Mortgage refis and a wild rate environment

Mortgage refinance requests are coming in at record rates. This type of volume was already causing significant backlogs for some. The complexity just increased now that many businesses are practicing social distancing and the Fed took more emergency steps on Sunday, March 15.

The questions in this blog only scratch the surface of what needs to be considered and thought through with respect to mortgage refis.

• What is our capacity to deliver an excellent experience through the whole mortgage process for loans we start tomorrow, factoring in loans currently in process, social distancing and working remotely?
• If we anticipate more total demand than we can satisfy well, what options do we have?

 

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