by William DiPaolo
As our Roohmz Loan Production platform evolves , the more I realize that traditional industry and technology protocols must be disassembled. It isn’t enough to add new software to your mortgage firm if management continues to operate using a manual origination process. Instead, mortgage executives should view mortgage production as a “manufacturing” process – with data entering as “raw material” and finished products exiting as highly compliant, perfect loans.
The internet brings a new level of connectivity to mortgage origination in which files can flow from person to person regardless of their geographic proximity to the file’s previous employee. New levels of communication between employees, business partners and the borrower can greatly reduce inefficiencies. A new working origination model is supported by software specifically designed to facilitate it. Roohmz is designed to support the next generation of mortgage lenders.
In last month’s Mortgage Banking Magazine, I wrote an article that highlights the fundamental business changes that will be necessary to compete and thrive in the increasingly regulated future. These changes involve not merely restructuring jobs and physical offices, but the article goes on to explain how hiring and training can be dramatically streamlined.