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•White Paper: Operational Excellence For The Mortgage Industry

The mortgage industry is currently witnessing challenging times, with lenders seeing a cyclical shift from a high-growth industry to a low-growth, low-margin one. In an increasingly commoditized market, product innovation is difficult to sustain. Consequently, flawless, automated operations will be a major factor in future competitive sustainability. With lower volumes forcing lenders1 to keep a constant eye on the cost side of the cost-income ratio, lenders are looking to achieve better operational efficiency and simultaneously improve time-to-market as well as customer service, satisfaction and retention.

Against the backdrop of a tough set of strategic imperatives, the external pressures faced by lenders are greater than ever before. Regulatory changes such as the Sarbanes-Oxley Act and changes to the Home Mortgage Disclosure Act (HMDA) are forcing lenders to placed renewed focus on process and data management, while emerging standards, such as those put in place by the Mortgage Industry Standards Maintenance Association (MISMO), are creating new challenges for lenders in terms of content management.

As such, achieving operational excellence is now top-of-mind for leading mortgage lenders. Maximizing the efficiency of the lending process and moving towards the paperless eMortgage is vital if lenders are to maximize productivity and offset margin pressure effectively. However, several significant hurdles stand in their way – notably the paper-ridden environments that continue to affect many major lenders, particularly in the post-close, shipping and delivery phases of the mortgage process that have thus far seen limited technology investment.

This white paper examines the key technology and operational pain points faced by players in the mortgage industry. It then goes on to discuss how investment in the enterprise content management (ECM) solutions to tackle the traditionally high-cost post-close and shipping and delivery processes should be a critical part of any lender's operational excellence strategy. It concludes with an examination of how Hyland Software, a primary vendor in the space, is seeking to help lenders move towards a paperless eMortgage with a cost-effective hybrid approach that allows lenders to achieve efficiencies without taking the high-risk, "big bang" step of moving to an end-to-end eMortgage.

Downloads:
•White Paper: Operational Excellence For The Mortgage Industry