Chief Strategy Officer
Stavvy
Mortgage profitability margins are getting tighter. With loan origination costs up 35% in the past three years, according to Freddie Mac, mortgage originators are facing a profitability crisis, driven in large part by inefficiency in their processes and an inability to scale for ever-fluctuating mortgage loan origination volumes.
But not every lender is in crisis mode. What makes the difference between top performing mortgage originators and low performing originators is the cost to originate a mortgage.
The average origination cost is $16,500 for the bottom 25% of performers, while top performers can drive average origination costs down to only $6,900.
Angel Hernandez, Chief Strategy Officer, Stavvy shares how these lenders originate mortgages for less than half of their competitors. You'll learn:
- What drives up mortgage origination costs—and what to do about it.
- How digitization delivers a seamless, compliant and efficient origination experience.
- How V3 SMART Docs® reduces operational costs and automates compliance and verification.
Click on the player to listen to "How Mortgage Digitization Safeguards Profitability" and learn how your organization can reduce costs and regain profitability.