Visionet BFSI

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Revitalize Mortgage Operations with Tech & Automation

Residential Mortgage lending has been a very volatile business. There are times when lenders need to deal with extremely high volumes. This puts immense pressure on existing teams. Besides, the...

Visionet is one such company that is known for offering domain expertise for agile, nimble, quick operations powered by technology to clients. In a sector like a mortgage where time is of the essence, Visionet offers quick onboarding procedures and immediate start of operations. With cost-effective technology-based solutions that provide maximum savings, Visionet helps faster loan processing along with multi-layered quality checks and audits to ensure quality results. The company works extensively with clients to create and implement uniform procedures across their departments for improvement in TAT.

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3 Ways in which AI/ML is Disrupting Mortgage Lending

In today’s evolving mortgage ecosystem, advanced technology is a must-have to successfully process huge volumes of loan applications. On average, the time taken to close loans is 47 days, according...

As the mortgage market becomes more tech-oriented, it is time that lenders move faster towards solid digital experiences to stand strong. To thrive in this evolving landscape, lenders must put customers at the core of their operations, and transform their lending process using AI and ML. But it is also very important to choose the right partner who can offer effective technology that helps enhance customer experience and ultimately move ahead of the competition.

Companies like Visionet adopt an all-encompassing technology-based approach that promises maximum profitability to clients, helping them metamorphose their operations while scaling effectively. To know more get in touch with us at https://bfsi.visionet.com/

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Tackle Origination Costs this 2021 - Leverage Tech

Mortgage origination is a labor-intensive as well as time-consuming process. On average, it takes anywhere between 35 to 40 days to close a loan. The need of the hour in...

Lenders can benefit a lot in tying up with the right kind of mortgage processing solutions partner. They can tackle the rising cost of origination and also close faster. Companies like Visionet offer a complete range of digitally enabled services that drive global digital transformation. The company provides implementation services for total client success. The scalable, high-ROI solutions continue to deliver superior performance for continued success.

Get in touch with us today - https://bfsi.visionet.com/blog/tackle-origination-costs-this-2021-leverage-tech/

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Exploring Cost-saving Opportunities for Mortgage Servicers

Mortgage servicing has faced some unique challenges over the years mainly because its processes are dictated by state statute as well as federal rules or standards. To scale up and...

Mortgage servicing has faced some unique challenges over the years mainly because its processes are dictated by state statute as well as federal rules or standards. To scale up and ensure compliance with all the stipulated rules and regulations, many servicers are choosing to adopt uniform procedures across all states. But several servicers lack complete clarity and the understanding of how it impacts the bottom line and timelines.

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Importance of Accurate & On-time Title Searches

This blog talks about the importance of accurate & on-time title searches in the secondary market ensuring the new business of lenders grows fast.

As we all know, the secondary market is where the home loans and servicing portfolios are bought and sold between lenders, banks, and investors. Lenders sell a large percentage of newly originated loans into the secondary market, where they are packaged into MBS’s (Mortgage-backed securities) and sold to investors like pension funds, insurance companies, and hedge funds, etc.

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Refinancing Volumes - Are Title Agents Ready to Manage Volume Fluctuations? - Visionet

Ellie Mae’s Origination Insight Report stated that the percentage of refinances accounted for 51 percent of closed loans in the month of October 2019, which is the highest percentage of...

Ellie Mae’s Origination Insight Report stated that the percentage of refinances accounted for 51 percent of closed loans in the month of October 2019, which is the highest percentage of refinances since March 2015. This trend confirms that homeowners are taking advantage of the lower interest rates to reduce their monthly payments on their mortgage.

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Title Agencies Continue to Focus on Driving Business Growth

Driving business growth is the key focus area across title agents. Read the post to know business trends and key focus areas across title agents.

Annual conferences such as ALTA One are usually great to network with Title agents across the industry and to get to know what matters to them. It is nice to understand business trends and key focus areas across title agencies. This year, some of my colleagues were at ALTA One and it was interesting and insightful to interact with title agents and understand their key focus areas.

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Importance of Transitions for Efficient Client Onboarding

Owning a home is a central piece of the American dream. It brings in several economic benefits, such as the possibility to accumulate wealth, access credit through home equity, reduce...

Owning a home is a central piece of the American dream. It brings in several economic benefits, such as the possibility to accumulate wealth, access credit through home equity, reduce housing costs through mortgage interest deduction, and gain long-term savings over the cost of renting.

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3 Ways for Title Agents to Better Manage Month End Volumes

Title agents face a lot of month-end volumes as the workload is very high. Here are 3 ways in which they can better manage these situations.

Title agents play a very important role in the mortgage process, that of helping the lender validate the ownership in the property and issuing title insurance.

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Minimize Business Disruption with eRecording as a Service

Mortgages – purchase or refinance – have a long to-do list of steps, and the oversight of any of them could jeopardize the process. But at a time when the...

Mortgages – purchase or refinance – have a long to-do list of steps, and the oversight of any of them could jeopardize the process. But at a time when the world faces an unprecedented situation with the COVID 19 pandemic, the mortgage chain has been affected in several ways creating several problems.

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Being There for Your Customers in the Time of Crisis

Most financial institutions, including mortgage lenders, have business continuity plans in place, but the unprecedented situation has created a vulnerability in fully addressing the unknown variables. Many mortgage lenders are...

Most financial institutions, including mortgage lenders, have business continuity plans in place, but the unprecedented situation has created a vulnerability in fully addressing the unknown variables.

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Digitization and Automation: Ways for Lenders to Increase Profitability

The first week of October came with some robust news for the mortgage sector. The average mortgage interest rate on both the 30-year and 15-year fixed mortgage slipped giving a...

The first week of October came with some robust news for the mortgage sector. The average mortgage interest rate on both the 30-year and 15-year fixed mortgage slipped giving a boost to the buying and refinance surge.

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Riding the Refinance Wave – Understanding the Millennial Mindset

Amidst the Covid-19 outbreak, while new home purchases are taking a hit, refinance requirements are going through the roof. In the recent past, mortgage companies have been experiencing stiff competition...

Amidst the Covid-19 outbreak, while new home purchases are taking a hit, refinance requirements are going through the roof. In the recent past, mortgage companies have been experiencing stiff competition from other mortgage companies. But a bigger challenge has been the rise of fintech companies that is significantly impacting mortgage lenders.

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Mortgage Process Outsourcing Company vs Mortgage ODC

We talk through some details about the benefits that Mortgage ODCs offer over working with Mortgage Process Outsourcing Company.

Mortgage lenders are required to work with several vendor partners considering that loan processing is highly labor-intensive and involves a lot of paperwork. While some companies consider working with mortgage process outsourcing company, the leading players nowadays prefer the Offshore Delivery Centre or the ODC model.

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Managing Rising Forbearance Requests in Wake of CARES Act

The effect of the COVID-19 pandemic is being felt far beyond the number of people who are infected. In the US, more than 22 million Americans have filed for unemployment...

The effect of the COVID-19 pandemic is being felt far beyond the number of people who are infected. In the US, more than 22 million Americans have filed for unemployment aid since President Trump declared a national emergency.

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Foreclosure Issues can Land Servicers with Hefty Penalties

Manage borrower touchpoints from intake request to completion and address high call volume requests with Visionet's technology solution.

In a recent release, MBA quoted ‘With unemployment rising to a record 14.7 percent in April, it is inevitable that mortgage delinquencies would increase as well. 33.5 million U.S. workers applied for unemployment benefits in the past seven weeks, and with signs of economic distress continuing into the second quarter, mortgage delinquencies will likely further increase.’

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The Rising Importance of Automation & Technology for Mortgage Lenders

Read on to know about the Rising Importance of Automation and Technology for Mortgage Lenders to provide better customer experience.

Mortgage rates have hit their lowest point in more than three years. This time though, they aren’t setting the stage for a highly competitive homebuying season. In fact, a massive shutdown of the economy has caused homeowners and potential homebuyers to back away from the mortgage market.