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Brian Hall

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Mortgage Hedging – When Should I Hedge?

Posted by Brian Hall on Feb 22, 2017 12:25:53 PM

A growing question in the mortgage industry is: “when should I think about mortgage hedging?” After all, for those with the capability to hedge, doing so should be a no-brainer. Properly hedging your pipeline mitigates risk and allows for the execution of trades on hedge products that allow you to make more money. And at the end of the day, who doesn’t want that?

 

Often when considering mortgage hedging, though, you have to think about the barrier to entry, and if you’re ready to jump in or not. While there isn’t an exact number that you can point to as the right amount of money you should be seeing each month before hedging, there’s a pretty defined range that you can see if you fall into. Typically, lenders want to be on the higher side of between $12-15 million dollars in monthly hedgeable loans before considering mortgage hedging. And while being closer to $12 million can work, it’s typically best to wait until you’re at least trending toward the higher end of that range before diving in.

 

 

But then, once you’ve evaluated how much money you’re seeing monthly in hedgeable loans, and you’ve decided that mortgage hedging is something you want to get into, what’s the next step? That’s where Mortech comes in.

 

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Secondary Marketing Tools, Third Party Originators and LOS Integrations – Speed and Tools in a Vital Time

Posted by Brian Hall on Feb 16, 2017 1:55:27 PM

Gone are the days of, “I’ll get that to you tomorrow”. Ever since the internet began powering our everyday lives, the world has become that of instant gratification, for better or worse. Everything from the news we get, to the way we communicate happens instantly, and waiting too long can drive those you’re communicating with crazy. These same ideas have spread into how businesses, and even entire industries, operate. As communicating and working together becomes faster and more simplified, utilizing these tools keep your business ahead of the curve.

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The Relationship Between Mortgage Rates and Online Quoting

Posted by Brian Hall on Feb 8, 2017 3:13:44 PM

In the last six months, mortgage rates have taken a sharp turn from the direction they were headed for much of the last two years. After a steady decline, rates shot back up at the beginning of November in 2016, and despite dropping some, they still remain substantially higher than they were at any point in the last two years.

 

However, as rates have gone up, so has online quoting by lenders.

 

 

Over the six-month span, as rates began to climb, online quoting and advertising by lenders followed suit. As interest rates rise, and refinances dwindle, online quoting is a great way for lenders to get their brand in front of thousands of potential borrowers on a daily basis. By quoting online to marketplaces like Zillow, Bankrate®, and LendingTree®, you can find more long-term borrower contacts, and reach them with the most accurate depiction of a product you can offer.

 

If the last six months are any indication, rates may not be dropping again any time soon. Are you staying competitive, and getting your rates in front of potential long-term borrowers? Are you providing them with the most accurate and updated rates, and reaching out to them as soon as possible? Mortech has the tools you need to do that and more. Together with Mortech, you can keep filling your pipeline with leads, and also be equipped with the tools you need to distribute and nurture those prospects.

 

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What's Happened to Mortgages Since the Housing Crisis?

Posted by Brian Hall on Jan 24, 2017 2:55:01 PM

Mortgages have come a long way since 2007. After the housing bubble burst, many wondered if the market would ever recover, and if it did, how long it would take? Now, a little over six years have passed since the U.S. Treasury announced it would be providing unlimited support to Fannie and Freddie, despite the huge losses at the time. We can now look back at what the market’s recovery has looked like.

 

The correlation of data is pretty straightforward – as rates began to decrease in 2010, the average loan amount for the year trended upward, and after 2012 when rates went on a two-year climb, average loan amounts responded by dropping. It’s interesting to note that other than the drastic change in 2012, which led to a responsively less ideal next two years, the data was pretty consistent in trending one direction. Even when rates had risen for the second straight year in 2014, they were still lower than 2011 or 2010, and when they began to drop again in 2015 and 2016, average loan amounts shot up to the highest they were in the entire period.

 

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Four Ways You Can Get 2017 Started on the Right Foot

Posted by Brian Hall on Jan 12, 2017 12:55:55 PM

Did you make any New Year’s resolutions? You shouldn’t just set goals for your personal life though; lenders should also set business goals for themselves, and set out to provide better service to their customers, get bigger returns, and improve overall performance. Fortunately, with Mortech at your side, these goals you set can be a lot more achievable than something like going to the gym every day.

 

With that in mind, here are four things you can do right now to start improving your business throughout the coming year, all with Mortech’s help along the way.

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2016: The Year in Mortgages

Posted by Brian Hall on Dec 30, 2016 10:32:56 AM

The past year has been a busy one for the mortgage world. With 2016 in its final few days, we wanted to compare this year to 2015, and look at any changes year-to-year – something we did with 2015’s statistics this time a year ago.

 

 

Across the board, mortgage data took mostly positive turns over the past year. Average mortgage rates saw a decline – to be expected with the Fed’s choice not to raise rates – but the average LTV for the year also shrank compared to the year prior. Both of these are in spite of slightly lower average FICO scores, however that difference from a year ago is the most minimal of the three. Moving forward, average rates will likely discontinue their two-year decline, as the Fed has already announced that Fed Funds Rate increases will happen more than once in 2017.

 

As for months with the most lock activity, January went from first to worst in the twelve-month span, going from the month with the most locks in 2015 to the least in 2016. Meanwhile, August took over the top spot for most locks this year, which would make sense considering that rates were hitting their lowest point before starting to climb again in October and November.

 

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Meet Mortech: Zac Rabe

Posted by Brian Hall on Dec 22, 2016 1:03:28 PM

This week we're showcasing new Sales Executive, Mortgage Investor Relations, Zac Rabe. Zac lives in Lincoln with his wife Kali and their dog Rex.

 

Favorite things to do on his days off: I enjoy golfing, watching sports, working out, hanging out with friends and family, and being with my wife and dog.

 

Favorite place to travel: Phoenix or Denver.

 

Favorite time of the year: Fall because it’s football season.

 

What made him want to work at Mortech: I was approached by a current employee/long time friend regarding an open position here and the more I learned about the culture and how much the people enjoyed working here, the more I wanted to be a part of it.

 

One interesting fact about him: I have met Michael Jordan.

 

Last time we showcased Associate Account Manager Mike Russell, which you can read here. Or to learn more about Marksman, you can click here.

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Meet Mortech: Mike Russell

Posted by Brian Hall on Dec 16, 2016 2:00:13 PM

This week we're showcasing new Associate Account Manager, Mike Russell. Mike lives in Lincoln with his wife Samantha.

 

Favorite things to do on his days off: I enjoy listening to music, seeing family and friends, and spending time with my wife and our three dogs.

 

Favorite place to travel: I enjoy travelling to my hometown to spend time on the ranch.

 

Favorite time of the year: Fall because of Husker football!

 

What made him want to work at Mortech: I enjoy the atmosphere and the people I work with every day.

 

One interesting fact about him: I went to a one-room schoolhouse as an elementary student, consisting of only two other people in my class.

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Mortech's Year in Review

Posted by Brian Hall on Dec 9, 2016 12:25:31 PM

2016 has been a busy year for the mortgage industry. Rates stayed relatively low, and we saw a number of tech innovations take center stage, such as the rise of API usage. In an effort to provide the best mortgage tools and service for our users, Mortech also had a busy 2016, and equally, we received some pretty cool accolades along the way.

 



 

Throughout the year, we worked to provide the best possible experience to our users, often in the form of integrations with other companies who, like-minded to us, wanted to provide top-tier mortgage services and tools:

 

  • We integrated with Daric’s point-of-sale and mortgage application and automation software, which provides a better online application experience for borrowers, and saves lenders time while increasing conversion rates.
  • We combined the audience of Quinstreet with the power and ease of Marksman, by enabling mortgage lenders to utilize interactive auto-quoting and real-time mortgage rates on Quinstreet’s mortgage advertising network.
  • We also integrated BytePro’s Loan Origination System with Mortech’s powerful loan pricing and eligible automation, allowing for better accessibility and more productive workflows for lenders.

 

Because of these, and other things, Mortech was also recognized for these innovations along the way. HousingWire included Mortech on the 2016 TECH100 list of innovative technology firms, the third consecutive year we’ve been a recipient. Our company was also named one of Lincoln’s “Best Places to Work” for the third consecutive year as well. That might be a reason for adding seven new employees to our ranks this year, who all share our mission to provide the best services and tools possible for our users.

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Streamline Your Front End Application Process with Mortech and Daric

Posted by Brian Hall on Nov 10, 2016 1:28:31 PM

In today’s mortgage space, streamlining your day-to-day processes to save time and resources is key to maximizing your business’s potential. Our integration with Daric’s point-of-sale and mortgage application automation system is one such way in which you can key in on this priority. By utilizing our integration, you can give your borrowers the power to complete the borrowing process on their own, through their computer or mobile device, while equipping yourself with a suite of tools that automate different aspects of the application process.

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