Transparency 

This is the most important of the 3-pronged, service overhaul. Total transparency is mandated. The customer knows everything, sees everything, can review everything, and this can be done anytime the customer wants. Credit reports, mortgage disclosures, appraisals, closing documents, settlement statements, etc., every document and disclosure at the cusomer's fingertips, 24 hours a day, 7 days a week. This new transparency will restore trust and develop a new standard by which customers should choose their lender and rid the industry its bad guys. I have met with some mortgage people who fear giving their customers information. That some how the customer, once armed with this information, will use it against them. The name of the new game is education, over-disclosure, and communication. This process can be automated with technology {I know a great product :)}. This will create true customer loyalty. Customers will even pay a higher margin for service like this -- it has been proven. To make the transaction transparent, accountability is paramount. 

Accountability 

This is the part a lot of industry professionals hesitate to implement; however, if implemented, will lead to a real, service revolution. All parties in the transaction, from borrower to insurance agent need to be held accountable for their fuction inside the process. This includes the quality of work and the amount of time to fulfill. When all parties can rely on the other parties to complete their function inside a defined criteria, the service experience becomes exponentially better. Quality, turntime, disclosure, education, and communication should all be part of the accoutability criteria. How do we know which vendors are performing at this level? Simple, LoanMarq makes certain everyone is held accountable to this standard.

Efficiency 

Efficiency is basically better work flow practices. It can only be elevated when every minute detail of the transaction works in unison toward the same goal. Inside a mortgage transaction, this means moving a loan from application to closing seamlessly, by collecting all the necessary documentation as easy as possible. A mortgage relies on many vendors working in chorus in order to complete the transaction. Making this process more streamlined and efficient has been the goal of mortgage professionals for years. The transaction needs to have standardized turn times. These turn times need to be guaranteed by all vendors and tracked to find which vendors perform consistently. Those that do, become part of your referral network. Increased efficiency will make sure that borrowers have time to review all documents and disclosures, become educated during the process, and avoid costly delays.    

Efficiency, backed by accountability, inside a transparent transaction, will lead to a service standard never seen before in the industry. We will create a community of professionals the market will recognize as leaders. Where customers will come because they know that the new standard has been developed to better serve them and their interests. This is not a dream, but a current reality when LoanMarq is implemented.