Where Are You on the Digital Mortgage Journey?
By Bill Dolan, CMB, AMP
The digital revolution we are currently experiencing has not only changed our lives but the expectations of consumers everywhere. Borrowers are expecting a seamless and engaging experience which places pressure on lenders today when it comes to streamlining their mortgage requirements, while enhancing the mortgagor’s experience. This experience which must be rapid, efficient and most of all error-free, resulting in a preference for an entirely online mortgage application process.
To remain competitive within your footprint, you as a lender must provide total service differentiation. Adoption of the digital mortgage is therefore mandatory if you want to remain both relevant and aggressive for increased market share.
Your borrowers today are looking for a mortgage process without limitations that pigeon-hole them to business hours only. As a financial institution you offer banking availability 24/7 in other areas of your bank or credit union so why not the mortgage area? Why can’t your borrowers begin the mortgage application process whenever they want to?
Technologies such as machine learning, data analytics, blockchain and digital content management to name just a few, are digitally transforming the mortgage industry to an extremely seamless experience, thereby reducing operational costs while increasing profitability and efficiency. Where are you on this digital journey? Not sure where or how to begin?
Let SCA help guide you through the digital mortgage process model by allowing us to first analyze your mortgage operating environment and address your borrower expectations. Providing a mortgage manufacturing assessment will allow our residential mortgage technology consultants to focus on both workflow and systems (POS, LOS & PPE) allowing them to collaborate and support your organization in making a smooth transition into the mortgage digitization world that you need to be in TODAY!
For a free consultation, please contact Bill Dolan at (617) 694-2617.
