Business Insights

Intelligent Automation: Your Best Defense in a Volatile Market

The first half of 2022 took the mortgage industry on a bumpy ride. Soaring inflation, rising interest rates, record low inventory, shrinking volumes – no wonder recession is on everyone’s lips and minds.

And now, as the fall season ramps up, market volatility is giving mortgage lenders even more to worry about, from the threat of loan buybacks to problems with making projections.

What’s keeping you up at night and why is intelligent automation the best investment you can make in your operations? We’ll answer that question in this blog post.

Stay Healthy in a Volatile Market

The volatility in the current market can render it nearly impossible to make projections – beyond today, that is. The key is to stabilize your operations and minimize risk as much as possible, and that means cost containment.

The Mortgage Automation Suite by Richey May and Zoral canlower your costs to originate, a very real benefit when volumes are down. You still face the reality of investors conditioning loans and trying to streamline loan sale and delivery. But automation gives you more flexibility.

At the same time, it helps you avoid making layoffs in response to market conditions, only to hire one-to-one when the market bounces back — a vicious cycle that continues to plague the industry. From a staffing perspective, the Mortgage Automation Suite is designed to create more stability and elasticity within your organization.

Along with cost efficiencies and stability, it can also improve accuracy and reduce repurchases. How? Because by automating your loan origination and back-office processes, you’ll see higher data accuracy and quality. And that lowers your risks, increases your cost savings, and gives you more options.

Improve Recruiting

Conventional wisdom says anything you can do now to make your mortgage company more attractive to potential recruits will pay dividends down the road. By increasing your efficiency, lowering your costs to serve and modernizing your tech stack, the Mortgage Automation Suite sets you up to succeed in any scenario or market and makes your company a more desirable place for people to work.

Automating to add value to your operations is an investment worth considering if you want to make your firm more attractive. It’s also something to think about if you’re looking at a merger.

Focus on the Bottom Line

In a volatile market, intelligent automation can help stabilize your operations, contain costs, reduce risks and enhance your recruiting appeal. If you’ve been waiting for the right time to invest in automation, this is it.

Read our series around all things intelligent automation to learn more about how the right intelligent automation platform, implemented correctly, can help streamline your operations and stay ahead of an ever-evolving market.