Though investing in a new technology solution may seem like an added expense and administrative burden up-front, lenders stand to lose much more in both time and resources by choosing to make do with legacy systems and workflows. Legacy software solutions not only negatively impact administrative capacity, but they also put financial institutions at risk time and again in the form of data entry errors.
Lending FinTech Company Expands Executive Team with Seasoned Product and Technology Development Expert.
As 2018 drew to a close, Realtor.com and Dodge Data & Analytics released detailed reports projecting the housing and construction industry trends that we can expect to see throughout 2019. As we’ve done for the past two years, we compiled the top trends and predictions from each report into two easily digestible infographics.
Lenders come in all shapes and sizes, with varied needs and unique processes. In order to best serve our clients, we need someone who’s been in their shoes and knows the ins and outs of their everyday lives. Billy Olson is that person. He joined us in December after spending nearly two decades with Wells Fargo and is instrumental in helping us to better serve our lender clients. Billy offers his story and perspective since coming to Built.
At Built, we take pride in the onboarding and implementation of each new client -- working with our clients to truly get to know the ins and outs of their workflows and tailoring our implementation process to meet their needs. We place a great deal of focus on making things as simple and pain free as possible for everyone who uses our platform, which is why we were honored when we delighted a client to the extent that they wanted to join our team. This was exactly the case with Natalie Myrick, our recently appointed director of mortgage solutions, who came on board last fall from Umpqua Bank. In this quick interview conversation, Natalie shares a little bit of her story and what she’s looking forward to helping us create at Built.
As we reach the 10-year anniversary of the inflection point of the 2008 Financial Crisis, it’s the perfect time to reflect on how the economy has (and hasn’t) recovered since the greatest economic downturn since the Great Depression.
Technology integrations have been a hot topic in software for quite some time, and for good reason. After all, as the number of systems we've grown to rely on continues to increase, they'll fail to save us time and energy if they're unable to communicate and work together. This was arguably the secret to messaging app Slack’s success -- the platform has had the ability to integrate with almost everything imaginable from the start.
We kicked off the year with a list of the top trends and predictions slated to hit the nation’s housing and construction industries throughout 2018. Driven substantially by a strong economy, increased housing demands, and a lack of inventory, this year was expected to see exponential growth within both the housing and construction industries.
The traditional construction loan administration process requires loan administrators to manually gather portfolio data from various spreadsheets and paper files when assembling reports. Without digitization, this highly manual and inefficient process can cost credit departments days, or in some cases weeks, of valuable time, and as a result, many financial institutions only review comprehensive portfolio data when deemed completely necessary.
We’re no strangers to the fact that asking people to change existing ways of operating can be a difficult ask. As a software company, we’re used to being greeted with skeptical eyes -- so much so that we’ve grown comfortable with it and use conversations with prospective clients as learning opportunities more than anything. In fact, thanks to those conversations, we created an entire blog series and ebook devoted to helping companies successfully manage software change.