Product Details
Recorded Sept. 14, 2017
There is a lot of buzz these days about the push to go digital in the mortgage market. And much of the dissatisfaction borrowers voice about the mortgage process—the length of time it takes, repeated requests for information they believe they’ve already supplied, a lack of information on loan status—could be erased or at least eased by transforming the paper-based processes to electronic ones. Importantly, business needs and regulatory requirements are also aligning in favor of moving to increasingly digital processes.
While the best reasons to adopt electronic applications, portals and processes are to improve customer onboarding and expectations and gain an edge over your competitors, the switchover promises to also create efficiencies and cost savings, improve regulatory compliance and data quality and provide additional market intelligence. Going digital can also improve pull-through and, thanks to increased closing speeds, cycle your warehouse funding more quickly, allowing more originations from the same credit amount. The transition can even be approached in steps, but it can’t be done well if done piecemeal.
In this 90-minute recording, our panel of experts discuss the benefits of and obstacles to offering digital mortgages and how best to approach the transition.
You’ll hear from:
- Tim Anderson, Director, eServices, DocMagic
- Shane Hartzler, Director, eMortgage Strategy and Operations, Fannie Mae
- Travis Kniffen, Product Marketing Manager, Roostify
- Scott Stephen, President, Online Division, Guaranteed Rate
- Margo Tank, Partner, BuckleySandler
Among the topics discussed:
- Do you need to go digital to remain competitive in the mortgage market?
- What is the role for humans in a digital mortgage?
- What are the biggest roadblocks to offering a digital mortgage?
- What are the compliance risks?
- What is involved in switching all or part of the lending process to digital?
- How can you best implement a digital mortgage in steps?
- What are the secondary market considerations?
- For which product types or borrower types are digital mortgages possible?