How will technology impact loan originators in 2017… Predictions from 5 leaders
The mortgage industry is at a pivotal moment. Today’s consumers are demanding a mortgage process that is fast, easy, and transparent. According to a recent J.D. Power survey, 21% of homeowners are dissatisfied with their mortgage lender. And that number is even higher for first-time homebuyers, at 27%.
However, mortgage technology has slowly been catching up. In 2016, we saw an explosion of new tech-focused lenders, origination platforms, and other tools to help professionals provide consumers with a better experience. This year, loan originators will be the deciding factor in which technologies are adopted – and which die – as we head into 2018. Startups that are able to thoughtfully balance ease-of-use with compliance and security will gain serious traction and emerge as clear leaders.
I recently spoke with executives and leaders in the mortgage space about how technology will affect loan originators this year. Here are their insights and takeaways: