Mortgage Software Solutions Blog

You may know a bit about TRID and what it means for the mortgage industry, but how much do you really know? We've found a few things that everyone should know about it. Let's start with a few basics for better understanding TRID.

The success of a mortgage lender directly correlates to the success of their marketing strategy. Every mortgage officer knows how to secure and close a loan, but effective marketing keeps new clients coming in. While many traditional methods still work, consider adding other marketing methods to your repertoire to help secure new leads and further the success of your mortgage business.

As a mortgage lender, you are always looking for new ways to increase productivity, generate new leads, and improve the efficiency and success of your business. Fortunately, with the right tools and the right mindset, you and your team of loan officers can make great strides towards those goals in 2017.

The mortgage industry has become increasingly vulnerable to outsiders accessing consumer protected information. A data breach can result in costs to the business for recovering information and adopting higher security protocols. It may also result in lost customer relationships and damage to the business’s reputation.

Where is the safest place to store a valuable item: in a locked box in your home, or in a safe deposit box at a bank? It should be obvious that something of value will be better protected at a bank, even though it's out of your immediate possession. Banks have better security procedures, trained staff, and less penetrable physical structures.

Data warehousing is an out-of-date concept for many people, commonly associated with SQL, batch reporting, and long wait times in order to get any of the data. But today’s data warehouses are vastly different, and as a mortgage company, you have to look at the evolution of data warehousing and realize that old-school reporting and data storage may be driving you towards noncompliance.

Every October since 2004, the United States has observed National Cybersecurity Awareness Month. Computer security is always important, but the month when spooks, zombies, and demons are on display is a fitting time for the mortgage business to give it focused attention.

The theft of a computer can be bad news for your mortgage business. It's not just the cost of replacing it; insurance should cover that. It's the prospect of letting confidential information into the hands of thieves. Confidentiality is vital to the mortgage business. Even computers sitting on desktops can be stolen.

With all the changes going on in the world of technology today, it's apparent to us that mortgage companies need more (and better) data to drive their business and security decisions. With MortgageWorkSpace® now featuring Business Intelligence, mortgage companies can easily obtain, organize, and act on that information from the cloud-based platform they know and love.