Pricing exceptions are widespread in mortgage — and so are the regulatory risks

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Awards

2020 HW Woman of Influence: Kara Lamphere

Mid America Mortgage, Chief Operating Officer

Kara Lamphere

As the architect of Mid America Mortgage’s eMortgage strategy, Kara Lamphere has continued to push the envelope regarding what is possible for lenders in today’s origination environment.

In addition to crafting Mid America’s 2016 cross-channel transition to eClosings and eNotes, Lamphere was also the driving force behind its direct-to-consumer digital mortgage platform, which earned her recognition as one of the Mortgage Bankers Associations’ Tech All-Stars in 2019. With the digital mortgage process Kara implemented at Mid America, the organization has been able to reduce its cost-per-loan by 25% since going live in 2017 and currently accounts for a significant portion of both Fannie Mae’s and Freddie Mac’s total eNote purchases. In 2019, Mid America executed 90.23% of its total retail production and 41.28% of its combined wholesale and Section 184 production using eClose. Not content with these efforts, Lamphere has continued to move the needle in terms of Mid America’s utilization of available digital mortgage solutions, including remote online notarization. The digital ecosystem Lamphere built at Mid America has not only enabled it to sustain relatively normal operations, but the company was also able to maintain its 600 to 680 FICO requirements for FHA, VA and USDA loans during the COVID-19 disruptions.

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