Using a cloud-based lending platform provides several benefits for credit unions. It allows originators to process loans from any device with an internet connection. It enables paperless processing where documents can be uploaded to the cloud. And it gives underwriters instant access to member information and tools to streamline the underwriting process. The cloud-based approach reduces costs, improves efficiency across the lending workflow, and provides a better experience for members and staff.
Innopay @ IQPC: The role of banks in mobile paymentsJeroen de Bel
Banks are uniquely positioned to play a role in mobile payments due to their experience handling payments through issuing, acquiring, and clearing and settlement. However, the mobile payments ecosystem is complex with many stakeholders. This document focuses on the role of banks in mobile near-field communication (NFC) payments, analyzing three categories: consumer-to-business payments, mobile point-of-sale payments, and peer-to-peer payments. While banks have advantages, their position differs based on the category and competitors like electronic wallets are also well positioned to participate in the mobile payments industry.
Business is changing on virtually every front, and the world of payments is no exception. Today, merchants, financial institutions, and processors all face an evolving landscape that is being reshaped
by an array of forces. The use of credit and debit cards is changing. Emerging payment methods, based on everything from smartphones to social networks, are rapidly gaining traction, as are innovative point-of-sale systems and a growing number of ewallet- based methods. For more info: www.nafcu.org/vantiv
The document discusses issues with the global banking system including securitization practices that contributed to the global financial crisis. It then focuses on how these practices, like fractional reserve banking and securitization, operate in South Africa and raises legal questions about their implications. Banks were unwilling or unable to provide clear answers about securitization processes and their effects on consumers' loans and rights. Regulators are investigating but have not released details. Understanding how the financial system works is important for consumers to avoid vulnerability to abusive practices.
The central bank has historically engaged in commercial activities like taking deposits and lending to private citizens and firms. For over two centuries, the Bank of England vigorously pursued profit through these commercial activities. Similarly, the First and Second Banks of the United States actively participated in credit markets. Sometimes central banks dominated financial intermediation, as was the case for the Bank of Spain in 1900 which held over two-thirds of banking sector assets and deposits. The historical precedent suggests central banks opening their balance sheets to the public is not a new concept.
Don't invest in crypto currencies till you read The Future Money Playbook. Topics include:
1. History of Money
2. Tech terms
3. Smart contracts
4. DeFi
5. Stablecoins
6. Central Bank Digital Currency
7. eMoney
8. Prime Crypto Currencies (BTC, BCH, BSV, ETH, ETC, XRP, XLM, LTC, ADA, EOS)
9. Prime Stablecoins (BUSD, Diem)
10. Crypto Wallets
11. Crypto Custody
12. How to keep your crypto safe
13. Crypto Resources
2015 North Bridge Future of Cloud Computing Study, with Wikibon |Broadest exploration of cloud trends, cloud migration & evolution of the cloud computing sector. Survey participation was the largest to date and included responses from 38 countries. 50 collaborators supported the 5th Annual Future of Cloud Computing study, which reveals that cloud has become an accepted and integral technology. Furthermore, the study shows that despite deployment gaps among clouds, we should expect a future powered by hybrid cloud technologies. The question of whether companies are using the cloud has morphed to how deeply cloud adoption is integrated within the business. From the bottom to the top, all products and services will in some way be powered by the cloud making the promise of goods and services that have the potential to be better tomorrow than today. IT departments have reclaimed the reins on driving company technology strategy and cloud adoption as roles, skills and processes have shifted. Importantly, We’re also seeing the emergence of the cloud as the only way businesses can truly get more out of their data including analyzing and executing on it real-time. On the investment front, 2015 could tip the scale from private to public capital for SaaS companies.
The document summarizes a presentation about LoanResolve Technologies, a real estate mortgage loss mitigation system. It discusses how the system provides a single dashboard for loan processing, foreclosure prevention, and connecting all relevant parties. It also outlines how the system handles the entire loan process from early delinquency to REO asset disposition, with a focus on loss mitigation, short sales, and online auctions. Security of customer data is handled through partnerships with Peak 10 data centers.
This document summarizes the services of a company called OnlyTrust that issues Letters of Credit (LOCs) backed by a stable cryptocurrency called Life Credit Coin. Key points include:
- OnlyTrust issues LOCs globally for individuals and businesses with no credit requirements. LOCs increase 12% annually for 30 years.
- Life Credit Coins are stored in a digital vault and back the LOCs. Their price is also designed to increase 12% annually for 30 years.
- The goal of OnlyTrust is to provide a simple and affordable way for individuals and businesses to obtain LOCs through their platform and custom applications using blockchain and smart contract technology.
Innopay @ IQPC: The role of banks in mobile paymentsJeroen de Bel
Banks are uniquely positioned to play a role in mobile payments due to their experience handling payments through issuing, acquiring, and clearing and settlement. However, the mobile payments ecosystem is complex with many stakeholders. This document focuses on the role of banks in mobile near-field communication (NFC) payments, analyzing three categories: consumer-to-business payments, mobile point-of-sale payments, and peer-to-peer payments. While banks have advantages, their position differs based on the category and competitors like electronic wallets are also well positioned to participate in the mobile payments industry.
Business is changing on virtually every front, and the world of payments is no exception. Today, merchants, financial institutions, and processors all face an evolving landscape that is being reshaped
by an array of forces. The use of credit and debit cards is changing. Emerging payment methods, based on everything from smartphones to social networks, are rapidly gaining traction, as are innovative point-of-sale systems and a growing number of ewallet- based methods. For more info: www.nafcu.org/vantiv
The document discusses issues with the global banking system including securitization practices that contributed to the global financial crisis. It then focuses on how these practices, like fractional reserve banking and securitization, operate in South Africa and raises legal questions about their implications. Banks were unwilling or unable to provide clear answers about securitization processes and their effects on consumers' loans and rights. Regulators are investigating but have not released details. Understanding how the financial system works is important for consumers to avoid vulnerability to abusive practices.
The central bank has historically engaged in commercial activities like taking deposits and lending to private citizens and firms. For over two centuries, the Bank of England vigorously pursued profit through these commercial activities. Similarly, the First and Second Banks of the United States actively participated in credit markets. Sometimes central banks dominated financial intermediation, as was the case for the Bank of Spain in 1900 which held over two-thirds of banking sector assets and deposits. The historical precedent suggests central banks opening their balance sheets to the public is not a new concept.
Don't invest in crypto currencies till you read The Future Money Playbook. Topics include:
1. History of Money
2. Tech terms
3. Smart contracts
4. DeFi
5. Stablecoins
6. Central Bank Digital Currency
7. eMoney
8. Prime Crypto Currencies (BTC, BCH, BSV, ETH, ETC, XRP, XLM, LTC, ADA, EOS)
9. Prime Stablecoins (BUSD, Diem)
10. Crypto Wallets
11. Crypto Custody
12. How to keep your crypto safe
13. Crypto Resources
2015 North Bridge Future of Cloud Computing Study, with Wikibon |Broadest exploration of cloud trends, cloud migration & evolution of the cloud computing sector. Survey participation was the largest to date and included responses from 38 countries. 50 collaborators supported the 5th Annual Future of Cloud Computing study, which reveals that cloud has become an accepted and integral technology. Furthermore, the study shows that despite deployment gaps among clouds, we should expect a future powered by hybrid cloud technologies. The question of whether companies are using the cloud has morphed to how deeply cloud adoption is integrated within the business. From the bottom to the top, all products and services will in some way be powered by the cloud making the promise of goods and services that have the potential to be better tomorrow than today. IT departments have reclaimed the reins on driving company technology strategy and cloud adoption as roles, skills and processes have shifted. Importantly, We’re also seeing the emergence of the cloud as the only way businesses can truly get more out of their data including analyzing and executing on it real-time. On the investment front, 2015 could tip the scale from private to public capital for SaaS companies.
The document summarizes a presentation about LoanResolve Technologies, a real estate mortgage loss mitigation system. It discusses how the system provides a single dashboard for loan processing, foreclosure prevention, and connecting all relevant parties. It also outlines how the system handles the entire loan process from early delinquency to REO asset disposition, with a focus on loss mitigation, short sales, and online auctions. Security of customer data is handled through partnerships with Peak 10 data centers.
This document summarizes the services of a company called OnlyTrust that issues Letters of Credit (LOCs) backed by a stable cryptocurrency called Life Credit Coin. Key points include:
- OnlyTrust issues LOCs globally for individuals and businesses with no credit requirements. LOCs increase 12% annually for 30 years.
- Life Credit Coins are stored in a digital vault and back the LOCs. Their price is also designed to increase 12% annually for 30 years.
- The goal of OnlyTrust is to provide a simple and affordable way for individuals and businesses to obtain LOCs through their platform and custom applications using blockchain and smart contract technology.
What Title Companies Can Do Now to Prepare for the Future of Mortgage LendingKhurram Mukhtar
Uncertainties in the home industry are inevitable. Managing various parties like sellers, agents, and appraisal companies can be complicated. We understand the challenges that home finance professionals face in mortgage loan origination. However, these complexities raise the question of how title companies can prepare for the future of mortgage lending. In search of a better solution, AtClose sheds light on the minimum requirements with the lenders and title agents. Attempting to meet those underlying needs while catering to industry challenges, AtClose designed a complete title industry solution. Read the whitepaper to learn how AtClose's leading order processing technology removed the friction that has been denying the title industry efficiency for so long.
Find out more about AtClose: https://www.atclose.com/
1) The document discusses speed bumps that companies face in adopting advanced technology for document processing, including regulatory headaches, staying compliant, cost control, and meeting service level agreements. It also discusses technology speed bumps such as handling document volume and velocity, validation challenges, and issues with cloud vs. on-premise solutions.
2) It notes that while the technology for automated document processing has matured, many companies have been slow to adopt it due to rigid pricing models from some vendors and challenges upgrading legacy software.
3) However, it suggests the industry is at a critical juncture and companies that take a customer-centric approach with flexible, upgradeable technology will be best positioned to automate document processing and
This complete presentation has PPT slides on wide range of topics highlighting the core areas of your business needs. It has professionally designed templates with relevant visuals and subject driven content. This presentation deck has total of twentytwo slides. Get access to the customizable templates. Our designers have created editable templates for your convenience. You can edit the colour, text and font size as per your need. You can add or delete the content if required. You are just a click to away to have this ready-made presentation. Click the download button now.
Graydon International is a global credit information company that provides business credit reports and web services to help companies manage credit risk when expanding internationally or working with new partners. It has a network of local credit data sources around the world and aims to give clients access to high-quality, real-time credit information through an integrated global system. Graydon offers online credit reports, web services, and credit monitoring solutions to help lower clients' risks and support business growth. Client testimonials praise Graydon's services, value, and customer support.
Can Technological Soldiers Like Blockchain & AI Help Banks Prevent Bad Debts?aNumak & Company
Using blockchain and artificial intelligence, it is possible to reduce the number of bad debts radically by providing better insights and better digital infrastructure.
Bill Dallas has over 35 years of experience in the mortgage industry. He founded First Franklin, which was sold for $232 million in 1998. He later purchased and sold other mortgage companies for hundreds of millions of dollars. Currently, he is the CEO of Skyline Home Loans, which he joined in 2009. Skyline has grown through acquisitions to produce over $1 billion in loans annually with plans to expand to $10 billion annually within five years. Skyline aims to take market share back from large banks by offering an innovative digital mortgage platform that reduces costs and improves compliance.
This document provides an overview of technology spending by U.S. bankers in 2012. It discusses key themes in the banking industry like channel shift, disintermediation, customer engagement, and improving customer experience. The document also summarizes the state of the banking industry in 2011, noting continued challenges from the mortgage crisis but signs of recovery. Technology spending growth is projected to be modest at 1.8% in 2012 due to uncertainties. The rest of the document breaks down projected spending areas and provides expert opinions on trends in mobile banking, analytics, compliance, security and other technologies.
LoanCloser offers superior customer service compared to other mortgage service providers. Their investment in technology over the past decade has allowed them to create a collaborative system that benefits both lenders and borrowers. LoanCloser provides an electronic file that enables all parties to communicate and stores a complete audit trail of email and SMS messages sent and received during the mortgage transaction process.
Data-driven Banking: Managing the Digital TransformationLindaWatson19
The digital revolution has arrived in banking. Evolving customer expectations, increasing cyber threats and growing volumes of data are just a few of the challenges faced by traditional financial institutions.
The document discusses how plagiarism, piracy, and lack of proper etiquette online are harming creativity. Plagiarism involves stealing others' work by passing it off as one's own. Piracy refers to illegally distributing copyrighted material like software without permission. Improper online etiquette can compromise one's integrity and make them more prone to plagiarism or piracy. These issues are interrelated and their negative consequences like monetary losses and damaged reputations are justified. Upholding ethical standards online through respecting others' work and being civil is important for society and creativity to progress.
Global trade of goods has been growing at double-digit rates since the early 2000s. Digitzation had its time; but still we have manual paper based work exsisitng in most of the Trade finance activities. Now is the time to see value addition from Blockchain based platforms and how they can make this process faster, reliable and paperless.
How does blockchain developer help improving the banking & finance sector Blockchain Council
We need to understand why there is a need for syncing Blockchain technology intervention in the banking and finance sector. To understand this, let us have an insight into the current problems that surround the banking sector:
Diminishing Startup Costs: major trends research notesChris Jones
The document discusses how startup costs have plummeted due to factors like cloud computing and open source software. This has led to a dramatic reduction in the capital requirements needed for startups to launch. Additionally, the summary discusses how universities are focusing more on entrepreneurship and how municipalities and states are trying to encourage startups and entrepreneurship to create jobs and economic growth. The last sentence summarizes that falling startup costs and global networks now allow individuals to access resources independently of their geographical location.
You often hear tech experts discussing how powerful blockchain technology is. Today, you’ll find out exactly how influential it can be in transforming traditional businesses.
Source: https://www.moontechnolabs.com/blog/how-blockchain-development-companies-can-help-businesses/
This document discusses how organizations can respond to digital disruption. It notes that rapid technological changes are enabling new business models and customer experiences. To avoid being disrupted, companies must adopt modern work practices like DevOps, automation, collaboration, iterative delivery, and cloud-first strategies. They should also cultivate an innovative culture with traits like empowerment, experimentation, diversity, and questioning assumptions. The document provides examples of disruption in various industries like insurance, transportation, and geospatial services to illustrate these points.
The document discusses the opportunities for banking in Asia driven by technological changes and increasing digital adoption. It notes that customer expectations are shifting towards digital and personalized experiences. It outlines some key priorities for banks like leveraging data, improving assets quality, and building ecosystems. It discusses how retail and SME banking are moving from product-centric to customer-centric strategies focused on relevant customer journeys. The document also examines potential use cases of blockchain in areas like trade finance and supply chain financing. It highlights challenges to blockchain adoption like lack of standards and regulatory issues. It provides guidance to blockchain providers on focusing efforts and securing commitments from large partners.
Video Marketing:The Secret That Successful Business Owners Know, But You Don’t.Ashley Rees-Mize
The document discusses trends and predictions for online video marketing in 2012 and beyond. Some key points:
- Video, especially on mobile devices, will continue to grow rapidly and be a central part of social media and internet marketing. Barriers to entry for small content creators will decrease as services improve.
- Formats like HD video and mobile optimization will be important. Videos longer than 3 minutes should be optimized for mobile viewing.
- YouTube remains hugely popular and continues to grow rapidly. It is now the second largest search engine and the largest video sharing platform. Success on YouTube does not require going viral but rather focusing on the right audience.
What Title Companies Can Do Now to Prepare for the Future of Mortgage LendingKhurram Mukhtar
Uncertainties in the home industry are inevitable. Managing various parties like sellers, agents, and appraisal companies can be complicated. We understand the challenges that home finance professionals face in mortgage loan origination. However, these complexities raise the question of how title companies can prepare for the future of mortgage lending. In search of a better solution, AtClose sheds light on the minimum requirements with the lenders and title agents. Attempting to meet those underlying needs while catering to industry challenges, AtClose designed a complete title industry solution. Read the whitepaper to learn how AtClose's leading order processing technology removed the friction that has been denying the title industry efficiency for so long.
Find out more about AtClose: https://www.atclose.com/
1) The document discusses speed bumps that companies face in adopting advanced technology for document processing, including regulatory headaches, staying compliant, cost control, and meeting service level agreements. It also discusses technology speed bumps such as handling document volume and velocity, validation challenges, and issues with cloud vs. on-premise solutions.
2) It notes that while the technology for automated document processing has matured, many companies have been slow to adopt it due to rigid pricing models from some vendors and challenges upgrading legacy software.
3) However, it suggests the industry is at a critical juncture and companies that take a customer-centric approach with flexible, upgradeable technology will be best positioned to automate document processing and
This complete presentation has PPT slides on wide range of topics highlighting the core areas of your business needs. It has professionally designed templates with relevant visuals and subject driven content. This presentation deck has total of twentytwo slides. Get access to the customizable templates. Our designers have created editable templates for your convenience. You can edit the colour, text and font size as per your need. You can add or delete the content if required. You are just a click to away to have this ready-made presentation. Click the download button now.
Graydon International is a global credit information company that provides business credit reports and web services to help companies manage credit risk when expanding internationally or working with new partners. It has a network of local credit data sources around the world and aims to give clients access to high-quality, real-time credit information through an integrated global system. Graydon offers online credit reports, web services, and credit monitoring solutions to help lower clients' risks and support business growth. Client testimonials praise Graydon's services, value, and customer support.
Can Technological Soldiers Like Blockchain & AI Help Banks Prevent Bad Debts?aNumak & Company
Using blockchain and artificial intelligence, it is possible to reduce the number of bad debts radically by providing better insights and better digital infrastructure.
Bill Dallas has over 35 years of experience in the mortgage industry. He founded First Franklin, which was sold for $232 million in 1998. He later purchased and sold other mortgage companies for hundreds of millions of dollars. Currently, he is the CEO of Skyline Home Loans, which he joined in 2009. Skyline has grown through acquisitions to produce over $1 billion in loans annually with plans to expand to $10 billion annually within five years. Skyline aims to take market share back from large banks by offering an innovative digital mortgage platform that reduces costs and improves compliance.
This document provides an overview of technology spending by U.S. bankers in 2012. It discusses key themes in the banking industry like channel shift, disintermediation, customer engagement, and improving customer experience. The document also summarizes the state of the banking industry in 2011, noting continued challenges from the mortgage crisis but signs of recovery. Technology spending growth is projected to be modest at 1.8% in 2012 due to uncertainties. The rest of the document breaks down projected spending areas and provides expert opinions on trends in mobile banking, analytics, compliance, security and other technologies.
LoanCloser offers superior customer service compared to other mortgage service providers. Their investment in technology over the past decade has allowed them to create a collaborative system that benefits both lenders and borrowers. LoanCloser provides an electronic file that enables all parties to communicate and stores a complete audit trail of email and SMS messages sent and received during the mortgage transaction process.
Data-driven Banking: Managing the Digital TransformationLindaWatson19
The digital revolution has arrived in banking. Evolving customer expectations, increasing cyber threats and growing volumes of data are just a few of the challenges faced by traditional financial institutions.
The document discusses how plagiarism, piracy, and lack of proper etiquette online are harming creativity. Plagiarism involves stealing others' work by passing it off as one's own. Piracy refers to illegally distributing copyrighted material like software without permission. Improper online etiquette can compromise one's integrity and make them more prone to plagiarism or piracy. These issues are interrelated and their negative consequences like monetary losses and damaged reputations are justified. Upholding ethical standards online through respecting others' work and being civil is important for society and creativity to progress.
Global trade of goods has been growing at double-digit rates since the early 2000s. Digitzation had its time; but still we have manual paper based work exsisitng in most of the Trade finance activities. Now is the time to see value addition from Blockchain based platforms and how they can make this process faster, reliable and paperless.
How does blockchain developer help improving the banking & finance sector Blockchain Council
We need to understand why there is a need for syncing Blockchain technology intervention in the banking and finance sector. To understand this, let us have an insight into the current problems that surround the banking sector:
Diminishing Startup Costs: major trends research notesChris Jones
The document discusses how startup costs have plummeted due to factors like cloud computing and open source software. This has led to a dramatic reduction in the capital requirements needed for startups to launch. Additionally, the summary discusses how universities are focusing more on entrepreneurship and how municipalities and states are trying to encourage startups and entrepreneurship to create jobs and economic growth. The last sentence summarizes that falling startup costs and global networks now allow individuals to access resources independently of their geographical location.
You often hear tech experts discussing how powerful blockchain technology is. Today, you’ll find out exactly how influential it can be in transforming traditional businesses.
Source: https://www.moontechnolabs.com/blog/how-blockchain-development-companies-can-help-businesses/
This document discusses how organizations can respond to digital disruption. It notes that rapid technological changes are enabling new business models and customer experiences. To avoid being disrupted, companies must adopt modern work practices like DevOps, automation, collaboration, iterative delivery, and cloud-first strategies. They should also cultivate an innovative culture with traits like empowerment, experimentation, diversity, and questioning assumptions. The document provides examples of disruption in various industries like insurance, transportation, and geospatial services to illustrate these points.
The document discusses the opportunities for banking in Asia driven by technological changes and increasing digital adoption. It notes that customer expectations are shifting towards digital and personalized experiences. It outlines some key priorities for banks like leveraging data, improving assets quality, and building ecosystems. It discusses how retail and SME banking are moving from product-centric to customer-centric strategies focused on relevant customer journeys. The document also examines potential use cases of blockchain in areas like trade finance and supply chain financing. It highlights challenges to blockchain adoption like lack of standards and regulatory issues. It provides guidance to blockchain providers on focusing efforts and securing commitments from large partners.
Video Marketing:The Secret That Successful Business Owners Know, But You Don’t.Ashley Rees-Mize
The document discusses trends and predictions for online video marketing in 2012 and beyond. Some key points:
- Video, especially on mobile devices, will continue to grow rapidly and be a central part of social media and internet marketing. Barriers to entry for small content creators will decrease as services improve.
- Formats like HD video and mobile optimization will be important. Videos longer than 3 minutes should be optimized for mobile viewing.
- YouTube remains hugely popular and continues to grow rapidly. It is now the second largest search engine and the largest video sharing platform. Success on YouTube does not require going viral but rather focusing on the right audience.
Video Marketing:The Secret That Successful Business Owners Know, But You Don’t.
MortgageDashboard
1. Using A Lending Platform In
The Cloud
To Serve Your Members
Jorge Sauri
Chief Technology Officer
Mortgage Dashboard
jorges@mortgagedashboard.com
2. Session Goals
o Understanding Mortgage Market Conditions.
We’ll take a look at the current mortgage banking environment
and why it is a good time for credit unions to grow their real
estate lending presence.
o Learn the basics behind Cloud Computing.
Find out how the cloud computing works and why your credit
union software platforms need to be full web enabled and run
from a cloud.
o Discover the benefits of using a Cloud based lending platform.
Learn how to improve your members lending
experience, manage regulatory compliance and achieve positive
return-on-investment by using lending technology built for the
Cloud.
4. The Residential Mortgage Market –
Growth & Opportunity
o Mortgage Bankers Association early forecasts for 2012 were
under $1 trillion in residential home mortgages; September
2012 forecasts now put it over $1.4 trillion and continuing
to exceed $1 trillion in 2013.
1.60
1.40
1.20 2012 Total
1.00 Originations
0.80 Purchases
0.60
0.40
Refinances
0.20
0.00
Jan 2011 Sep 2012
Forecast Forecast
5. The Residential Mortgage Market –
Growth & Opportunity
o Nationwide home values increased 4.6% in Aug 2012 as
compared to August 2011 – biggest increase in 6 years.
Home Price Index Increase / Decrease
CoreLogic Sep 2012
5.00%
0.00%
Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 -5.00%
Aug-12
-10.00%
-15.00%
-20.00%
6. The Residential Mortgage Market –
Growth & Opportunity
o Historic low rates with
30 year fixed around
3.5% and 15 year
under 3%, refinances
continue to boom and
purchases are on the
rise.
7. Credit Unions and The Residential
Mortgage Market
o Credit unions originated $56 billion in residential mortgage
loans in the first 6 months of 2012. This represents about 1/3
of credit union total loan origination and less than 8% of all
residential mortgage loans in the U.S. So there is opportunity
for more growth!
8. Credit Unions and The Residential
Mortgage Market
o Credit unions sell just over ½ of the mortgage loans on the
secondary market. However, studies show that institutions
which sell residential mortgage loans see greater income and
profits with 257 basis point gains in Q2 2012.
o MBA reports that profits on residential mortgage lending rose
from $1,654 in Q1 2012 up to $2,152 in Q2 2012.
o According to the American Customer Satisfaction Survey
(ACSI) survey last year, members are more satisfied then ever
before with credit unions, as the industry’s score soars 8.7% to
87 (on a scale of 0 to 100)—the highest score ever reached by
any of ACSI’s 47 industries.
o In just one year, credit unions have tripled their ACSI lead over
banks.
9. Future Challenges in Mortgage Banking
o The industry is going through unprecedented changes
with the ongoing implementation of Dodd-Frank and
the establishment of CFPB and future GSE reform.
o While CFPB does not have direct oversight over most
credit unions, the credit union industry need to
follow the rules established by the CFPB regarding
financing.
o TILA modifications (new APR calcs), RESPA reform
(new documents), SAFE Act (licensing of
originators), Risk Retention (limits on loan sales) all
will require credit unions to have leading edge
technology to stay compliant.
10. Summary on Mortgage Market
Conditions
o Forecasts and analysis show that
real estate and residential
financing is making a rebound.
o Mortgage Banking is profitable
when done properly.
o Credit Unions have room to grow
with greater consumer confidence
and current low market share.
o Regulatory change will present
challenges that can be overcome
with proper flexible and compliant
technology.
12. What is Cloud Computing?
o Cloud computing is Internet-based
computing, whereby shared resources, software, and
information are provided to computers and other
devices on demand, like the electricity grid. In other
words, Cloud computing refers to anything that
involves delivering hosted services over the internet
and encompasses any subscription-based or pay-by-
use service that, in real time, extends IT’s existing
capabilities.
14. What is Cloud Computing?
o Cloud computing is where entire businesses and
thousands of employees will run their computer tools
as online rented products. All of the processing work
and file saving will be done "in the cloud" of the
Internet, and the users will plug into that cloud every
day to do their computer work.
15. What is Cloud Computing?
o The primary benefit of cloud computing is reduced
cost for everyone involved. Software vendors do not
have to spend thousands of hours supporting users
over the phone... they would simply maintain and
repair a single central copy of the product online.
Conversely, users wouldn't have to shell out the large
up-front costs of fully purchasing word
processing, spreadsheet, or other end user products.
Users would instead pay nominal rental fees to access
the large central copy.
16. What Cloud Computing is Not?
o Cloud computing is not your corporate data center. If
you own the infrastructure. It's your network, your
hardware, your infrastructure.
o Cloud computing is not what you do at a datacenter
that you contract with. Whether that be a colocation
datacenter or a managed hosting datacenter. If you
have to specify that hardware you want to use, if you
direct the procurement activity, it's not cloud
computing. That's either colocation or managed
hosting - respectively.
17. Examples of Cloud Computing in Your
Everyday Life
o Email on the go – Google /
Yahoo
o Local Data Storage - Data
stored on your home or
business computer suffers
from many of the same
restrictions as email and, as with email, the cloud
offers a solution. Storing your MP3′s, video, photos
and documents online instead of at home gives you
the freedom to access them wherever you can find the
means to get online.
18. Examples of Cloud Computing in Your
Everyday Life
o Collaboration - On occasion you may find yourself in
need of the collaboration with your peers.
Downloading files onto flash memory, emailing
documents to friends or family or colleagues is
inefficient and time consuming. Last year Google
launched a service that allowed groups of people to
work on the same document, idea or proposal in real
time or whenever convenient to each participant.
o Mobility is the new internet – Books, Music and
Wallet are becoming software
20. Benefits of the Cloud in Lending
o The complexity and duration of the mortgage banking
transaction makes it an ideal process for the Cloud.
o Let’s look at each step in the typical mortgage process
and discuss how greater efficiency can be achieved by
using cloud based technology.
21. General Benefits of the Cloud in
Lending
o No data server is required for the credit union.
o No software needs to loaded locally on PCs and
devices.
o Any PC, tablet or mobile device can access the
pipeline – anywhere, anytime.
o Central system administration of the process as no
data is stored locally and all information can be
viewed from anywhere, anytime.
o Centralized lending systems have proven to reduce
mortgage process expenses by over 30%.
22. Benefits of the Cloud in Originators
o Loan originators have the ability to take a loan
anywhere from any device that has an available
internet connection from your office to member
homes to real estate agencies to even construction
sites via a tablet or satellite modem.
o Loans can be priced immediately with current product
rates and requirements, credit can be ordered and
conditional approval given using automated
underwriting engines.
o Members can create an application via a portal at
their convenience and have it immediately available
to the credit union for processing.
23. Benefits of the Cloud in Processing
o Loan processors can immediately start managing the
application.
o Documents that are needed to process from payroll
statements to tax returns to bank statements can be
uploaded to the cloud by the borrower or originator
to expedite the work-flow.
o Electronic access to information makes for a
“greener” experience helping our environment and
providing cost-savings.
24. Benefits of the Cloud in Underwriting
o Underwriters have instant access to conversation logs
to better understand the member’s needs without
time consuming phone calls or emails.
o By using automated underwriting tools like Fannie
Mae DU and Freddie Mac LP, underwriters can review
preliminary findings and investor requirements.
o Conditions to close can be posted to cloud and
accessed immediately by originators, processors and
members through a portal.
25. Benefits of the Cloud in Closing
o Closers can verify that all conditions have been
satisfied and can communicate final requirements to
all stakeholders through the cloud.
o Closing documents can be generated automatically
and electronically delivered to closing attorneys or
title agents for expedited loan settlement.
o Funds can be automatically disbursed via closing
agents to sellers, borrowers and service providers.
26. Benefits of the Cloud in Post-Closing
o Post-Closers will receive notification of successful
closing and can review electronic closing documents
for completeness and begin managing the receipt of
final documents.
o Loans can be immediately booked to the credit union
or prepared for shipping to an investor.
o Disbursement of funds can be easily reviewed and
applied to appropriate general ledger accounts upon
disbursement.
27. Benefits of the Cloud in Secondary
Marketing
o Loan products with current pricing can be easily
entered and be immediately accessed by
originators, processors, underwriters and closers.
o Loans can be registered or locked through the cloud
so management is notified instantly of a members
intentions.
o Loans can be delivered electronically to post-
closers, servicers and investors.
o Regulatory and Investor Compliance can be ensured
because no software is updated locally; all users are
accessing the same version of the application.
28. What To See Lending Cloud Technology
in Action?
o MortgageDashboard provides
centralized, seamless, browser-based loan
orchestration managed in a secure cloud environment.
An On-Demand Solution for Loan Origination
Management — Anywhere, Anytime.
o Let me show you how cloud based mortgage software
works, provides an improved experience for members
and achieves a positive ROI for the credit union.