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3 ways to tackle mortgage servicing pain points

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » It has not been easy for the mortgage servicing industry to recover and navigate the economic climate in the aftermath of the Great Recession. In addition to the surge of regulations and sky-rocketing operational costs, servicers now have to contend with the changing expectations of borrowers.The best thing you can do is to take strategic steps that not only enhance the borrower experience, but also reduce operational costs. However, that can be difficult to do with so many challenges that stand in your way.3 challengesLet’s take a look at three pain points that dominate the mortgage servicing industry that you can solve with technology.1. Manual and sluggish processesOftentimes, you receive large volumes of documents in a variety of formats and types to be manually sorted, which can be overwhelming. And, it doesn’t help when manual and sluggish processes lead to slower transaction times, which makes borrowers unhappy.last_img read more

‘Dirty, smelly, awful’ is turning into gold for our newest millionaires

first_imgProperty investor and renovator Vivienne Halliday at her latest project in Bardon. Pic Peter WallisA new breed of millionaires has emerged in Queensland, who buy, renovate and flip properties, making as much as $100,000 off just eight weeks’ work.This as experts find women, especially in their mid-40s to 50s, increasingly using property flipping as a strategy to supercharge retirement funds and even head into early retirement.Dale Beaumont, author of Secrets of Property Millionaires Exposedsaid there were three ways to make money off property — buying really well, holding for a long period of time or adding value through renovation, addition or subdivision.“In a rising market you can add tens to hundreds of thousands to a property,” he told The Sunday-Mail. “Now is a really great time (to buy for flipping). It’s definitely a buyers market. There is less competition right now.” A survey by the School of Renovating found two in every five women renovating to flip properties was 45 to 54 years old, while a third were older 55 to 64. Most use subcontractors to do the work but two-thirds take on some of the DIY themselves.Property investor Vivienne Halliday, 56, has flipped 10 properties and plans to do two more a year for the next three years before “semi-retirement”. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 MORE: Is first homebuyer 5pc deposit for real? Fixer uppers in prized locations hot for buyers Brisbane house price hits new high Sun finally shines on Townsville market “I’m looking for dirty, smelly, really awful from the outside. That sort of thing reduces buyers so I don’t have much competition and it helps get the price down. It has to be well below market value,” she said of the properties chosen for flips.“I’ve always loved property, old houses especially but my husband works Fly In, Fly Out, so it’s my way to getting some money to get him home (earlier).”She started on “little bits” around her home then threw herself into learning about property investment and began buying and flipping. “I saw what other people were doing, buying one that had land to subdivide and a house to renovate, then sell both.” More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours agoHuge Aerial Panorama of the Brisbane Skyline, Queensland, Australia. Converted from RAW.The most she’s ever spent on a renovation, she said was $120,000, because the home was so run down by white ants it needed a new roof.“Most are below that, I try and keep the costs low because that’s your profit.”Profit, she said, was about “$100,000 per property” but “that depends on where it is”.“I’m certainly not going to say no to a good $20-30,000 profit if it’s quick and easy but I aim for $100,000.”Mr Beaumont said “typically you want the worst house in the street or one that will require a lot of TLC” to do a fix and flip well.For the greater Brisbane area, he recommended areas 15km outside the city, where there was “good public transport and a good family area”.His top tip was to find two or three suburbs that met that criteria, look at 100 properties that have sold there, make offers on five and “hopefully one or two will be accepted”.“Once you’ve seen 100 properties, you know what represents good value and what doesn’t,” he said. And, he said, whatever happened, “do not become emotionally connected” to properties.“It’s a great time to buy slightly under market value, and when the market does bounce back you will already have equity. What you could do is buy properties now that have potential for renovation in future, hold on for two years and then renovate a little bit later on.” FOLLOW SOPHIE FOSTER ON FACEBOOKlast_img read more

Wellington Police Notes: Monday, June 16, 2014

first_imgWellington Police note for Monday, June 16, 2014:•11:05 a.m. Officers investigated criminal damage to a vehicle when it was scratched in the 1800 block E. 16th, Wellington.•2:08 p.m. Caleb D. Stewart, 26, Wellington was arrested, charged and bonded with obstruction of law enforcement officers.last_img

Around Whittier

first_imgFor more information, call (562) 698-9059. Mac Users Club marks anniversary WHITTIER – The Whittier Area Macintosh Users Group will celebrate its 20th anniversary at 9 a.m. Saturday at Grace Evangelical Free Church, 12722 Woods Ave., Norwalk. There will be raffles, door prizes, demonstrations and more. Everyone is welcome to attend the free event. For more information, call (562) 943-4919. Poetry workshop set for Saturday WHITTIER – The Writers Club of Whittier will present a three-hour workshop, “Let’s Write a Poem,” from 10 a.m. to 1 p.m. Saturday at the Whittier Central Library, 7344 Washington Ave. The workshop will be led by Whittier poet Rosalee Thompson. Admission is free. Snacks will be provided. For more information, call (562) 696-6892. Classical recital set for Sunday WHITTIER – Mischa Lefkowitz, a violinist with the Los Angeles Philharmonic Orchestra, and some of his students will present a free recital at 4 p.m. Sunday at Whittier First United Methodist Church, 13222 Bailey St. The event is free and open to everyone. A reception will follow the concert. For more information, call (562) 698-0022. Cal High to host Earth Day event WHITTIER – In celebration of Earth Day, California High School will hold Earth Jam IV from 10 a.m. to 6p.m. Sunday at its botanical gardens on campus, 9800 Mills Ave. School and local bands such as Buena Estar and the Dennis Herrera blues band will perform throughout the day. Food, arts and crafts, and plant booths will also be available. For younger children, there will also be snail races and pond fishing. Suggested donation is $1 for children ages 8 to 12, $2 for students ages 13 to 18 and $3 for adults. For more information, call (562) 699-7171. – From staff reports 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! The driver was taken into custody on suspicion of driving under the influence, Jensen said. Dinner to raise funds for veterans SANTA FE SPRINGS – Veterans of Foreign Wars Post 3752, 11912 Rivera Road, will serve a meatloaf dinner to raise funds for veterans from 5:30 to 8:30 tonight. A donation of $4.95 per person is suggested. WHITTIER – A driver crashed a Mercedes into a parked car and the garage of a home in an unincorporated area near Whittier early Thursday, authorities said. The accident occurred at 2:10 a.m. at 14264 Lanning Ave., according to Sgt. Douglas Jensen of the sheriff’s Norwalk Station. The vehicle struck a car parked on the street before crashing into the garage of a home, Jensen said, adding that no one – including the driver – was hurt in the incident. A witness at the scene said that the car, a brand-new Mercedes with paper license plates, struck a Nissan on the street before crashing into the garage. last_img read more