DS News

DS News March 2020

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

Issue link: http://digital.dsnews.com/i/1214226

Contents of this Issue

Navigation

Page 81 of 99

80 How many articles have you seen over the past year about the benefits of digital mortgages? At the time of this writing, Google News turned up 130 stories about digital mortgages in a single month. ose are just stories captured by Google—there are certainly countless more, not to mention a plethora of white papers, webinars, and eBooks all focused on the topic. Who has time to digest them all? ere are many ways to go about adopting a digital mortgage strategy, and certainly reading up on the subject is a good place to start. But to be successful, there is no more important piece to the digital mortgage puzzle than having an experienced and trusted fintech partner at your side—a partner with the right blend of technology, resources, experience, and skills to fit your company's needs and goals, and one that will take all those stories and synthesize them so they make sense to you. WHAT MAKES A GOOD PARTNER? A solid fintech partner is one that understands the intricacies of the digital mortgage process from all angles, from origination to pre-closing, closing, and post- closing. ey also understand not only the technologies and services you need to achieve your goals, but also the needs and goals of your business partners and other relationships, so everybody is working under the same plan. e right partner will work with you to determine which digital processes are right for your company. For example, do they have experience in the areas of your business, whether that is conforming and nonconforming loans, or both? Will they develop a relationship with you and create a timeline for adopting a digital strategy? During the relationship, will they act as your advocate throughout the entire project, not just through the implementation stage but during the production stage and beyond? Perhaps the most important question to ask a prospective partner is how much practical, digital experience they have. Do they have experts on staff who have developed and implemented fintech solutions for companies like yours? Do they understand digital processes and their impacts from the perspective of all life-of-loan participants? And will they educate and train your team and your partners on an ongoing basis? THE MOST IMPORTANT ITEM IN YOUR DIGITAL TOOLKIT When it comes to implementing fintech solutions, choosing the right partners can be critical. Quick Take By: Katie Paolangeli

Articles in this issue

Archives of this issue

view archives of DS News - DS News March 2020