With the average time to close a mortgage transaction still 40+ days, the experience of a “one-tap” digital mortgage seems distant to most onlookers. In reality, however, the important measure of efficiency is how long a borrower actually spends in the mortgage factory line—in other words, how long it takes to get approved and complete all of the necessary requirements and paperwork before closing.
Tag: Digital Mortgages
Brian Zitin: Appraisals—The Final Frontier in Digital Mortgage
With the average time to close a mortgage transaction still 40+ days, the experience of a “one-tap” digital mortgage seems distant to most onlookers. In reality, however, the important measure of efficiency is how long a borrower actually spends in the mortgage factory line—in other words, how long it takes to get approved and complete all of the necessary requirements and paperwork before closing.
Chris Lewis: 3 Steps You Should Take Now to Get Ready for RON
Many of the industry’s efficiency experts have long argued that a digital mortgage can save all parties time and money. In the past, however, there were too many downstream issues that blocked the process from full-scale adoption. But with shelter in place, safer at home and social distancing all coming into play, the pandemic has led to a renewed push to get a completely digital mortgage as the new way to close all your loans.
Steven Octaviano: Today’s Innovation Opportunity–And Why Lenders Must Embrace It
The technologies behind these changes have been with us for some time, but it took a crisis of mammoth proportions to accelerate adoption. Yet there are other areas of the mortgage business still sorely in need of innovation. And if lenders hope to remain competitive and thrive when the smoke from the pandemic clears, they need to be embracing these innovations today.
Fannie Mae: Explore How the Industry is Going Digital with eMortgages
eMortgages have grown significantly – and in light of recent events, demand is higher than ever. Henry Cason, SVP and Head of Digital Products at Fannie Mae, shares how the industry is embracing digital mortgage solutions. Read our attached blog post for more information.
Brian Simons: The Modern Operating Model for Mortgage Lenders
In the last five years, lenders have made great strides with significant investments in best-in-class borrower experiences, navigating a plethora of new digital tools, all while adeptly navigating the ups and downs of the market. In my experience, unfortunately, most initiatives to cut costs and improve quality are short-lived or merely incremental. What I have found over my 25 years in this industry is that transformational growth only occurs when senior leadership commits itself to reevaluating their entire operating model.
Brian Simons: The Modern Operating Model for Mortgage Lenders
In the last five years, lenders have made great strides with significant investments in best-in-class borrower experiences, navigating a plethora of new digital tools, all while adeptly navigating the ups and downs of the market. In my experience, unfortunately, most initiatives to cut costs and improve quality are short-lived or merely incremental. What I have found over my 25 years in this industry is that transformational growth only occurs when senior leadership commits itself to reevaluating their entire operating model.
Brian Simons: The Modern Operating Model for Mortgage Lenders
In the last five years, lenders have made great strides with significant investments in best-in-class borrower experiences, navigating a plethora of new digital tools, all while adeptly navigating the ups and downs of the market. In my experience, unfortunately, most initiatives to cut costs and improve quality are short-lived or merely incremental. What I have found over my 25 years in this industry is that transformational growth only occurs when senior leadership commits itself to reevaluating their entire operating model.
Home Sales Exceed Pre-Pandemic Levels for the First Time; Sentiment Grows for Buying Homes Sight-Unseen
Redfin, Seattle, said home sales surpassed pre-pandemic levels for the first time the week ending July 5, up 2% on a seasonally adjusted basis compared to January and February levels.
Brian Simons: The Modern Operating Model for Mortgage Lenders
In the last five years, lenders have made great strides with significant investments in best-in-class borrower experiences, navigating a plethora of new digital tools, all while adeptly navigating the ups and downs of the market. In my experience, unfortunately, most initiatives to cut costs and improve quality are short-lived or merely incremental. What I have found over my 25 years in this industry is that transformational growth only occurs when senior leadership commits itself to reevaluating their entire operating model.