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New compliance laws place new emphasis on training

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Mortgage Professional America | 24 Sep 2015, 06:00 AM Agree 0
The new compliance laws being introduced to the industry are placing a greater emphasis on experience – but unfortunately those same regulations are pushing that expertise out of the mortgage space
  • 1Omega | | 24 Sep 2015, 02:04 PM Agree 0
    Face to Face client meetings are nothing more than "nice' in todays electronic age of doing business.
    Most of the big players in the Mortgage Industry have developed proprietary user friendly software to guide and coach a
    prospective borrower thur the maze of a mortgage application. it is kind of difficult to mess up if you follow the prompts.

    In addition executive decisions and policies at the big players stipulate a Loan officer dedicate the time that would be directed for face to face client visits, sometimes with travel a 4 hour process, at which all the information must be on line anyway.(.no more paper mortgage applications, verification authorizations, and so forth,) be used to originate New Purchase business.

    Further with electronic applications like skype, and others you can be face to face, but without the need to invest 2-4 hours of dead time in travel.
    And finally, if the Loan Officer is originating only 3 applications a day...there just isn't any time to visit clients face to face and get the applications in processing the same day.

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