Items Tagged with 'Vendor management'

ARTICLES

  • Here's what lenders can do right now to reduce record loan costs

    WESTvm provides appraisal, title, flood, tax and more through one integrated tech platform
    With origination costs continuing to climb, finding efficiencies in the mortgage process is critical for lender profitability. Effective vendor management is a key driver in this process, and the comprehensive suite of services offered by WEST, a Williston Financial Group company, saves lenders time and money on every loan file.
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  • Setting the 2019 budget for your mortgage business?

    The right technology partner is more important than ever
    In the midst of significant economic headwinds, lenders are developing their 2019 budgets, and top concerns include increasing production and decreasing turn-times. The prime driver for the next year has to be efficiency, which makes choosing the right technology partner especially important. Lenders using FirstClose are seeing efficiencies in two areas that will be critical for success in the next year: home equity fulfillment process and vendor management.
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  • Sponsored By
    FirstClose

    Through reporting and analysis, FirstClose leverages data to close the gap on vendor management

    The company goes beyond vendor management to give lenders a holistic view
    Financial institutions rely on their vendor partners for critical services and solutions. But understanding how vendors are actually performing — and where another vendor could offer better performance — is beyond the scope of most vendor management systems. Lenders need a truly objective look at their business processes which is only possible through reporting and analysis.
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  • How do you pick the right technology vendor?

    Lenders discuss the challenges of integration and adoption
    If consumers feel like getting a mortgage is akin to going to the dentist, lenders feel like implementing a new tech solution is the equivalent of going to an oral surgeon. During a small breakfast meeting at the Ellie Mae Experience conference in Las Vegas this week, HousingWire's Sarah Wheeler sat down with a group of lenders and vendors to talk about emerging tech trends. But in addition to the trends they discussed, another issue emerged: just how difficult it is to choose a technology vendor.
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  • Transparency: The ultimate tool for risk mitigation

    Going beyond scorecards
    Lenders bulked up their vendor management and vetting programs in recent years, mindful of the fact that the CFPB will hold them accountable for the actions (or misdeeds) of their service providers. But while scorecards and financial audits are great, are you sure your service providers are staying the course when it comes to quality and compliance?
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  • From the lenders: What to look for when it comes to building a vendor network

    "Is this someone with whom I want to do business?"
    In the past two years, the vetting and oversight of third party service providers has gone from being a minor consideration for the vendor management department to a core focus in the boardroom. We spoke with several lenders to get an idea of what they rely upon the most. While the production teams tended to focus on the here-and-now of the transaction, the executives seemed a bit more concerned with the potential future results of service provider performance.
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  • 6 critical areas vendors need to deliver for the FHA’s CWCOT program

    Compliance risk mitigation requires careful coordination
    While the primary goal of the FHA's "Claims Without Conveyance of Title" program may be to encourage a faster sale of the property, the CWCOT program involves far more than just arranging for a sale of real estate. To help properly execute the program, here are six areas in which a vendor must perform exceedingly well in order to put a working CWCOT program together.
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  • Is the mortgage industry entering a new era of partnership?

    Regulatory and market pressures could force increased collaboration
    Title companies are beginning to pool their resources with former competitors, forming alliances to leverage their resources and assets and thereby cutting costs (e.g. with “back office” functions). This is less likely a trend than it is a new “normal.” Together, the industry needs to seek ways to become even more efficient.
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  • Executive Conversation: Milt Shaw on leadership and vendor management

    PEMCO Limited meets compliance challenges head on

    As an AMC, compliance with regulations is a critical component to success. We maintain strong relationships and continuously outperform our competitors. Regulations differ from state to state so we decided to grow slowly and concentrate in building a strong client foundation in California prior to evaluating opportunities in other states.


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