Overview

The cost to originate is steeper than ever despite there also being more technology at your disposal than ever before. How is this possible? The latest data shows that loan origination costs surged to a new high of $11,000 per loan in the third quarter of 2022. Companies cannot afford inefficiencies that continue to compress their margins.

While lenders, title and escrow companies have implemented beneficial technology point solutions to help alleviate the challenges, they’ve created a new problem — siloed systems that compound inefficiencies and productivity.

There’s still a path forward that provides homebuyers with a digitally forward, transparent, and unified experience but it needs to include a closer look at how you’re harnessing that technology to create automation. This is the true answer to overcoming inefficiencies and mitigating margin compression.