Spreadsheets have long been the backbone of accounting in credit unions. Flexible, familiar, and low cost, they have allowed finance teams to manage accounts, reconcile data, and produce reports without relying on complex IT systems.
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Independent mortgage banks operate in a complex and highly regulated environment. Outsourcing accounting functions can offer significant advantages, including cost savings, expertise, and operational efficiency while minimizing the effects of staff turnover.
As we all know, GNMA has introduced a new risk-based capital requirement for mortgage lenders, which is set to take effect on December 31, 2024. This regulation is designed to ensure that issuers have sufficient capital to withstand financial stress and market environments.
It is no secret that the mortgage industry is currently in a state of flux. Gone are the historically low rates which produced huge profits for mortgage companies big and small, replaced with rates now resembling pre-Covid.
While advancements in mortgage technology have certainly improved the borrower’s experience, the most critical time for IMB’s is the time of warehouse funding.
Artificial Intelligence (AI) is ushering in a new era of technological advancements and its capabilities are transforming the mortgage industry...
I’ve been on a mission to help people be more data driven for nearly 30 years. It has been both extremely rewarding and extremely frustrating at times.
Gain unparalleled efficiency, compliance, and insights with Loan Vision. Begin your journey with us today.
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