US mortgage lenders need a mixed set of tactics to address the near-term focus on refinances and the longer-term return of a purchase market.
Because of the new US Home Valuation Code of Conduct (effective May 1, 2009), mortgage lenders have to rethink their selection of appraisers and their management of the entire appraisal process.
Lenders can improve mortgage originations by focusing on portfolio retention, applying new decisioning technology to the point of sale, and judiciously adding electronic signature capabilities.
Lenders can improve their mortgage fulfillment systems and reduce credit risk in the short term by introducing third-party technology, such as electronic content management and business rules engines and integrating to new external data sources.
Lenders can improve their mortgage servicing systems by enhancing self-service Web sites, refining their collection tactics, and incorporating predictive analytics to make better use of the extensive data available to them.
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