COVER STORY
MORTGAGE APPLICATIONS
WhyMortgage Applications Have to Change
BIGGER ISSUES LURK BEHIND COSTLY PROCESSING METHODS.
by Peter G. Miller
A
h, the continued plight of the American mortgage system.
keep up with a number of outside factors and trends. Without change, the system would increasingly be impacted by risk, fraud, and loss- es — factors which would result in fewer originations and higher rates. And so, the lending industry needs to be ready for anything.
It may seem difficult to be- lieve that the mortgage system is stressed in any significant way. All of the traditional fundamentals appear to be positive. For instance, foreclosures — the most obvious measure of industry issues — were at a 13-year low in 2018 according
While each year millions of home- owners finance and refinance real estate with few problems, the sys- tem is increasingly fraught with new complexities and potential pitfalls. Updates are constantly needed to
14 | think realty housing news report :: june / july 2019
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