Over the decades, mortgage lending has been impervious to digitization. Typically, the industry has only transformed its technology and processes in reaction to seismic events and when change has become an inevitable necessity.
Today, borrowers demand quicker, more convenient service times, greater transparency and control, and more timely communication.
Many lenders digitized face-to-face processes in response to the pandemic, which cut costs, improved margins, and demonstrated that lenders are motivated to respond to borrowers’ changing needs. A prudent move, considering that the consumer appetite for digital mortgage experiences has skyrocketed post-pandemic.
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- Mortgage Lending Today: What the typical tech stack of a loan officer looks like
- Digital Disconnects: The problem with siloed working and poor customer journey
- Bridging the Gap: Cloud integration, shifting to intentional customer-centric designs, and digitization for better scalability
- Into the Future: What comes after full lending process digitization