Stewart In The Studio

E13: Delivering Solutions for Every Stage of the Full Mortgage Life Cycle

Hey. Welcome, everyone. I’m Marvin Stone, SVP of Strategic Initiatives here at Steward Lender Services. And in this episode of Steward in the Studio, we’re going to be talking about Freddie Mac’s twenty twenty four cost to originate study, and it shows that the average origination cost has increased thirty five percent in just the past three years. If you’re a mortgage professional listening, I get it. You already know that fighting increased cost and inefficiency is pretty much your everyday reality.

But there is hope amidst their four key findings.

First, while average origination costs have increased by about three thousand dollars per loan in the last three years, we can learn from the top cost effective companies who originate loans at nearly one half the cost of the industry average and a shocking two point four times less than the bottom twenty five percent.

Basically, there is a lot of room for improvement and a lot that lenders can implement right now to reduce costs.

Second, we know that mortgage decision makers believe that a fully digitized mortgage can save up to a whopping forty percent in costs. So in the next few minutes, you’ll see how Stewart can bring you greater efficiency and savings through digitization and smart product selection across the full mortgage life cycle. As a reminder, if you’d like to learn more about the solutions discussed in this episode, please fill out the contact us form or email solutions@stewart.com. Okay.

Well, Stewart has been performing real estate closings and title services for about a hundred and thirty years now. Today, Stewart is uniquely positioned to help lenders succeed across the entire mortgage life cycle from lead generation and qualification all the way to servicing. But in this episode, we’ll specifically take a look at opportunities for efficiency and savings across the core transaction milestones, application, processing and underwriting, ending in approval, closing, and funding. Let’s start with one of the most recent hot topics, credit and verifications.

One of the biggest cost drivers lately is the sharp increases in credit costs we’ve seen over the past couple of years.

Stewart’s Informative Research has cutting edge integrations for nearly every point of sale and loan origination system out there. Recent enhancements give lenders maximum control over how and when credit and verification services are ordered. Their services include the full range of credit reporting options, and their verification services bundle seamlessly integrates the verification of assets, income, and employment. By bundling credit reports with verification services, like assets, income, and employment, lenders streamline the process, increase profitability, and cut costs.

They save money by setting the timing of the data billing event, usually at loan closing, while still getting the info they need quickly and accurately.

In the end, it’s about making the process smoother and passing savings along to everyone involved. We’ve reimagined the title process by offering instant title options, closing disclosure automation, and enhanced curative services across our centralized title solutions. And our unique Enterchange program allows lenders to provide a much more secure and consumer friendly guided experience through the closing process for their borrowers without any integration needed on the part of the lender. Stewart’s Allegiant Reverse Services is the leading title provider for home equity conversion mortgages. At Stewart, we’re often known for the hundreds of local offices we have around the country, but lenders also turn to Stewart for our national centralized title and settlement solutions for purchase, refinance, and even reverse mortgage transactions.

As a leading appraisal management company or AMC, Stewart Valuation Intelligence offers the broadest range of valuation and appraisal solutions, including traditional hybrid and desktop appraisals, along with BPOs, evaluations, and AVM based evaluation solutions.

Modernization efforts from both GSEs seek to better use data and technology as part of the appraisal process, and SVI is a verified and approved provider of GSE property data reports and the technology needed to supply them. In addition, we have title and settlement solutions for investors of every size across all fifty states. Our teams at Stewart Investor Solutions and BCHH Title handle some of the largest and most complex transactions often spanning dozens of states and millions of dollars. As you scale your own operation, know that you can scale with Stewart as we help you handle anything from Main Street to Wall Street. In today’s competitive lending environment, providing a great borrower experience is crucial, and that’s why Stewart takes signing seriously. Stewart’s notary cam and signature closers have come together to offer remote choice so your customers can sign in person or online totally at their convenience.

NotaryChem also now offers a complete done for you e note framework for lenders wanting to obtain savings from implementing e notes without the complexity and costly integrations across multiple technology partners, moving to eNotes is a great path to reducing dwell time on warehouse lines, which can lower cost significantly.

With fraud making headlines nearly every day now, it’s critical that your partners take security seriously.

Stewart partners with industry leading certified to offer the greatest production possible for all involved. It’s clear that the cost of manufacturing a mortgage continues to rise. You can put Stewart’s credit verification, title, escrow, valuation, appraisal, signing, funding, integration, and done for you eNote solutions to work to enhance your operation with one partner and one agreement.