NMP - December 2016 - 82


diy technology: it's more about value than cost

else you may risk a violation or a
certain requirement not being
met.
Creating greater value
When I tell people that our
company built its own
technology, they are often
amazed. Many think it's
impossible unless you're a major
bank. However, I truly feel it's
easier than ever for lenders to
build their own systems-and
it's getting easier.
For example, today's thirdparty technology vendors are
starting to offer their products in
a very modular format. Pricing
engines, for example, are
available that can run behind the
scenes of a lender's core system
without the borrower ever

DECEMBER 2016 n National Mortgage Professional Magazine n

NationalMortgageProfessional.com

82

knowing the lender is using it.
Improving data standards and
data exchanges are also making
it much more efficient to
exchange data between pricing
engines, document preparation
providers and investors. This
makes it possible for a lender to
have a homegrown core system
that connects and uses different
modules, so they can have the
best of the best -best pricing
engine, the best compliance
check software, the best doc
prep provider and more.
From where I sit, a homebuilt
system makes everyone in the
company better, including the
loan officer. It forces everyone
to understand the rules and
requirements necessary to build
good loans. When you buy a

continued from page 81

"Adapting to regulatory changes in 2017
and beyond, in addition to meeting the
requirements of one's own investors, can
be arduous for the DIY lender."

LOS, you're essentially buying a
black box, and the loan officer
rarely knows or understands
what's inside of it. A LOS vendor
may say, "Don't worry, it will do
what you need it to-as long as
you enter everything correctly."
But it's a real problem if you
don't understand how it works,
especially when something goes
wrong. If you build it, you will
have a much better
understanding of what you are
working with as well as the
process itself.
Every lender that uses
technology does so to increase
business and drive the bottom
line. While it is possible to build
a system that is less costly than
a third-party solution, I don't
believe cost is the most

important factor. The ultimate
prize is value, and building your
own system can bring much
more value than buying one.
You will need a strong IT
infrastructure, to be sure and
that costs money. You'll need
good people, and they cost
money, too. Any lender can buy
a system and maintain a smaller,
less expensive IT staff, if cost is
what they are concerned about.
But a lender that builds its own
system can build a system the
right way. And the value they
create-by developing the best
possible mortgage process, by
ensuring high quality and
compliant loans, and by creating
a more satisfying experience for
the borrower-is what we really
should be after.

Carlos Sa is the head of information technology for
Danvers, Mass.-based Mortgage Network Inc., one of the
largest independent mortgage lenders in the eastern
United States. He can be reached by e-mail at
CSa@MortgageNetwork.com.


http://www.NationalMortgageProfessional.com http://www.findmortgagejobs.com/

Table of Contents for the Digital Edition of NMP - December 2016

Contents
NMP - December 2016 - Cover1
NMP - December 2016 - Cover2
NMP - December 2016 - 1
NMP - December 2016 - Contents
NMP - December 2016 - 3
NMP - December 2016 - 4
NMP - December 2016 - 5
NMP - December 2016 - 6
NMP - December 2016 - 7
NMP - December 2016 - 8
NMP - December 2016 - 9
NMP - December 2016 - 10
NMP - December 2016 - 11
NMP - December 2016 - 12
NMP - December 2016 - 13
NMP - December 2016 - 14
NMP - December 2016 - 15
NMP - December 2016 - 16
NMP - December 2016 - 17
NMP - December 2016 - 18
NMP - December 2016 - 19
NMP - December 2016 - 20
NMP - December 2016 - 21
NMP - December 2016 - 22
NMP - December 2016 - 23
NMP - December 2016 - 24
NMP - December 2016 - 25
NMP - December 2016 - 26
NMP - December 2016 - 27
NMP - December 2016 - 28
NMP - December 2016 - 29
NMP - December 2016 - 30
NMP - December 2016 - 31
NMP - December 2016 - 32
NMP - December 2016 - 33
NMP - December 2016 - 34
NMP - December 2016 - 35
NMP - December 2016 - 36
NMP - December 2016 - 37
NMP - December 2016 - 38
NMP - December 2016 - 39
NMP - December 2016 - 40
NMP - December 2016 - 41
NMP - December 2016 - 42
NMP - December 2016 - 43
NMP - December 2016 - 44
NMP - December 2016 - 45
NMP - December 2016 - 46
NMP - December 2016 - 47
NMP - December 2016 - 48
NMP - December 2016 - 49
NMP - December 2016 - 50
NMP - December 2016 - 51
NMP - December 2016 - 52
NMP - December 2016 - 53
NMP - December 2016 - 54
NMP - December 2016 - 55
NMP - December 2016 - 56
NMP - December 2016 - 57
NMP - December 2016 - 58
NMP - December 2016 - 59
NMP - December 2016 - 60
NMP - December 2016 - 61
NMP - December 2016 - 62
NMP - December 2016 - 63
NMP - December 2016 - 64
NMP - December 2016 - 65
NMP - December 2016 - 66
NMP - December 2016 - 67
NMP - December 2016 - 68
NMP - December 2016 - 69
NMP - December 2016 - 70
NMP - December 2016 - 71
NMP - December 2016 - 72
NMP - December 2016 - 73
NMP - December 2016 - 74
NMP - December 2016 - 75
NMP - December 2016 - 76
NMP - December 2016 - 77
NMP - December 2016 - 78
NMP - December 2016 - 79
NMP - December 2016 - 80
NMP - December 2016 - 81
NMP - December 2016 - 82
NMP - December 2016 - 83
NMP - December 2016 - 84
NMP - December 2016 - 85
NMP - December 2016 - 86
NMP - December 2016 - 87
NMP - December 2016 - 88
NMP - December 2016 - 89
NMP - December 2016 - 90
NMP - December 2016 - 91
NMP - December 2016 - 92
NMP - December 2016 - 93
NMP - December 2016 - 94
NMP - December 2016 - 95
NMP - December 2016 - 96
NMP - December 2016 - 97
NMP - December 2016 - 98
NMP - December 2016 - 99
NMP - December 2016 - 100
NMP - December 2016 - 101
NMP - December 2016 - 102
NMP - December 2016 - 103
NMP - December 2016 - 104
NMP - December 2016 - 105
NMP - December 2016 - 106
NMP - December 2016 - 107
NMP - December 2016 - 108
NMP - December 2016 - 109
NMP - December 2016 - 110
NMP - December 2016 - 111
NMP - December 2016 - 112
NMP - December 2016 - Cover3
NMP - December 2016 - Cover4
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201910
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201909
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201908
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201907
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201906
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201905
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201904
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201903
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201902
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201901
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201812
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201811
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201810
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201809
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201808
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201807
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201806
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201805
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201804
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201803
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201802
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201801
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201712
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201711
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201710
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201709
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201708
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201707
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201706
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201705
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201704
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201703
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201702
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201701
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201612
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201611
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201610
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201609
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201608
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201607
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201604
http://www.nxtbookMEDIA.com