Record-breaking mortgage rates and closed loan volume have dominated national news for the last year; however, conversations abound regarding potential future market changes. Both new and long-time mortgage brokers know that the mortgage industry is nothing if not unpredictable. While it can be exciting to ride the wave when the industry is thriving, it’s also important for brokerages and loan originators to consider strategies for continued long-term success.
Effective and efficient mortgage loan processing is one of the easiest ways mortgage professionals can help improve clear-to-close turn times, not only to secure new business, but to also increase borrower satisfaction. The first third-party mortgage processing solution with an all-in-one digital platform, wemlo℠ offers an efficient, first-class loan processing experience for mortgage brokers.
Securing a sustainable mortgage processing solution was key for Annette Beckwith, VP of Operations at East Shore Mortgage Services, a small mortgage brokerage in Connecticut. Now with five mortgage loan originators and plans to hire more during the busy summer season, the office’s two full-time in-house processors needed help. “We use wemlo as an overflow processing source, which has proven incredibly useful. The entire wemlo team has been phenomenal,” Beckwith said.
Barry Ingram, broker owner of Motto Mortgage Independence in Texas, thinks similarly. “Wemlo processors feel like they are part of my company.” Ingram had so many loans flow through his office this past year, his in-house processors couldn’t keep up and it was becoming onerous for newer loan originators in his office who weren’t as familiar with processing. “Since I started using wemlo, our mortgage loan processing has become more regimented, predictable and traceable,” Ingram added. “Now I know that even my new employees have someone available to help them if needed."
As the mortgage and real estate industries continue to embrace technology solutions, utilizing wemlo’s award-winning multifaceted platform and third-party mortgage processing services can help mortgage brokerages set up for success, regardless of industry highs and lows that may be on the horizon.
Interested in learning more about how wemlo’s third-party processing services can benefit your business? Watch a 60-second tutorial or book a 30-minute demo today.
