Digital Lending Move Ahead or Fall Behind

first_img borrower experience Lender Technology 2019-02-04 Donna Joseph Share February 4, 2019 1,041 Views in Daily Dose, Featured, Market Studies, Newscenter_img A recent tech study conducted by STRATMOR Group shed light on where lenders have made major strides as well as the areas where they are lagging.The January issue of the Insights Report examined system technologies widely used by lenders and found that 76 percent of mortgage lenders currently give borrowers the ability to sign disclosures online compared to 61 percent in 2017, while 72 percent allow borrowers to upload documents and respond to loan conditions online. The share of respondents who use agency solutions for loan delivery data validation, compliance and loan salability was 72 percent.The report pointed out that the primary driver of lenders’ technology investments has shifted from regulatory concerns to a focus on improving customer service. Providing mortgage borrowers with a digital experience is no longer a competitive advantage but the new reality for mortgage lenders. “Today we have an environment that is about stealing market share and succeeding with the tougher purchase transactions. Customer satisfaction and maintaining relationships have replaced regulatory mandates as the top concerns. That means meeting the needs of borrowers and referral sources,” said Garth Graham, Senior Partner at STRATMOR. Ellie Mae’s Encompass was the most used point of sale technology for the fourth year in a row, followed by Blend, the report noted. Only 18 percent of respondents said they do not use a company-sponsored lead management tool.  The rest of the 82 percent use one or more CRMs of the 24 third-party systems. Top of Mind, Salesforce, and Velocify hold the top three spots. Optimal Blue was the leading product and production engine among respondents. According to the report, among the different technologies used, lenders were most likely to stay with their current production pipeline hedging, loan origination software, and product and pricing engine technologies rather than switching to competing products. “Today’s borrowers expect a digital experience, and lenders that do not empower consumers to upload and execute loan documents online are not only in the minority but are falling far behind their peers,” Graham said.  He also reiterated that “while lenders are deploying and utilizing digital capabilities on the front end of the origination process, there are great opportunities to gain efficiencies on the back end.” It is a mistake if lenders do not consider the impact of new technologies on customer experience, according to Graham. He emphasized the need for lenders to “measure borrower satisfaction at a deep level to quantify the impact,” before making an investment in any new technology.  Participants in the STRATMOR study included independent and bank-owned or -affiliated mortgage companies ranging in size from under $250 million in annual production to those that ranked among the 10 largest in the industry in total origination volume.  Click here for more. Digital Lending: Move Ahead or Fall Behindlast_img read more

How to see Turkey on a budget

first_imgWhat to do in Istanbul Where once stood the Hippodrome of Constantinople (the capital of the Byzantine Empire) now you find Istanbul’s most buzzing and glorious square. Sultanahmet Meydanı is surrounded by some of the city’s most-visited historic monuments, including the massive ex-Byzantine church (and now museum) of Hagia Sofia, and the Blue Mosque with its impressive six minarets. The latter is free to visit, but it is best to avoid prayer times. The Bosphorus Bridge, connecting Istanbul’s European and Asian sides, is hands down one of the city’s most photogenic sights. But you don’t need to spend a fortune on a dinner cruise or the nearby seafood restaurants to soak up the spellbinding panorama. Grab instead a delicious Turkish kumpir (baked potato) from the street food vendors in Ortaköy and find the perfect spot by the water to marvel at the 1,560 metre-long suspension bridge, illuminated at night by incredibly atmospheric LED lights. Tempted? Start looking for cheap flights to Turkey from your nearest airport now Half-beach, half-city: these dual destinations have it all Book cheap flights to Antalya Straddling Europe and Asia, Istanbul is the place to go if you want to combine Turkish tradition and contemporary culture, the hustle and bustle of a busy metropolis and quiet backstreets full of old-world charm. Here are three of the best things to do in Istanbul on a budget. 3. Relax with a traditional Turkish bath Where to go on holiday next? 5 travel gurus share their top destinations Dreaming of floating in aquamarine waters and walking winding trails in the woodlands? A gateway to the scenic routes of the Turkish Riviera, Antalya offers all of the above, as well as a vibrant city centre boasting a picturesque old town and an exciting culinary scene. Cheap direct flights from the UK will get you to one of Turkey’s best holiday spots in a little over four hours. The Blue Lagoon at Ölüdeniz is Dalaman’s star tourist attraction, a haven of turquoise waters surrounded by lush vegetation. One of the perks of visiting in the far more relaxed month of October is swimming alongside sea turtles shyly sticking their head out of the water. This is, after all, a protected natural park. 3. Explore the wild beauty of the Hidden City 1. Be inspired by historic grandeur in Sultanahmet Square ReturnOne wayMulti-cityFromAdd nearby airports ToAdd nearby airportsDepart14/08/2019Return21/08/2019Cabin Class & Travellers1 adult, EconomyDirect flights onlySearch flights Map Book cheap flights to Dalaman Read more about Dalaman What to do in Dalaman If August is your month of choice and you find there’s little space to lay your beach towel, Ölüdeniz offers an even more spectacular alternative: you’ll find numerous companies providing tandem paragliding flights from the imposing Babadağ mountain. Although paragliding doesn’t come cheap, tandem flights here are some of the most affordable on offer. It’s little wonder Ölüdeniz is one of the world’s most sought-after paragliding destinations. Nothing beats the view of the Blue Lagoon from above! Book cheap flights to Istanbul We’ve picked the best things to do in three of the country’s most beautiful and affordable holiday destinations. All you need to do is bag the cheapest flight and hotel deals. And don’t forget to pack your sunscreen! 1. Get your first taste of the Turquoise Coast at Konyaaltı Beach *Published on 17 June 2019. Prices correct at the time of writing and subject to change and/or availability. 2. Check out the view from above There are several budget options for a Turkish bath around Antalya, but it’s worth making your first hammam an experience to remember. The 600-year-old Sefa Hamam is the city’s most atmospheric public bath house, popular with both tourists and locals. A traditional hammam here costs around £8 (40 Turkish liras). But, at these prices, why not splurge a little more and truly pamper yourself? Combine hammam, peeling, hot soap and oil massages for the bargain price of £24 (180 liras), and we promise: Your cheap holidays in Turkey will leave you feeling like royalty! Read more about Istanbul What to do in Antalya Find cheap flights to Turkey Search hotels in Turkey Get even more travel goodness straight to your inbox.Sign up  Melding together the sun-bleached beaches of the Mediterranean with the mystery and allure of the Middle East, Turkey is a fascinating destination to visit at any time of year. As an added bonus, the current pound to lira exchange rate also makes it a particularly inexpensive travel choice. Whether you’re planning a weekend city break or a long holiday in the sun, there are several different options to see Turkey on a budget. You don’t have to travel far from the city centre for a dip in the Turkish Riviera’s strikingly blue waters. Konyaaltı Beach, near Kaleiçi (Old Town), is Antalya’s No1 attraction with showers, sunloungers and a range of restaurants and bars within easy reach. Fun things to do at the beach include jet skiing and walking down Konyaaltı’s palm-fringed promenade with Mount Olympus providing an unbeatable backdrop to the west. Where to go when you only have a week’s holiday Read more about Antalya About 50 km east of Antalya lies Aspendos, the Greco-Roman city best known for its stunningly preserved Roman amphitheatre. It dates from the 2nd century AD and, if you visit here during high season, you’ll also catch a host of opera and ballet performances. Guided day trips from Antalya cost between £50-60, so it’s worth hiring a car to explore the area’s splendid monuments and tourist attractions in your own time. Things not to miss are also the ancient city of Perge, the quiet seaside town of Side and the Duden Waterfalls. 3. Capture the stunning panorama of the Bosphorus Bridge 1. Take a dip in the Blue Lagoon at Ölüdeniz 2. Haggle for souvenirs at the Grand Bazaar The best time to visit Turkey depends on the places you want to see, as well as the activities you have planned for your dream holiday. The summer months are ideal for catching some rays in the tourist hot spots of the Turkish Riviera. The weather in Dalaman and Antalya remains gorgeously balmy until late October. If, on the other hand, you’re planning to tour Turkey’s wealth of ancient sites, or go gallery-hopping and shopping in Istanbul, then it might be best to opt for a spring or early autumn holiday. Plan your trip to Turkey 2. Wander the ancient ruins of Aspendos and Perge RelatedWhere’s hot: the year-round holiday weather plannerLooking to escape the icy clutches of British weather? In search of warmer, sunnier climes? Well look no further. We’ve put together a handy guide to which countries are hot during different months of the year, so you can enjoy that holiday in the sun at any time of year.…9 best value holiday destinations 2017Fancy a pint for 60p? Hotel for £3? We bring you ten amazing value destinations for 2016, plus the best places to go and beaches to hit when you get there.Holiday destinations and inspiration: Travel guides for 2017Looking for holiday inspiration? Whether it’s Alicante or New York, a beach holiday or city break that you’re planning, here are some of the best holiday destinations in the world, with in-depth travel guides to help you pick the perfect escape. One of Istanbul’s most popular tourist attractions, the Grand Bazaar (Kapalıçarşı) has a rich history that stretches back over 5 centuries. Goods on sale in the 4400 shops under its vaulted ceilings include handcrafted shawls, ceramics, lamps and jewellery. They are not always authentic, or fairly priced, but haggling here is half the fun. If anything, it offers a great chance to chat with the local traders. And if you can bargain like a pro you’ll walk away with a handful of cheap and colourful treasures. Looking for more travel inspo? Read on… Sign up to our newsletter for more destination guides, flight deals and travel tips Hire a car in Antalya With cheap direct flights from 13 UK airports, Dalaman is one of the top destinations for a budget holiday in Turkey. Here landscapes of exquisite beauty meet enigmatic ancient landmarks and a bustling nightlife. As Dalaman’s most popular tourist attractions in Fethiye and Marmaris get really busy at the height of summer, it’s worth considering a mid-autumn holiday to take advantage of the cheap flight and hotel deals. And, to top it all off, you’ll have the area’s unspoilt beaches all to yourself! Consider hiring a car to explore Dalaman’s spellbinding scenery at your own pace – it’s the best way to see Turkey on a budget (prices start at £27 in July). About 45km from the centre of Fethiye lies the 20km-long Saklikent Gorge, otherwise known as the Hidden City. An easy stroll along the boardwalk offers astounding views of the canyon. However, there’s nothing more fun than dipping your feet in the cold water and following the adventurous path away from the crowds. The towering limestone cliffs are a sight to behold.last_img read more