A Tale of Two Processes

In the past, the process of buying a home was remarkably simple, and made a lot of sense for the type of world we lived in. In that world, a homebuyer worked with their local real estate agent, bank and title company, and knew them as they were part of their community and daily lives. Things became more complex and less personal as home buying grew beyond local boundaries and technology exponentially advanced, but the process didn't really change. Today, the industry is left with a process that is unfit to efficiently perform the activities and obligations involved with buying a home.

Enter Pavaso.  Our vision of a new process is one that utilizes technology to improve efficiency, accuracy, communication and collaboration. It's not meant to replace people.  Rather, it's meant to help them overcome the challenges of today's marketplace.  In a time when TRID has complicated the entire industry further, a new process that can simplify the transaction and can be easily implemented within a business is the key to so many of the issues you're facing and have yet to encounter.

Our latest white paper analyzes the industry’s current business processes, the issues facing businesses today, and how to transform these issues into competitive advantages. Dive into more detail on how to bridge the gap between the old and new world and set your business up for success in this white paper available for download here. 

Stop and Shift Your Thinking 1 Degree

With all of the change within the industry, businesses are now facing new issues never before experienced that need solving. Without a solution, your business has no way to align with the new rules set by the CFPB. No consumer focus, no compliance, no revenue. After all, if you decide to change nothing in your business, you might as well hand over your clients to your competitors who will. But with so many issues to take into account, how can your business cover all of your needs without paying for multiple spot solutions? All it takes is a simple change in mindset.

In this video straight from the desk of Pavaso CEO, Mark explains how shifting your thinking 1 degree can allow you to view your situation in a new way and discover that all of your issues can be solved in one single location. Mark describes what makes Pavaso’s platform so powerful, and why this change is necessary to your business’ survival.

I Can't Believe They Did That

We’ve discussed previously that technology should be seen as investment. However, because some businesses aren’t sure how to evaluate and strategically select a technology, many simply look at the price tag. The cheapest option is the best option, right? With the amount of change coming to this industry, your business needs a technology that has the ability to customize to you, and scale to any situation depending on circumstances, and evolve to continue to serve you and meet your needs in the future.

In this episode of Mark’s Minutes, Mark explains why he is concerned when potential customers make decisions based solely on price. He guides you through what expectations you should have for technology and reveals his warning and suggestion on how to evaluate its full long term value, instead of the short term costs.

Extended Benefits Beyond the Closing

There are a variety of tech companies out there that can each provide different benefits pre-closing and some throughout the closing process. However, what value can they add for both you and the consumer after the closing is complete? Are there long term benefits to using their platform? We’ve previously talked about how keeping consumers engaged post-closing can be useful for your business and continue your relationship with the consumer for future marketing purposes. But how can we keep these consumers engaged? Provide them with added benefits and value.  

In this episode of Mark’s Minutes, Mark explains what makes Pavaso different in the value it provides before, during and after the closing for not just your business, but the consumer as well. Mark describes a few of Pavaso’s current solutions created to continue engagement with consumers beyond the closing and throughout their homeownership lifecycle.

My Personal Closing Experience

As we’ve talked before on the issue of closings within the real estate industry and how to best deal with them, the process of buying a home still sucks for a consumer. The papers, the legal jargon, the waiting, and the confusion all lead to dissatisfaction and frustration for the consumer. Does this experience for the consumer impact your business in any way? You’ve been doing it the same for years and no one’s complaints seem to change anything. However, now with the CFPB on the lookout for non-compliance and the availability of a consumer complaint portal, your reputation may now be at risk.

In this episode of Mark’s Minutes, Mark briefly describes his personal experience on his recent home closing, and why consumers are upset. He then continues to walk you through the ideal home closing for a consumer, which can be offered by your business today. Pavaso’s solutions protect your business’ reputation and offer consumers a world class experience that allows you to stand out beyond your competitors.

Not All Tech Companies Are Created Equal

With technology flooding almost every industry, the time to incorporate it into your business model is now. So where do you start? Begin by seeing what companies are out there with the technology you need and evaluate them on levels of stability and capability. However, throughout this search process, with new tech companies popping up all the time, it can be hard to differentiate from the outside which tech companies are stable and which are full of pitfalls.

In this episode of Mark’s Minutes, Mark describes the three key qualities you should require of any company whose technology you’re interested in using. With his 30+ years of experience, he also walks you through how to distinguish a stable and proficient tech company from those who can’t provide your business the capability that it needs.

Evolving Mortgage Backed Securities

Investors are an essential part of the mortgage industry, specifically their involvement with residential and commercial mortgage backed securities. Wall Street lost around $2.5 trillion worth of mortgage backed securities in 2008 with the mortgage crisis, and although the housing market has since bounced back, investors just don’t have a secure place to put their money. So how do we bring Wall Street back into the mortgage industry and create a solid foundation for reestablished mortgage backed securities?

In this episode of Mark’s Minutes, Mark reveals Pavaso’s vision for the evolution of mortgage backed securities, and how Pavaso’s mortgage scoring system fits into this future of mortgage investing. He also explains the various ways the industry can bring private money back into the mortgage industry by reinventing the mortgage backed securities model.