TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/895084
FEATURE TH E M R EP O RT | 29 without sacrificing quality. "I really see MERSCORP as exceptionally well positioned with good market share and a key role to play in the digital mortgage space," Beckmann said. Forward Thinking T he housing market is changing. Home- ownership rates are at their lowest in decades, existing homeowners are aging, new homebuyers are entering the mar- ket later, and the population of modern homebuyers are projected to be much more diverse. Beckmann said how lenders reach this new audience—the messaging, under- writing, technology, and interface with those customers, has to change as well. "How effectively lenders and servicers ad- dress that change will create some winners and losers," Beckmann said. Weiss plans to meet the challenge through the adoption of technology and greater reli- ance on standardized data to yield efficien- cies that can be passed on from lenders to borrowers and create a more robust data set used for compliance. "One of the positive outcomes of a more technology-driven process is that mortgage professionals can move away from antiquated paper processing and toward customer ser- vice, which is where every mortgage industry participant wants to dedicate the majority of their resources," Weiss said. The industry must change with the con- sumer, though. In addition to homeowners aging, mortgage bankers are as well, leaving a younger and more diverse community to be the ones driving growth over the next 10 years, Beckmann said. "I still see homeownership as a critical part of the American Dream and a critical aspect of financial security, so those organizations that can recruit and retain high-quality talent that's well suited to the changing demograph - ics and tech-savvy emerging customers are poised to succeed, and those that aren't are going to suffer," Beckmann said. Having the groundwork and technology at the forefront of the company is an excellent way to spark that interest. MERSCORPs' No. 1 priority for 2018 is delivering their new plat - form, while simultaneously remaining focused on eNote adoption and assisting members with their transition to the technology. Weiss said the company will continue to listen to their customers to identify what areas of the market have inefficiencies and de - termine where MERSCORP can help, whether that means improving current services or expanding upon them. "I think we are uniquely situated to work with our membership to help them meet their goals," Weiss said. Weiss said the plans are to house the new system in the same data center in which ICE houses the New York Stock Exchange and other important market infrastruc - ture, using their own secure proprietary network (SFTI), which he believes MERS® System members will find great value in. "As our members continue to learn more about ICE's broader role within the global financial markets, we expect to hear more from them about areas that they would like MERS' assistance with, whether it is finding efficiencies within the mortgage process or le - veraging ICE's SFTI network to their benefit." The success of MERSCORP does not fall on the shoulders of one individual, as Weiss said he's been fortunate to have a strong team around him to ensure they meet those goals. "This success is evidenced by the stable op - erations of the company and we will remain committed to maintaining that level of stabil- ity as the company evolves." BRIANNA GILPIN, Online Editor for MReport, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation's leading diversified media and information services companies. "One of the positive outcomes of a more technology-driven process is that mortgage professionals can move away from antiquated paper processing and toward customer service, which is where every mortgage industry participant wants to dedicate the majority of their resources." —Brendon Weiss, SVP and COO, MERSCORP