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Brian Hall

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Mortech APIs: The New Standard

Posted by Brian Hall on Mar 23, 2017 12:56:49 PM

The toughest part about bringing information together from several different sources is compiling it all into a single, cohesive body that ties together. Imagine you have 100 different sources, all speaking in different languages and accents, with different mannerisms and phrases. When you’re putting this all together, you need to make it one language and style, so as not to confuse those reading it. You’d probably have one standardized language and writing style that you’d transpose everything to, and using that, you could put your source material together. This is exactly what Mortech APIs do with leads every day.

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Application Automation: The Speed You Need

Posted by Brian Hall on Mar 13, 2017 1:59:11 PM

Often times, lenders focus on how they’ll sell a prospect on a loan when they have a conversation with them. It’s the simple idea of having a sales pitch ready when a potential borrower walks through the door. But what many lenders might not realize is the number of borrowers they could be losing before they’ve even had a chance to talk with them at all. When submitting a mortgage application, the experience a borrower goes through is the first thing that determines if they’re going to stick through the entire online application process, and having a slow, time-consuming, 1003 applications can cause a lot of borrowers to stop the mortgage process when they’ve only just started.

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Third Party Origination – Staying on the Same Page

Posted by Brian Hall on Mar 6, 2017 12:58:44 PM

One of the biggest challenges for third party originators can be keeping all of your lenders on the same page. The more lenders you have, the harder it can be to keep everyone updated on rate sheets, pricing, and your different borrowers and who is assigned to whom. Keeping these things in check is key for third party originators, though, as doing so keeps your business running smoothly and efficiently.

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A Single, Trusted Source for Mortgage Rate Auto Quoting

Posted by Brian Hall on Mar 3, 2017 12:15:36 PM

We often talk about the importance of putting your rates online. Doing so gives your business exposure to thousands of online borrowers, on a platform that is still growing and completely changing the way the entire mortgage industry operates. Our online auto quoting tools are one such way that you can gain that increased exposure for your business. Mortech is the trusted source to provide mortgage rates to sites like Zillow, Lending Tree, QuinStreet, and Smart Asset, processing millions of transactions daily across those marketplaces. And as more transactions happen and more online borrowers are exposed to your business, people start to take notice.

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Mortech Listed to HousingWire TECH100™ for Fourth Consecutive Year

Posted by Brian Hall on Mar 1, 2017 2:41:50 PM

Mortech has been named to HousingWire’s HW TECH100™ list of the housing economy’s most innovative companies for 2017, as announced by HousingWire earlier today.

 

This distinction is Mortech’s fourth-consecutive year of being recognized for its innovation in mortgage technology solutions, which have streamlined mortgage pricing, secondary desk, online rate quoting, and lead management operations for mortgage lenders across the country. The TECH100™ was created to recognize mortgage technology companies who are transforming an industry that sees more growth in, and reliance on, technology each year.

 

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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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