MBA Annual 23: Tech play for mortgage CIOs to navigate the current high interest regime

Mortgage Banker Association’s flagship event - MBA Annual 23, is just around the corner and it seems to be strumming the chords, right.

Why do I say so ?

It’s because of the three key areas it touches, in the ‘automation & digitization’ segment, which are - maximizing ROI of existing tech stack, AI in lending and latest digital solutions.

These topics don’t just tie into one another but also roll up into an overarching industry wide question - how do lenders & servicers make the most of what they have in the current market scenario ?

As per various industry forecasts, it’s predicted that the high rate regime, in the range of 6.5% - 7.5% 30-year FRM rates, will most likely continue through the end of 2023.?

In addition to the already stifled housing inventory situation - this would mean a muted purchase market & low production volumes could further exacerbate margin pressure for mortgage companies.

In such situations, how should CIOs & business leaders leverage technology to unlock value & efficiency so as to ride through the storm ?

The three tech thematic pillars of MBA Annual 23 - Maximizing Tech ROI, AI in lending and upcoming digital solutions - could act as a roadmap for CIOs to steer their ships better.

For example - the session hosted by Blend on “Making the most of your tech stack” - intends to? explain different methods of evaluating the performance of your existing technology stack against current business processes & outcomes.?

The focus here is to offer a framework that could help CIOs unearth value maximizing opportunities while improving adoption of existing technologies, rather than onboarding new ones.?

While this plays well to organizations that already have achieved a high degree of digitization both across customer facing & back office operations - it still leaves out a suitable response plan to the influence of AI in mortgage.

This is where the tech track on “AI in lending” attempts to deconstruct the pros & cons of implementing the latest Generative AI capabilities in loan production & servicing.?

This session intends to provide a comprehensive coverage of different generative AI models & tailored applications across areas such as borrower communication, risk assessment, fraud detection etc. At Vaultedge, we have been building our own Generative AI solution that works just like ChatGPT but customized to your own enterprise document system & loan files.

However, the tool set of CIOs should not be limited to just existing tech stack or Generative AI. It should scan a broader solutioning landscape to spot what’s upcoming & relevant to current business realities.?

MBA Annual’s tech track on “The Latest in Digital Solutions” aims to spotlight a range of digitization opportunities from eNotes through automated verifications to digital wallets. Under this single umbrella theme, the session will cover new opportunities to reduce cost of lending & improve overall borrower experience.

We may be a little biased towards these three sessions at MBA Annual - as they resonate closely with the work we do at Vaultedge.?

Over the past few years, we have worked with industry leaders like Ocwen PHH & BSI Financial in automating manual processes around document indexing & data extraction.?

In the process we have been able to deliver not just significant time & cost savings but also build a lifelong trust - something we’re super proud of.

Ofcourse, by now you would have figured that I’ll be attending the MBA Annual 23 at Philly between Oct 15th to Oct 18th.?

If you’re at the event, let’s meet for coffee & see if there are areas that we could jointly work on.?

See you in Philly, then !