Mortgage Bankers Association MBA Annual Conference 2016, held in Boston during Oct 23-26th, was a one-of-its-kind event that brought together mortgage lenders, insurance companies and investors on one platform to share insights on the contemporary global mortgage industry happenings.
As mortgage processing services begin to show unprecedented changes in the passing year, industry experts gather for an engaging discussion on the potential opportunities and risks for mortgage industry in the years to come.
Let’s look at the 5 most important takeaways from this event:
1) Fine tuning of Legal Compliances for Mortgage Processing
Loan origination and auditing requires a thorough understanding of the guidelines laid down by regulatory authorities. Mortgage Bankers Association Annual Conference 2016 saw many legislative experts sharing their views on the do’s and don’ts of mortgage processing services. The next major rule enforcement and preparing for future regulations were an important part of the 3-day discussion.
2) Role of Loan Offices
Technology has changed the way loans were being processed. This means, the mortgage evangelists need to up their tech skills in order to be fully accessible for their customers. Modern-day borrowers demand flexible consultation timings, quick redressal of queries and more. Loan officers need to be present across all digital platforms including mobile in order to have a better connect with their customers.
3) Decoding FinTech for Mortgage Processing
Technological innovations in the financial sector have significantly transformed the mortgage processing industry in 21st century. The MBA meet had experts from all over the globe to discuss on these emerging trends including, mobile transactions, e-wallet, money management tools, etc. and their impact on modern mortgage industry.
4) Understanding and Implementing Data Security
Contemporary consumers are very specific about how and where their assets go. This includes their personal data. The event discussed how security management is essential for mortgage lenders in order to improve their customer base and market position. With scalable and cost-effective cyber solutions, mortgage processing can be secured and quick at the same time.
5) Future Trends & Opportunities
Mortgage Bankers Association is a global congregation of leading entrepreneurs and knowledgeable specials. The event discussed in detail all the upcoming possibilities in mortgage processing services as well as the risks involved and how to tackle them. This included changing consumer demands, technical innovations, outsourcing needs, networking and such other areas of interests.
Mortgage processing services are one of the most discussed topics in the global market. This industry is in its greatest transitional phase to accommodate the changing needs of its modern consumers. The event was also attended by BPM expert Suma Soft Pvt. Ltd., a pioneer in providing mortgage processing services to leading industries for over 16 years. The company qualifies as one of the most trusted IT partners for loan origination, underwriting and closing processes. To know more about the comprehensive mortgage processing services offered by Suma Soft, please click here >>