The Digital Mortgage of Today and Tomorrow
THE DIGITAL MORTGAGE OF TODAY AND TOMORROW
October 2nd, 2017
Today, people live in a connected world where customers have the ability to preorder coffee at Dunkin Donuts. Then they can pick it up when they get to the window. This culture shift has created an expectation among consumers that the mortgage industry needs to embrace.
What is a digital mortgage?
A true digital mortgage is one that leverages technology to create an environment where a mortgage is produced, transferred, and stored without using a single piece of paper. Meeting a loan officer might still be a step of the process. However, if you do so it is done over phone or by email. You’ll still need to provide all the same documents. Now you will have the ability to do so at home using your computer, smartphone, or tablet in a paperless transaction.
What is the Purpose?
Taking full advantage of a digital mortgage will give lenders the option to get rid of processes, eliminate paper, reduce labor costs, and provide a more simple solution. This also gives the borrower what they want in a timely manner.
What does the future look like for the digital mortgage industry?
There are some interesting and exciting new technologies being explored that will help make the production and servicing of mortgages more secure, efficient, and cost-effective. These are fantastic features that will serve to make the mortgage process better for lenders, consumers, and investors, but they still fail to address the lack of trust, and easily accessible expertise that are inherent with a fully digital mortgage process. Mortgages can be complicated and tricky, but there are options to get a better understanding.
Today’s digital mortgage
The mortgage industry has begun to rapidly adopt mortgage technologies. Specifically, ones that allow a loan officer to provide many of the most important elements of a digital mortgage.
WebMax, is helping mortgage companies and real estate professionals leverage the Internet to boost individual productivity and corporate growth. Our technology is proven to maximize lead generation and conversion, expedite the loan origination process, enhance referral partner relationships, and seamlessly integrate with mission-critical third-party applications.