Teraverde Current Commentary

LOS and Customer Experience

Mortgage executives need to define the experience they want their customers to have. This experience can be defined in both qualitative and quantitative terms. They should be asking questions such as - How long should the approval and closing process take? How fast...

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Ransomware and Other Hacks – You are a Target

Everyone with data is a target. The question is not if you are a target. The question is how are you defending yourself. Good internal controls need to extend to IT security of the Loan Origination System (LOS) and all related systems. Every LOS has known security...

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What Can Lenders Learn from An Airline Captain?

What can mortgage bankers learn from other industries? I was speaking with a Southwest Airlines captain recently (he was deadheading to his duty station). The conversation was informative. “Southwest Airlines has 6,500+ pilots, and every pilot can fly every one of...

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