Influence of it in Mortgage Industry

There is every reason to cherish when you have the best deal to meet your ultimate wish. The very promise of a dream home, a car or anything of your own at ultra –low rates and payments any one can afford is no less than a milestone achieve. For the Mortgage Industry it’s a challenge that transcends all impossibilities in providing you with that sweetest wish of life. However, in doing so Mortgage Service Providers have to deal with many critical processes. They have to face all the trial and tribulations against the ever fluctuating interest rates that determine both the profitable highs and wrenching lows of mortgage market. Important factors like high turn around time, loss of critical documents during transit, poor monitoring and lead tracking system have contributed to the downfalls of many big lenders in this business. Add to the woes the increased competition, change in methods of acquisition and funding etc, can keep a mortgage company really struggling behind.

But with the Technology boom-over, there comes an array of software solutions to fight these shortfalls in the mortgage marketplace. Whether it’s to speed up loan processing time, to track leads, control frauds, or stand alone/ enterprise solutions to look after the entire mortgage product life cycle system, you have all kinds of IT solutions to suite your specific needs and pocket. Mortgage companies that had already capitalize on IT power are witnessing tremendous growth in business today. They are the market leaders and continuously expanding their influences with ever-increasing customer volumes.

There exists a long list of software firms that offer top of the line mortgage solutions for those who want to acquire, retain and service customers satisfactorily and profitably. To get a better picture of the level of services and products an IT firm can afford to a prospective mortgage service partner, I suggest you to consider reading the case study of a firm with deep expertise in mortgage product development and maintenance as I know….

Case Studies:

Service Provider: Root Info Solutions (www.rootinfosol.com)

Client: Dashboard

Dashboard: Client is a leading UK based IT solutions provider in the Mortgage market. Dashboard offers a highly flexible, user configurable, powerful workflow/ business processing engine, which is 100 per cent web based and which covers complete client and product life cycle from lead through to Completion, reducing paperwork and re-keying, thus saving time.

Project Requirements: The project idea is to manage Dashboard’s functionalities with robust production-worthy software development and maintenance solutions.

Project Role & Responsibilities: Our contributions include Design the architecture for Applications with through understanding of Industry requirements, integrate/Map new systems available, understand markets inputs and mapping into software requirements. In short manage the entire life cycle of development, be part of development, and guiding the team through.

Technologies Used: Web Applications

Platforms: LINUX

Languages: PHP-5, VC++, Visual Basic, MySQL-5, AJAX, XML

Efforts: Continuing