After spending months designing and developing your website, it can become difficult to recognize when it needs to be updated. The fact of the matter is, certain items in the mortgage industry don’t stay relevant for long. Especially in a world where technology is always advancing, it’s important to keep your website up to date, ensuring that it remains compliant, easy to use, and convenient for the borrower. Your website is the virtual face of the loan officer and mortgage lender at hand, and in many cases, is the first interaction a borrower has with the mortgage company. With that being said, a website should always be a successful lender’s top priority.
Your Website Is Not ADA Compliant
In 2018, there were 25 million people in the US who were visually impaired, and that number is only growing. However, some companies feel like they do not have to worry about following ADA compliant guidelines. While there are no clear cut guidelines that explain what compliant web content is, businesses are required to develop a website that offers “reasonable accessibility” to people with disabilities. Due to this, it’s crucial that mortgage companies outsource their website to mortgage technology professionals who are trained in developing compliant content online. Even big businesses such as Amazon, Netflix, and Nike have all violated ADA compliance website regulations in the past and ultimately had lawsuits filed against them. Therefore, it is easier to follow the rules and play it safe, rather than take such a big risk.
Your Website Isn’t Mobile Responsive
With smartphones being so prominent in 2020, some people don’t even bother having a computer in their home. In fact, according to Stone Temple, 63% of users visit websites from a mobile device rather than a desktop. This conclusion is based on an online study in 2017 of 2 trillion visits. The entirety of every mortgage company’s website should be transferable to a smartphone so that every type of borrower can easily access it. If the content on your site does not transfer easily onto a mobile device then it is probably time for some updating. Overall, they should be able to find the information they’re looking for and apply for their mortgage without leaving their couch. You can even check to see if your website is mobile friendly by entering your URL into Google’s mobile-friendly testing site.
You Don’t Have Quick Accessibility
There is no surprise that today’s borrowers are completing their mortgages online. Users today want something that is quick, easy, and to the point which is why they will go elsewhere for their information if they can’t find it right away. Americans today live very busy lives, and are on the go more than ever before. In the same sense, if a website takes more than a few seconds to load, they will leave. This is why it's important to pay attention to items such as a website’s abandonment rates. If a website is running too slow, or is difficult to navigate, most borrowers will completely abandon it and pursue another site.
To conclude, a mortgage company’s website should be reevaluated fairly often in order to stay up to date and refreshed in the mortgage technology space. Since a lender’s website is typically the initial face of their mortgage company, it should be appealing, compliant, and easy to use for all borrowers.
Kelcey Brown is the chief strategy officer at WebMax, responsible for developing, communicating, executing, and sustaining strategic initiatives. He acts as a key advisor to president on critical changes in the competitive landscape, internal employee development and the external business environment while also ensuring that appropriate metrics are in place to measure performance and progress towards strategic goals. Brown is also accountable for spearheading the success of our clients by developing and managing product training and growth initiatives.