Mortgage Banking & Technology: Lenders’ Perspective
The Financial Services Team at CC Pace is very proud to announce the posting of a new white paper, which is based on the results of a recent industry survey. The senior consultants in our Mortgage Practice periodically reach out to a broad cross-section of the industry to gather direct input on the mood in the marketplace, current trends, pain points, technology innovations and more. The results from a survey we conducted in late summer can be found in “Mortgage Banking & Technology: Lenders’ Perspective”.
In this white paper, you will find lender input on a broad array of topics, including the competing priorities in the current market, the role of technology in competitive advantage, lender satisfaction with current technology and current progress toward a digital mortgage. One of the things we at CC Pace like to think distinguishes our survey results from others in the industry is our approach toward capturing a detailed, open dialog with our participating lenders. While the white paper certainly includes numerous charts quantifying the various positions the participants have on an array of topics, it also includes a wealth of insight in the form of direct quotes from lenders (albeit provided with anonymity, as per our agreement with the participants) on many issues. We hope you will agree that our open dialog approach makes our industry reports compelling reading, full of insight and perspective.
We hope you will enjoy our latest white paper and the view put forth by our participating lenders. Please share your thoughts with us, both on the paper itself and on topics you would like to see us cover in a future survey. And please let us know if you would like to be included in our next market survey, currently targeted for the first quarter of 2018.
Pulling from our considerable experience with the unique aspects of implementing a mortgage loan origination system (LOS), CC Pace has recently published a new white paper on the topic, “The Art of Planning an LOS Implementation Budget.” The information covered in the white paper, while essentially specific to LOS implementations, is broadly applicable for any product implementation project.
Best practices indicate that thorough project planning is the most critical step for a successful system implementation, and we concur wholeheartedly. One of the key activities that should be performed during the planning phase is the development of a detailed implementation budget. The budget is particularly important when establishing expectations with Senior Management and gaining support for the effort. Too often, planners fail to consider the costs beyond those of the software, vendor configuration and any vendor-provided customizations when in fact the all-in cost of an implementation includes much more.
We hope that readers see the importance of taking a more comprehensive perspective when planning their next project and we welcome your feedback. What other line items do you include in your budget preparation process?