For this week’s episode of the Lending Leaders Podcast, Alayna Gardner chats with Lynnette Nuese, Director of Sales at Constellation Mortgage Solutions, about how lenders and vendors can work together to improve the loan origination process and ace tech implementation.

Changes in Tech

Lynnette has worked on both sides of the lender/vendor divide. She’s currently with Constellation Mortgage Solutions, helping lenders save time and money by automating processes and improving workflows. In her opinion, the biggest change in mortgage tech is the speed at which loans get manufactured. Tech companies are both setting and chasing lender expectations regarding how quickly a given piece of technology can help them close more files faster.

Implementation Challenges

Implementation is everything. You can’t benefit from tech that you A) haven’t set up, B) don’t know how to use, or C) haven’t implemented across your team. As a former lender who nows works for Constellation, Lynnette believes lenders make three common mistakes when it comes to implementing new tech or systems:

1. Not asking enough questions about the time it will take. This is mainly a problem of setting expectations. When you invest in something like a new LOS, you need to have a firm grasp on the time it will take the vendor to get your team set up.
2. Not understanding the timing on their side. Setup takes lenders and vendors working together. That means lenders—who spend their whole day doing a job that ISN’T setting up LOS products—need to budget time every week to do their part in setting up and learning new systems.
3. Not asking enough questions about logistics of setup. Successful implementations require that users understand, not only how to use the new system(s), but also how that system will integrate with and affect their existing systems and workflows. And this is not just about IT savvy. This is about a comprehensive knowledge of how the new system and its setup will integrate with the loan origination process and the mortgage industry as a whole.

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