US SaaS Mortgage Software Market expected to increase due to growth in network effect

Published Date : May 02, 2017

ALBANY, New York, May 2, 2017 - has added a new research report to its repertoire on the software as a service markets. The latest report discusses the possibilities and factors of influence in the SaaS mortgage scenario, and is titled “The US SaaS Mortgage Software Market: Size, Trends & Forecasts (2017-2021).” It is an exhaustive explanation of the U.S. SaaS mortgage market and its opportunity pool, while providing readers with an insight on the key shareholders of the market. The report additionally comprises an evaluation of the market’s overall non-personnel expenses and production expenses per loan.

According to the report, the U.S. SaaS mortgage software market is likely to expand at a significant CAGR from 2017 to 2021. The market is probable to show a growth phase due to increase in employment levels in the U.S. and the further developments in network effect. However, the market faces a few challenges such as the risks associated with SaaS offerings, a growing need for data security, compliance regulations.

The report provides a segmented reports of the U.S. SaaS mortgage software market on the basis of its two types or loan servicing software: the in-house/on-premise servers and cloud based servers. As per the data given, the cloud-based software are available on the server owned by the host company, and software and the server are managed in a single location. The data and the software both are located on cloud. The data is accessible from anywhere to the mortgage lender.

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Loan servicing software are aimed at helping wholesale lenders, banks, specialty lenders, and commercial financers to manage entire loans, contracts, notes, deeds of trust mortgages, and some contracts and clients. One of reasons for the need for these software is the mortgage origination process has slightly changed over time. The penetration of technology into mortgage institutions is considered of high significance. Loan servicing software automates the loan decisions and plays a vital role in snowballing towards service satisfaction. The mortgage SaaS software therefore enables the clienteles to apply a seamless workflow through point-of-sale, underwriting, processing, post-closing, closing and funding, delivery, shipping, and CRM requirements.

Any collateral that becomes a remainder while initiating loans real estate or property is known as mortgage. The mortgage lenders or banks loan around 80% of the total price of home that the borrower is required to pay back with interest over a set period. Failure to pay the loan back allows the lender to take the mortgage through foreclosure.

The key players covered in the report are Wipro, Accenture, Black Knight Financial Services, Inc., and Ellie Mae, Inc. For each player, the report provides an updated profile that includes their financial data as well as overall business strategies as executed.

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