2017 — The Year of Mortgage Technology Integration

2017 — The Year of Mortgage Technology Integration

Over the last few years, mortgage technology has developed onto the scene with a rush of innovative operators looking to open up new opportunities in the industry. Because of this, lenders have resulted in niche specialization among advanced software companies in the mortgage industry, which has helped companies gain more leads and different approaches.

With the help of mortgage technology, loan officers, and their team can ensure that the systems they’re using are the best fit for themselves and their process. For example, LOS, the right CRM, the right customer-facing portal, eSignature and automation solutions have all helped loan officers and different departments in mortgage companies get the support they need to be successful in this industry.

Why are mortgage companies eager to integrate?

Technology in the mortgage business is constantly evolving. Still, the industry remains behind the technology curve. Since technology influences almost every part of the mortgage business, it’s important everyone is on the same page with up to date technology. Whether it is producing loans, communicating to customers, or marketing products and services, technology is essential in performing tasks that enable a company to operate successfully.

The Payoff

Although businesses may be reluctant to invest – as an end-to-end loan-processing solution – the long-term payoff may be worth the risk, especially for originators. The percentage of borrowers looking for a more tech-centric mortgage experience is on the rise, so it is more important than ever for originators to work for a company that remains ahead of that demand. Mortgage companies that have already adopted end-to-end solutions are experiencing the upside of achieving a sleek borrower experience that simplifies operations and ultimately saves money. It’s important to have all the facts and information and the best technology for you and your prospective clients.