Clint Salisbury of IDS: Don’t Sacrifice Borrower Experience for Sake of Digital Mortgage Innovation

The benefits of hybrid eClosings are obvious when viewed from the lenders and/or investor perspective – streamlined processes, greater operation efficiency, reduced errors, etc. – and borrowers certainly feel the impact of those to a certain degree. However, the “digital revolution” many lenders may assume they are delivering to consumers might not be as revolutionary when examined from the borrower’s side of the transaction.

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“Mortgage application volume continues to decline due to rapidly rising mortgage rates, as financial markets expect significantly tighter monetary policy in the coming months. As higher rates reduce the incentive to refinance, application volume dropped to its lowest level since the spring of 2019.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.

Mark P. Dangelo: Digital Transformation’s Hidden and Growing Corporate Liabilities

Digital transformation efforts are institutionalizing risks. While the past decade concentrated on understanding and leveraging “big data”, the next frontier of regulatory compliance and customer advocacy resides beyond the original digitized data—digital inferences and their (automated) conclusions.