Those who turn to outsourcing as a survival strategy now will soon come to view it as an ongoing best practice.
DENVER (PRWEB) July 30, 2008
The corrected release reads:
TITAN LENDERS CORP SIGNS FOUR FOR BACK OFFICE OUTSOURCING IN Q2
Mortgage Lenders Seek Variable Costs, Reliable Compliance, Quality Assurance and Speed to Market
Titan Lenders Corp, a mortgage back office fulfillment services provider specializing in closing, funding, and post closing services signed four customer contracts in the second quarter 2008. The firm's Q2 contracts are located in Florida, North Carolina, New Jersey and Oregon.
Titan Lenders Corp is a domestic outsource variable cost solution alternative for mortgage bankers, brokers and investors seeking to reduce risk, errors and overhead in their mortgage operations, while remaining responsive to fluctuations in their loan closing pipeline. Titan's processes are built upon a proven back-office service model, extensive industry experience, and customized solutions. Comprised of U.S. mortgage industry veterans, Titan's staff is qualified to ensure that compliance requirements are never compromised.
North Florida-based Beach Community Mortgage, originating government products including VA, conventional, FHA and USDA Rural Housing loans, is outsourcing for the first time since starting business in 2005 in response to market pressure.
"In the face of thinning margins, outsourcing some of our mortgage fulfillment operations is common sense," said Beach Community Mortgage president Michael Tano. "Any area that can be managed as a variable rather than fixed cost is an opportunity for improved profitability and efficiency."
According to Tano, outsourcing time intensive operations that demand specific expertise allows Beach Community Mortgage to operate with a leaner staff focusing on quality customer service to its borrowers and originators.
Recent broker-to-banker Oregon-based Western Mortgage Bankers wants to focus its resources primarily on marketing and originations, while embracing variable cost operational alternatives whenever possible. Western is licensed to lend in Oregon and currently offers FHA, FHA 203K, VA, conventional, and reverse mortgages.
"Brokers becoming bankers run the risk of getting mired in operational details instead of focusing on growth through relationships and marketing," said Western Mortgage Bankers president Mark Peterson. "By outsourcing our fulfillment operation to Titan Lenders Corp, Western Mortgage can count on worry-free processes, superior technology and competence, allowing us to operate efficiently and confidently regardless of volume."
Northeast Residential Mortgage, a New Jersey broker-to-banker offering conventional, FHA, and limited Alt-A products has been a licensed mortgage banker since October 2007 as a pre-emptive measure for yield spread premium (YSP) disclosure and in anticipation of a resurgent market.
"Outsourcing is an effective way for smaller bankers to prepare for the inevitable recovery," said Northeast founder and president Jeffrey Schlott. "Our warehouse lender, Texas Capital, pointed us to some providers and through the vetting process we came to the conclusion that Titan would be an ideal provider."
According to Schlott, he expects to learn more about mortgage back office and fulfillment processes from Titan's experts, "letting them handle what they do best," while Northeast sets its sights on preparing for the turnaround.
"The mortgage industry is being defined by lenders that adapt to change," said Titan Lenders Corp founder and president Mary Kladde. "Those who turn to outsourcing as a survival strategy now will soon come to view it as an ongoing best practice."
About Titan Lenders Corp
Founded in 2007 by acknowledged industry expert Mary Kladde, Titan Lenders Corp is a mortgage back office outsource services provider. Titan enables mortgage bankers, brokers and investors to decrease risk, increase closing capacity, reduce errors and protect loan profitability by outsourcing process-intensive back office functions while focusing on productive origination strategies. For more information about Titan Lenders Corp, contact Mary Kladde at firstname.lastname@example.org.