[Expert commentary] Technology innovation is rapidly permeating every aspect of mortgage lending to streamline the loan manufacturing process and open the door to a better borrower experience. We are already seeing a measurable reduction in turn times with no degradation in quality, and more progress is expected. The desire to achieve more efficient and accurate valuations that will bring consumers to the closing table faster is no longer an aspiration, but a reality.
When it comes to valuations, every lender wants reasonable cost, high- quality and timely turnaround. However, we have been conditioned that the appraisal process has trade-offs—you can have two items on the list, but not all three at once.
The first thing you notice about New American Funding's Rick and Patty Arvielo is how much they like each other. That might seem like a foregone conclusion when you meet a married couple, but when that couple also runs an incredibly successful business together, I imagine it could get complicated. Read on to find out more about how this successful couple manages their life, and business, together.
For the first time since 1981, our industry is experiencing a rising interest rate environment. Some people may assume that the current market shift means their business will take a downward turn from which they will never recover. I don’t buy it. The way I see it, challenging times force us to refine our processes and practices.