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Service Providers
Respondents were asked how they find real estate service providers such as title insurers, home inspectors and insurance agents. More than 60 percent of the respondents said that they search for service providers through referrals from associates and colleagues. Internet search engines are used by 43 percent, but these searches are backed by recommendations from their peers. An overwhelming majority of Title insurance companies were selected based on service. Just one respondent cited “technology” as the most important factor, and a small group cited “price.” Loan origination systems are used by almost all top producers. Ellie Mae’s Encompass and Calyx Point have the largest market shares among America’s biggest originators. NYLX and Optimal Blue are the most popular loan pricing engines, but several competitors also have substantial market shares. ACT! is the most popular customer relationship management system. The most-read trade publication among successful loan officers was Scotsman Guide. Also ranking high were Origination News, National Mortgage News and MortgageDaily.com. The association with the highest membership level among the survey participants was the Mortgage Bankers Association. Close behind was the NAMB. More respondents were members of state associations than either the MBA or the NAMB. |
