Summary
Mode of operation in today's mortgage industry
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Extract
An operational redesign.
The financial services industry is evolving at dizzying pace. Driven by computer and communications technology, as well as regulatory, legal and economic pressures, what once was a monolith is quickly becoming segmented. There has been a transformation of old "duties" into new products. Indeed, the monolithic thinking that once characterized the industry has correspondingly become "niche" thinking.
Within this sea of flux, the retail mortgage industry may seem like an island of stability. The reality is that even the mortgage industry is feeling the pressure, and those firms that continue to operate with a business-asusual mentality have become more and more vulnerable to market fluctuations, regulatory changes and competition. The mortgage industry has resisted change because the day-today operations of the typical organization have already become too complex and segmented to be managed effective...See the full content of this document
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