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YOUR FAST PASS TO THE DIGITAL MORTGAGE

Industry leaders are eager to make the transition to the digital mortgage because they understand that today’s consumer expects a fully digital process.

While each lender defines this product slightly differently, the consumer sees it as an overdue evolution in home finance. The borrower will judge the experience on ease of use and electronic communication. The result has been a new virtual land rush.

The institutions that stake their claim first in the mind of the consumer will have first-mover advantage in the new mortgage market. While the largest banks are already in motion, real estate remains a local business and a great many institutions can still achieve a competitive advantage if they can find a fast pass to the digital mortgage.

READ THE REPORT [PDF]



INDUSTRY LEADERS MUST MAKE THE DIGITAL TRANSFORMATION TO REMAIN RELEVANT TO HOME LOAN BORROWERS.

Industry leaders must make the digital transformation to remain relevant to home loan borrowers.

KEY FINDINGS

Findings and analysis included in this paper:

Mortgage lenders are fully aware of the digital mortgage imperative. They understand the benefits it offers and the risks they face for failing to achieve it.

 

Mortgage lenders are fully aware of the digital mortgage imperative. They understand the benefits it offers and the risks they face for failing to achieve it.

Reaching any version of the digital mortgage has been very difficult for all but the largest banks, and even those are focusing primarily on the customer interface.

Reaching any version of the digital mortgage has been very difficult for all but the largest banks, and even those are focusing primarily on the customer interface.

Lenders are struggling because they don’t have the internal resources to provide all four elements required for reaching this goal.

Lenders are struggling because they don’t have the internal resources to provide all four elements required for reaching this goal.

Lenders must acquire the technology, the process, the people and a guarantee of full compliance if they hope to make the transition to digital.

Lenders must acquire the technology, the process, the people and a guarantee of full compliance if they hope to make the transition to digital.

Bankers have solved similar problems in the past with the as-a-Service model for software delivery. This model can be expanded to the non-technical elements required for success.

Bankers have solved similar problems in the past with the as-a-Service model for software delivery. This model can be expanded to the non-technical elements required for success.

This is not (primarily) about technology. It’s about the customer experience in a connected world.

This is not (primarily) about technology. It’s about the customer experience in a connected world.



LENDERS CAN STILL ACHIEVE A COMPETITIVE ADVANTAGE IF THEY CAN FIND A FAST PASS TO THE DIGITAL MORTGAGE.

Lenders can still achieve a competitive advantage if they can find a fast pass to the digital mortgage.

FOR MORE INFORMATION

Greg Hoffman

Greg Hoffman
Managing Director | Credit Services
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