Delivering the modern mortgage experience
Mortgage lenders are investing heavily in digital transformation initiatives to accelerate business processes and enable the digital experiences that borrowers and business partners increasingly expect. Even though many lenders have digitally enhanced some parts of the mortgage process, the process itself often remains largely disconnected and manual.
It’s no wonder. A mortgage is one of the largest, most complex, and longest-lasting consumer financial instruments. The process to deliver a mortgage involves: the exchange of hundreds of pages of documents with borrowers; collaborating with dozens of external participants like escrow, title, settlement, legal, notary, and real estate agents; signing a variety of agreements and consents; adhering to county, state, and federal regulations for the transaction; and all the while, keeping sensitive financial documents moving and all participants on task.
The good news is you don’t necessarily need to rip out and replace your existing systems to deliver the experiences and efficiencies borrowers expect. You do, however, need to focus future investments on digital technologies that close the gaps in the overall borrower experience and enable the option of a completely digital mortgage process, even if most borrowers aren’t ready for it yet. This white paper outlines a smart, three-step plan to secure your digital future.
Be the lender that everyone can—and wants to—work with.