TCR Engineering Services
The retail mortgage business in the US has gone through a phase of tremendous flux. Retail mortgage lenders are currently in the process of consolidating their operations necessitated by large write-offs, regulatory pressures and changed market conditions. This paper looks at key challenges that US retail mortgage lenders face in revamping their origination operations, and initiatives that would help overcome these challenges. The state of the US residential mortgages business is a continuing reminder of the financial crisis. Inefficiencies such as slack appraisals, perfunctory checks, inefficient controls and unrealistic valuations, in the origination process have contributed to the existing state of affairs.