Ask Dave: Getting ahead with origination modernization
Dave Steinmetz Division President of Origination Services ServiceLink
One of the most interesting parts of my job is meeting with clients and getting first-hand knowledge of where the industry is and what they’re focused on in the name of creating tomorrow’s digital and transparent borrower experience, no matter the economic climate. And we have most definitely been riding a remarkable time in the real estate industry in recent years, one that compels us toward embracing change. At the moment, the industry is shifting into a place of process optimization and modernization: how can lenders deliver a better experience, more consistently and more efficiently? Reliance on a number of separate third-party providers brings a new set of risks, especially when less experienced providers are having a difficult time surviving because they simply don’t have the diversification in products and the strength and stability to outlast what is upon the market.
But, where there’s slow-down, there’s opportunity for innovation and readying for the other side of the market. The multiple vendor strategy has always required all vendors to toe the line, plugging into middleware to ensure that all information is available for consumption. But, how does that move us toward predictable and repeatable delivery of experiences, and, ultimately impact recapture?
In the end, it’s about the borrower and ability to deliver the experience they tell us they need. ServiceLink recognizes that 72% of borrowers cite convenience and ease of use as an important factor in the mortgage process, and we have designed our suite of technology products to deliver on that demand. Working with an industry-leader like ServiceLink allows lenders to take advantage of consumer digital experiences that cannot run with multiple vendors. That, paired with having the longevity and backing of Fidelity National Financial, the largest title insurance company in the country, ensures that we can always deliver on our mission to enable our lenders to compete differently in a down market.
