Armonk, N.Y.-based IBM has expanded its end-to-end loan fulfillment services to include new components and technology. The expanded offerings intend to help lenders make better use of outsourcing services such as loan origination and loan fulfillment.
A recent IBM-conducted survey that sampled senior mortgage executives at a range of lending businesses found that 36 percent of lenders plan to increase use of outsourcing services for mortgage origination over the next 18 months. According to the survey, these senior lending executives believe a large proportion of mortgage origination tasks have the potential to be outsourced.
IBM's new and expanded services for lenders will be initially available in the U.S. They include: New outsourced Federal Housing Administration (FHA) loan fulfillment capabilities; new component business process services; and new levels of flexibility in lending technology.
IBM is currently working with lenders to restructure their business models in order to capture market share and strengthen competitiveness. IBM's lender clients can derive benefits and advantages in the marketplace through improved mortgage loan quality, risk management and compliance via automation. Other benefits include improved borrower experience by increasing consumer visibility and control and improved speed to market and faster cycle times for new products, channels, geographies. Clients can access leading edge lending technology and services without steep upfront capital investments and recognize 20 percent to 40 percent lower cost by shifting to a more variable cost structure.
Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio