Mortgage lenders across the industry are reporting high levels of stress as they struggle to maintain loan volumes in an increasingly challenging environment. Volume is down, refinances are dwindling in the face of steadily increasing interest rates and more lenders are competing for a smaller group of purchase money home loan borrowers.
Enterprises large and small need to use all means at their disposal to gain a strategic advantage for their business. To remain competitive, these organizations must make use of contemporary machine learning tools to unlock value and meaning from the wealth of data they have about their customers, products, employees, work processes, and even competitors.
Visionet Systems Inc., a global services provider to a number of industries including the US mortgage industry, announced today that its mobile based origination solution, LoanVelocity, is now integrated with LendingQB’s web-based Loan Origination System (LOS). This enables the lenders using the LendingQB LOS to actively engage borrowers on their mobile devices.
Is your organization prepared for mandatory delivery of the Uniform Closing Dataset (UCD) to the GSEs starting in Q3 2017? What about those situations where all you have is a paper or image Closing Disclosure (CD)? Your Loan Origination System (LOS) cannot produce a compliant UCD XML if:
Public awareness of the term “artificial intelligence” is at an all-time high, but beyond vague (and at times frightening) connections with robots and computers, many people aren’t as familiar with what AI actually is, or what it might possibly become.
Retail is undergoing a radical change: increased mobile usage and the convergence of eCommerce and in-store retail have dramatically altered consumer behavior.
VISIONET SYSTEMS
Here is a common scenario for large retailers that operate dozens or hundreds of stores across large geographic regions. They pour millions of dollars into safety stock, ostensibly to prevent out-of-stocks, but at the end of the day, it looks like all this extra stock is there just for the sake of maintaining perfect fill rates. Some businesses order excess stock because their vendor minimums are too high. Other businesses accidentally treat seasonal items like year-round products, maybe because of regional differences in buying patterns.
Visionet Systems, Inc., a leading provider of technology and technology-led BPO solutions to the real estate and mortgage industry, announced today that their CD-to-UCD conversion solution is now in full production. Visionet’s solution is the industry’s first complete end to end solution designed to ensure compliance with the Fannie Mae (FNMA) and Freddie Mac (FHLMC) Uniform Closing Dataset (UCD) initiative.
Visionet Systems, a leading provider of technology solutions and Business Process Outsourcing services for the mortgage industry, has completed file validation to enable submission of electronic loan data to Fannie Mae’s UCD collection solution. Through comprehensive testing, Fannie Mae has confirmed that Visionet’s CD2UCD solution was developed in accordance with their requirements for the Uniform Closing Dataset.