Brokerages and financial institutions that play a role in the mortgage origination process always strive to increase efficiency. That involves enabling underwriters and loan officers to improve processes by giving them access to loan origination key performance indicators (or KPIs, in short). That said, mortgage lending KPIs are a bit different than other mortgage business trackers. Let’s look at what they are, how to calculate them, and how they can unlock growth in your business.
As a mortgage lender, you're likely aware that digitally transforming your lending processes offers several significant benefits. From reducing risk and operating costs to boosting scalability and profit margins and enabling you to deliver leading borrower experiences that breed 'customers for life.' Digitalization is a lever for the positive business outcomes that will allow you to compete profitably in a fast-changing world.
Loan processing automation is quickly changing the industry landscape. If you want to bolster your company's KPIs and become more efficient with your resources, software, automation and artificial intelligence can take a huge burden off your shoulders.
The 2022 National Conference for Canada’s Credit Unions (CCUA) event was a must-attend for anyone operating in the credit union space. Our industry is rapidly changing and we must all be prepared to educate ourselves on the state of the market, technology, and industry best practices.
The Office of the Superintendent of Financial Institutions (OFSI) released its first Annual Risk Outlook report recently, and there are a number of significant implications for Canadian lenders to consider. According to Peter Routledge, OFSI’s Superintendent: