Leading Mortgage Banks
Press Release - January 2006
| Visionet
Systems Inc. 3 Cedarbrook Drive Cranbury, NJ 08512 Phone 609.452.0700 Fax 609.655.5232 clifford.johnson@visionetsystems.com Contact: Arshad Masood Phone: 609.452.0700 x1119 arshad@visionetsystems.com |
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Do you know? what Leading Mortgage Banks are doing?
Leading Mortgage Bankers and other lenders are targeting borrowers who have adjustable-rate loans with offers to refinance into fixed-rate products. The use of statement inserts, direct-mail solicitations, phone calls, internal data to identify potential candidates and referrals from real estate brokers and builders comes at a time when short-term interest rates are rising faster than long-term rates. Moreover, industry observers such as Amy Crews Cutts, deputy chief economist at Freddie Mac, describe the move as a last-ditch effort to boost mortgage business as loan volume continues to decline and as competition increases. At the same time, many experts expect the Federal Reserve to begin to pull back on raising short-term interest rates to keep the economy from growing too fast. Mortgage Bankers Association chief economist Doug Duncan says borrowers have some time to mull over a refinancing decision, especially if there is a slowdown in economic growth and the Fed begins to lower rates in mid- to late 2007.
Visionet Systems is an employee owned company offering high-tech software solutions, best practices consulting and business process outsourcing (BPO). We offer a variety of products, systems and frameworks that employ state of the art expertise in areas where effective technology solutions do not exist. Visionet excels in developing workflow and rules driven solutions that allow utilization of existing legacy system data and processing. Working with many of the top twenty mortgage banks, our offerings are engineered with built-in task based tracking and work distribution management, being successfully utilized to manage critical mortgage processes such as Post Closing & Loan Boarding Audits (VisiLoanReview®), Lien Release & Mortgage Assignments (VisiRelease®), and Escrow Setup (VisiEscrow®).
For more information, visit www.visionetsystems.com
Visionet Systems Inc.
www.visionetsystems.com
3 Cedarbrook Drive
Cranbury, NJ 08512
Phone 609.452.0700
Fax 609.655.5232
clifford.johnson@visionetsystems.com
Contact:
Arshad Masood
Visionet Systems Inc.
609-452-0700 Ext. 1119
arshad@visionetsystems.com
Joy Harper
Visionet Systems Public Relations
(678) 799-8118
