Tracking today's consumer can be tricky, but a new report from the Demand Institute minimizes the guesswork in evaluating borrower behavior. 71 SECONDARY MARKET Diligent Change: Digital Risk wants to change the way mortgage risk due diligence works—for the better. Is there enough consensus for it to work? | Servicing | Analytics | Secondary Market Experts you trust. People you know. News you want. MReport brings today's housing finance headlines into focus. You know mortgage banking, and we know you, which is why you can count on MReport to provide insight into the latest industry innovations. Committed to giving originators, servicers, and all lending professionals access to smarter perspectives, MReport believes it's time to think differently about the mortgage marketplace. Because the American Dream is evolving . . . are you? Subscribe now! Call 800.856.8060 or connect with us online at TheMReport.com. THE M REPORT | 27