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Titan Lenders Corp. has been founded on the principle that mortgage lenders should
aggressively focus on their front-end profit generator – origination, rather than attempt Our outsource fulfillment and mortgage consulting services include: We won’t sacrifice Quality for Volume - EVER. Contact us to learn more |
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Domestic Outsourcing for the Mortgage Industry
Correspondent Lenders |
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About Correspondent Lending Correspondent Lenders, also known as traditional mortgage bankers, are major players producing origination volume in the market today. They represent the entrepreneurial spirit of lending professionals who are not affiliated with a depository institution such as a bank or credit union. Correspondent lenders represent small business owners and capital in action operating retail lending operations utilizing warehouse lines as their interim funding source while delivering loans to secondary marketing channels for purchase. Correspondent lenders typically manage and control all the pieces of a mortgage’s life cycle with the exception of servicing. Origination, processing, underwriting, closing, funding, post closing, and sale of loan to the end investor tend to be the primary focus of 99.9% of correspondent operations. Correspondent lenders take on considerable risk and expense associated with packaging and selling “whole” loans in order to gain more control over their business. They use this control to differentiate themselves from their competition. The benefits of control can manifest themselves as improved customer service levels and improved investor pricing generated by file quality and volume. One could also argue that expanded program options are also a benefit to being a correspondent lender considering the recent contraction in wholesale lending. All this being said, where does Titan come in? Titan allows correspondent lenders to focus on the front-end profit generator of ORIGINATION eliminating the time and cost intensive need for a back-office. The main challenges faced by correspondent lenders are the effective and profitable management of all the different pieces of a mortgage’s life cycle while at the same time keeping their “eye on the ball” with respect to generating origination volume. Without the ability to generate origination volume, all other processes are not needed. Conversely without the effective and profitable execution of mortgage operations, net income from origination can become non-existent or inverted. Need a little TLC applied to your P & L? Titan can be the answer to plugging the leaks within your correspondent lender’s operation. We offer a comprehensive cost benefit analysis that will help you determine whether or not outsourcing is right for your business. Learn more about our services for Correspondent Lenders:
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