[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.
Eight years after we began recognizing women for their influential work in the expanding housing and mortgage finance ecosystem, a traditionally male-dominated field, our Women of Influence list is bigger and better than ever! This year, we honor 85 women who are making lasting achievements in each sector of the housing economy. Read on to learn more about these accomplished women and the strides they are making in their industry segments.
The financial world at large is experimenting with changing its workforce culture in ways not fathomable 10 years ago. For example, in 2011, the dress code for female workers at UBS came to light with unflattering results. In it, the Swiss bank instructed female employees on not just how to dress and how to smell, but also preached the importance for ladies to apply lotion after taking showers. Fast forward to today and fellow Swiss bank, Credit Suisse has now created an official role to boost equal opportunities and create a fair treatment environment. Has the American mortgage industry made similar progress?
The conversation around student loan debt and its economic impact on Millennials, those born from 1980 to 1998, has some questioning whether the future of the American Dream is in jeopardy. The nation’s student loan debt has soared to $1.4 trillion, surpassing credit cards in becoming the largest source of personal debt outside a mortgage.