Exceeding Borrower Expectations As the landscape of borrowers’ profile changes where millennials are becoming prominent in the home buying process, lenders must differentiate themselves on quality, speed, and innovation to match the expectations of this generation of home buyers. Lenders that fail to do so will be quickly left behind. Statistics show that 99% of millennials are going online to search for homes and 58% of them found a home online. The importance of borrower engagement Borrower engagement is quickly becoming a key differentiator for lenders. Intangible products like mortgages rely almost entirely......
Consumer lending is a highly competitive industry that requires consistently efficient operations to maintain a healthy bottom line. This post describes how lenders can leverage digital technologies to improve their efficiencies and achieve economies of scale. The Digital Borrower Experience In a nutshell, digital technologies improve efficiency by providing...Continue Reading
The mortgage closing cycle involves quite a bit of back-and-forth between the lender, various service providers, and the borrower. Because of the increasing complexity of the loan servicing landscape, title companies sometimes spend as much time waiting for responses from other parties as they do actually processing documents. It’s...Continue Reading
We all know that the mortgage industry is dominated by relatively small technology firms and there is no “Google of Mortgage” today. The traditional LOS developers largely repurpose and reskin their legacy, cash cow applications in an attempt to retain market share and remain compliant. There are some bit...Continue Reading