Jan./Feb. 2024 Issue

Editor’s Note: New STRATMOR Program Addresses Gap Between Lender Needs And Vendor Solutions

In STRATMOR Group’s February Insights Report, Senior Advisor Sue Woodard compares the miscommunication often seen between mortgage lenders and their technology partners to couples in need of marriage counseling. In her article, Woodard takes on the role of “therapist” to help both lenders and vendors unpack the key areas of concern and provides suggestions from STRATMOR’s experts for both parties.

“I’ve observed for a while the massive disconnect often seen between mortgage lenders and their technology partners, despite good intent from each party, and desire for a mutually beneficial outcome, says Woodard. “And much like real-life relationships, some are staying in the partnership purely due to a contractual commitment made, but they aren’t exactly happy.”

In response, STRATMOR last year launched its Solution Provider Advisory (SPA) program, which helps technology partners hear, understand and better respond to the needs of mortgage lenders.

“When we saw how the disconnect between lenders and vendors was hurting the success of both parties, we developed the SPA program to bridge the gap between evolving lender needs and expectations and vendors with the capacity to meet them,” says STRATMOR Senior Partner and CEO Lisa Springer.