As rates remain low and volume high, I'm starting to question whether independent mortgage bankers should be weary of the "Robo." In this case, it's not the Robo-signer but it may be the Robo-processor or closer, post-closer, even secondary analyst. With so many departments running at max capacity, many managers and owners are looking for coverage and help in numerous areas of their firm. I'm not saying bankers are out collecting resumes from your nearest Supercuts or Walmart (I sure hope not!!!) but the term "Robo" really refers to anyone who simply goes through the motions without REALLY understanding what they're doing and what the consequences may be. Unfortunately I think just about every firm out there in loan land has some Robo's of their very own.
In busy times, hiring, and re-allocating staff is a necessity. Training is key, but too often people are thrown in for some "on-the-job" training. How many of these people turn in to "Robo's?" It's self inflicted pain here - how sad.
Regardless of the department, it's extremely important to ensure each department is not just staffed with enough bodies, but the right bodies!!!
Whether it's clear and intentional, like the servicers were with their "foreclosure experts" or unintentional when bankers are trying to handle spikes in volume, the Robo-anything is just as dangerous.
Be careful, and oh yeah - where's Robo-Cop when you need him?