Empowering Industry Professionals

Mortgage Cadence is a cloud-based digital lending platform designed to provide an exceptional user experience throughout the entire mortgage lending life cycle, across all channels and products. The platform enables lenders to work more efficiently, leveraging automation and workflow tools that deliver an excellent borrower, sales, and operational user experience.

MortgagePoint recently had a chance to chat with Mortgage Cadence’s EVP, Sales and Strategy Joe Camerieri, and EVP of Services Jim Rosen, to gain some insight on what lies ahead for the industry as tech continues to lead the mortgage marketplace into the next frontier.

As a mortgage industry leader, Camerieri, has more than 37 years of experience in consumer direct, outsourcing and retail mortgage banking. He has extensive knowledge of both operational and business development of the mortgage fulfillment segment, as well as in-depth knowledge of community bank, credit union, and consumer direct mortgage markets. He has executed, managed, and grown most of the top private labeled mortgage relationships in the industry today.

Camerieri operationally built and led a mortgage call center of 300 consultants in a multi-channel, inbound/outbound call environment. He is a seasoned business developer, with deep contacts in the industry, who provides a consultative approach to solving problems for his prospects and clients.

Rosen joined Mortgage Cadence in 2010 to build and grow the document generation and management offering at Mortgage Cadence. In 2014, Jim joined the Product Management team and brought his focus on automation, process efficiency and helping lenders find solutions to deliver mortgage loans to borrowers into to the product vision at Mortgage Cadence.

As EVP of Services, Rosen is leading Mortgage Cadence to focus on lending efficiency and cost reduction through our re-imagined MCP Platform, open and more functional API capabilities, and expanded integration opportunities. A native Coloradoan, he graduated from the University of Colorado at Denver and continues to call the Denver area his home.

What’s in store for the housing market as we enter 2024? What are some of the headwinds that the industry will be faced with in the coming year?
Joe Camerieri: The trends that have conspired to negatively impact the industry in 2022 and 2023 will continue into the new year. Despite that, there was a lot of positivity at the fall conferences. Lenders are ready for the challenges ahead and are dedicated to becoming even better at supporting home buyers in their pursuit of the American Dream. More inventory would help, but we’re already seeing housing prices in many markets coming down, making homeownership more affordable. The economy and job markets are still strong. The coming year won’t resemble 2020, but it might actually be better than 2023.

As artificial intelligence (AI) and machine learning (ML) continue to advance and evolve as everyday tools for the industry, will we ever be able to rely 100% on these tools or will the human touch always be a necessary part of the origination process?
Jim Rosen: The homebuying transaction is too large for the vast majority of consumers to enter into without professional guidance. A trusted financial advisor is always going to be part of the solution, but the skills required to serve in this role are changing, thanks to technology. With tools like AI chatbots, borrowers can get more information more easily and have fewer questions for their loan officers. When deployed for loan officers, lenders can ensure that answers to borrower questions are accurate and complete, even when provided by less experienced staff members. Our tools are getting better every day, but they will empower industry professionals, not replace them.

Are there any trends in technology you are witnessing being employed by the industry to streamline operations?
Joe Camerieri: We’re seeing lenders take steps to consolidate their tech stacks and shed tools that looked shiny when they invested but didn’t deliver as expected. Lenders want to do more with fewer platforms and at a lower overall cost. That’s not possible with the tech sprawl we’ve seen over the past few years. Lenders want to operate on a single tech stack that can serve every borrower, regardless of the mortgage that meets their specific needs. That’s the direction they’re moving.

Describe the future of the mortgage marketplace in one word.
Joe Camerieri: Improving.
Jim Rosen: Smarter.