September 28, 2018
It is no surprise that mortgage origination volumes and margins have compressed across the board this year. And if lenders are going to be profitable, or even stay in business, they really need to focus on just one thing.
They need to stop pricing loans they are losing money on.
Yes, it’s that simple. At least according to Mike McFadden of Riivos, a provider of cloud-based, value chain management applications for the mortgage industry that connects core systems — GL, Payroll and Capital Markets — into a single application so lenders can immediately see the future financial impact of business decisions across the lending operation.
Read the full article here.