What Customers Want

By: Bill Dolan, CMB, AMP

The challenge facing both mortgage lenders and servicers today is how to bridge the gap that exists between your current systems and platforms, along with the “ease of use” customer-centric systems and features that are the measure in other industries. Every one of us today can download a movie to our phone or tablet, order food and clothing online without ever making contact with a customer service, sales representative or cashier.

It is not about the ability to perform these tasks without influence or assistance of these individuals but to accomplish the delivery within a streamlined integrated process and platform. Disjointed processes will inevitably result in an ineffective delivery of your mortgage product that will no longer be acceptable as customer expectations continue to increase.

So, how do you make this transition? To bring the industry into a current digital environment, an understanding of your current state is required. Gaps will quickly be identified and an approach to digitize the process for mortgage lenders and servicers can be developed.

The borrower engagement approach for the majority of today’s lenders is fairly disparate and not truly “digital.” Lenders for the most part provide fragmented collaboration to solutions that rely heavily on call centers. The customer is able to initiate the mortgage application process through your online Point-of-Sale (POS) platform or interface, but in the majority of cases, document collection and additional borrower information is typically obtained through other channels such as MLOs, call contact, e-mail, portal connections, etc. Lenders like yourself will need to invest in digital offerings and technologies to improve the loan origination process and the customer experience.

To arrange a free consultation, please contact Bill Dolan at (617) 694-2617 or visit our website at www.scapartnering.com and simply complete the form and submit to us.