Matt Clarke is chief operating officer and chief financial officer for Brentwood, Tennessee-based Churchill Mortgage. With more than 21 years of experience, Clarke is a seasoned veteran of the financial industry. In his role, Clarke has helped migrate the corporation from a mortgage broker to a mortgage banker, implemented new origination and servicing systems, recruited and developed a retail branch network, and had a hand in many other processes responsible for the lender’s overall growth.
While some mortgage lenders fail to keep up with the changing times, others are excelling, capitalizing on the change and those who weren’t ready for it. So what’s their secret? Customer service? Technology? An innovative approach to loan originations, and who to lend to? It’s actually all of the above, and more.
According to Verizon’s 2019 Data Breach Investigations Report, 10% of the 2,013 breaches that occurred in 2018 were within the financial industry. Personal data was compromised in 43% of those breaches, which were largely attributed to privilege misuse, errors or unsecure web applications.
Rising interest rates often cause homebuyers to think twice about moving forward with a mortgage. In April, mortgage applications fell more than 7% after 30-year fixed mortgage rates reached a high for the month.