The current economy is one where consumers have it easier than ever when they want to research new products and services, and consequently, they’re more likely to jump between them. That makes mortgage customer retention more crucial than ever before. For every customer your lending business loses, you might need three new ones to recoup the value you once had. In the mortgage industry, customer retention is uniquely challenging. Why Customer Retention Is Challenging Over two-thirds of marketers report that their retention marketing is average on a good day, and most know that the choices cons ..read more

In today’s digital age, the role of information technology (IT) professionals is indispensable across organizations of all sizes. Tasked with the maintenance and safeguarding of computer systems, software applications, and cloud-based platforms, these experts serve as the backbone of modern businesses, ensuring seamless operations even in the face of technological glitches. However, with the critical nature of their responsibilities, how can businesses ensure they’re selecting the right IT personnel? One essential practice is implementing thorough background checks. Establishing Trust in Your ..read more

Following the release of the Q1 2024 Mortgage Trends, much information vital to lenders has been revealed. Although the forecast itself has been described as less than favorable, it’s not all bad news. Here are a few positive takeaways and facts that can be gleaned from the report. Knowing Your Target Industries First, the demand for industrial space is on the rise. Warehouses are particularly in demand and with retailer inventory scheduled to reach record levels this year, industrial clients offer promising ROI. Next, hotels and other tourism-based industries have returned to pre-pandemic l ..read more

One of the most important things that any organization can do is ensure that those who are working there have accurately presented themselves – i.e. they are who they say they are. This can be done through information gathering and identity verification. What is the difference between these terms? Information Gathering Information gathering consists of gathering identification documents and information related to an individual. Examples can include their full name, date of birth, address, Social Security number, driver’s license and number, identification card and number and passport document ..read more

Tax returns do more than provide a paper trail for individuals and businesses to prove to states and the federal government that they met their financial obligations. A request for verified IRS tax return transcripts is one of the best ways for lenders (i.e., banks, credit unions, mortgage firms and other financial institutions) to confirm a potential borrower’s overall income and financial history and ability to repay one or more loans. Whether someone needs a new mortgage agreement, car financing or a personal loan, there’s no better way of checking their critical financial details. IRS Requ ..read more

When you’re hiring caregivers, it’s important to pick reliable people who will treat patients fairly and not put their safety at risk. The right background check helps you be confident that you’re getting the best employees. Are Caregiver Background Checks Required? There are no federal laws requiring healthcare companies to perform background checks on candidates. However, states such as California, Wisconsin, and Massachusetts require a check for every caregiver before you hire them. Certain licensing organizations also require background checks. Furthermore, a background check for a caregi ..read more

Lending is a complicated business. By law, it takes time. In reality, the checks, balances, and safeguards in the process protect everyone, borrowers and lenders alike. Still, as one loan company CEO put it, borrowers want to know how long the application process will be and how quickly they can get their money after approval. Those are reasonable questions that you, as lending companies, will have to answer. Ways to Increase the Speed of the Lending Process Particularly with the advent of AI, the best way to streamline the lending process is to automate as much of it as possible. If the pape ..read more

Employers need to know if potential or current workers have any red flags in their backgrounds that might make them unfit for some reason and ineligible for employment with a specific company or to perform one or more job-related tasks. This is especially true for those seeking employment in the transportation sector where safety is of the utmost importance. The U.S. Department of Transportation requires that employers conduct background checks on workers responsible for driving commercial motor vehicles within 30 days after an offer of employment, the hire of a new employee, or a change of ro ..read more

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