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Asynchronous Awesomeness: The Epic Might of Component-Based Mortgage Tech Stacks!

If the boom of 2020 taught us anything, it’s that we need to build a better tech stack. We learned that one size can’t fit all, legacy systems can’t keep up, and that expertise can’t be robotized. (If only we could lessen the sway of buzz words – a topic for another post.) Looking to other industries that manage multiphase processes, we noticed a trend that enabled asynchronous capabilities: the component tech stack. Let’s explore why a component tech stack is better suited for a loan manufacturing infrastructure.

Never Overpay

End-to-end systems are rigid, and charge for services you don’t need. For example, when you receive an income waiver and don’t require income calculation, an end-to-end system has the fee for that service baked-in, forcing you pay for something you don’t need. That’s like paying for the entire buffet when all you want is a muffin. Rapidio’s FlexStack Components empower your team to choose – and pay for – only those services needed.

Loan Level Cost Control

Components allow your team to use only the tech needed based on your staff levels, the scenario, and exceptions to keep margins intact. This is what allows your team to scale during seasonal or rate-driven markets.

Modular Development

One of the key advantages of a component tech stack is its modular nature. Loan manufacturing involves various interconnected processes; income calculation, credit analysis, property valuation, title, and so on. A component stack allows each of these processes to be conducted asynchronously. This modular design allows for flexibility, scalability, and easier maintenance. Any changes or updates can be made to specific components without disrupting the entire system, reducing development time and minimizing risks.

Another benefit is you can build to suit without months (or years) of customization, which equates to tens of thousands in development cost savings and makes time to market faster.

Scalability & Flexibility

Loan manufacturing infrastructures need to be scalable to handle fluctuating loan volumes efficiently. With a component-based tech stack, scalability becomes more manageable. When the market is in, use the components that help your team scale. This dynamic scalability ensures optimal performance and eliminates the need for hiring resources.

Maintenance & Upgrades

Maintaining and upgrading the typical tech stack can be expensive and time-consuming, particularly when stringing together technologies from a variety of vendors. However, a component-based tech stack removes this hassle. Since components are independent by design, fixing bugs or adding new components is not cumbersome. Upgrades can be performed on specific components without affecting the entire system.

Future-Proofing & Adaptability

A component tech stack is inherently adaptable to change. By incorporating modular components, you can future-proof their systems. This adaptability enables you to readily adopt the next new technology breakthroughs as they emerge ensuring that your stack is ahead of industry trends.

The Pitch

Contact us to learn more about our current offering, and how you can enable margin control and the loan level. Or, read more about our FlexStack Components here.