We recently hosted a group of attorneys, title agents, and title insurance representatives for a Breakfast & Discussion event. Ryan Hayes, SVP of Mortgage Operations at Salem Five, led the discussion, focusing on new technology in the mortgage industry and the opportunities it provides for title agents and lenders to better collaborate.
Hayes began outlining a major area of focus for Salem Five. In recent years, the increased burden of risk on banks has led to longer turn times and higher costs at every step of the mortgage process. So how can lenders reverse this negative trend? A big part of the answer is technology.
“At Salem Five, we are trying to maximize operational efficiency by utilizing technology to help relieve these issues and shorten the loan life cycle. Any efficiency you can pick up along the loan life cycle will pay dividends in increased service levels and capacity,” Hayes said.
For example, they have already enacted software that allows them to manage the appraisal process with more efficiency. And with Qualia’s upcoming Encompass integration and lender portal, Salem Five sees Qualia as an integral solution for reducing turn times and increasing service levels and capacity.
“Qualia’s lender integration takes a manual and potentially time-consuming process and allows for both a collaborative and efficient solution for title agents and their lenders,” Hayes noted.
Nate Baker, CEO of Qualia, wrapped up the event.
“Qualia’s title settlement software is built to seamlessly connect title agents with all parties in the transaction. Our lender portal is an incredibly important feature for our title agents and their lender partners. We are excited to unveil it in January 2017.”
Note: If you are interested in seeing a live demo of our Encompass integration, you can sign up here.