In today’s higher interest rate, lower volume, purchase loan environment, success for lenders often hinges on having “feet on the street,” meaning community-based branch locations with local loan officers familiar with the market and realtors. This is driving an industry …
Joe Ludlow of Advantage Systems: The Power Of Bank Branches With Loan Officers
“Branches now are becoming more important. Loan officers are becoming more important,” Ludlow said. “I think the trend in the market in the next few years will be the formation of more branches.” Advantage Systems is a provider of accounting …
Joe Ludlow of Advantage Systems: Real World Applications for Real-Time Data, A Branch Manager’s Perspective
When it comes to the loan application process, lenders have been riding the real-time data wave for quite a while. With the ability to quickly verify borrower income and employment, paired with up-to-the-minute updates on appraisal, flood and title services, …
Joe Ludlow of Advantage Systems: For Lenders, Data Visualization Holds The Key To Maximizing The Value of Real-Time Data
Lenders have, for a while now, embraced the use of real-time data in the loan application and origination process. Notably, through verification of income and employment when evaluating borrowers or real-time updates to appraisal, flood and title services, time-to-close has …
Joe Ludlow of Advantage Systems: In a Tighter Market, Lenders Need Real-Time Data Across the Enterprise
“Despite embracing modernization when it comes to borrower experience and loan processing in the origination phase, many mortgage lenders still find themselves reliant on an outdated batch processing approach when it comes to back office operations and management of their …
Joe Ludlow of Advantage Systems: Cost Savings Considerations for Lenders in 2023
“As lenders budget for 2023 and factor in cost savings, they are realizing the importance of having branch-level profit and loss (P&L) data, especially as they are managing reductions of both fixed and variable costs. To learn more, MortgageOrb recently …
New Technology Accelerates The Speed Of Reporting For Mortgage Lenders
“In the current purchase market, where access to faster reporting is imperative to lenders’ branch profitability, Advantage Systems, a provider of accounting and financial management tools for the mortgage industry, announced today the availability of its new Expense Management Branch …
Joe Ludlow of Advantage Systems: The Role of Enhanced Branch Reporting in a Purchase Market
“The key to lowering existing operational costs to efficiently manage “the spend” lies in equipping lenders with access to faster reporting, including detailed insight into loan volumes or margins and profits, for each branch within their network. Automated reporting capabilities …
Joe Ludlow of Advantage Systems: Better Vendor Management Can Provide Immediate Results
“As lenders carefully evaluate their personnel and operating expenses, one area of focus that should be included is expense control. Too often, both loan and non-loan expense approval and reconciliation is managed through a labor-intensive, error-prone, manual set of processes. …
Joe Ludlow of Advantage Systems: For financial institutions in growth mode, loan-level detail is key
Whenever two institutions are consolidated into one, it presents a litany of logistical and operational challenges, and as the lifeblood of most institutions, particular attention must be paid to lending departments. Profitability drives growth and whether as part of an …