True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

Top CFPB official “hates” QM rules, jeopardizing safe harbor

A top CFPB official in charge of the rule-making process has heavily criticized the agency's own qualifying mortgage rule, jeopardizing safe harbor.

Fraud risk factors at closing increased almost 90% last quarter

A variety of risk factors could be contributing to the drastic increase in wire and title fraud risk factors in mortgage and real estate closings – for example, compliance issues and an increase in transaction data errors.

Mortgage

2017 HW Vanguard: Steve Smith

Chief Financial Officer at Stearns Lending

As a seasoned industry professional with nearly three decades of mortgage banking and financial services industry experience, Steve Smith, chief financial officer for Stearns Lending, has used his superior leadership skills and a strong background in financial systems, operational activities and compliance management systems to lead Stearns Lending into the digital age. smith

This past year, Smith worked closely with the company’s technology leaders and their teams and completed the successful transition of the company’s accounting, accounts payable and procurement functions to a seamless digital platform. 

The efficiencies and cost controls achieved had a nearly immediate impact. In addition, the platform allows for a full vendor management and maintenance cycle that is of immense strategic value for the entire enterprise – especially given the increased focus on compliance and managing vendor risk.

Many lenders face a digital divide – a state in which the customer-facing systems have gone digital, but the workforce has not. The new streamlined experience for the Stearns workforce makes the company one of the few that has removed this impediment and linked its team members to digital tools for support, connectivity and collaboration. Smith led this successful effort while also ensuring that his teams responsible for treasury and finance activities and strategies achieved superior performance levels in their respective disciplines.

“The benefits of our digital platform go beyond the quantifiable efficiency improvements and cost control numbers. The new streamlined experience for the Stearns workforce reaps both tangible and intangible rewards,” Smith said.

What’s the best advice you’ve ever received?

“Staying focused on what is important and not getting distracted by the fire of the day.”

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