The Role of Technology in Mortgage Lending

By inflooens on September 15, 2020

the role of technology in mortgage lending


The U.S mortgage industry is experiencing a wave of technological innovation as millennials (22 percent) have entered their prime years. As a result, the mortgage providers such as banks, financial institutions and credit unions are in a hurry to automate, simplify and speed up every step of their mortgage CRM process to provide a distinguished user experience to the customers. Many fintech organizations have developed a seamless end to end mortgage automation application to provide a user intuitive mortgage commissions system.

share of us population by generation

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According to available statistics, the online lenders in the mortgage industry have increased by 100% whereas the large banks have lost a 50% share in the mortgage market.

In the aftermath of the financial crisis experienced in 2008, Fintech lenders have become a vital source to get the best mortgage CRM software for distinguished customer experience. The latest technologies have changed how the lenders, brokers in the mortgage market approach the prospective customers and this has evolved the entire mortgage pricing system. The LOS followed today in the mortgage industry has brought about a mortgage disruption making it easier for the lenders to provide a seamless loan origination system to the borrowers.

In the mortgage industry prevalent today, the lenders in the mortgage market must deliver –

  • Personalized approach to the borrower
  • Streamlined mortgage pricing system based on technology
  • Fast mortgage process
  • Easy to use mortgage platform for the lenders

The borrowers in the mortgage industry are focused on a personalized approach from the lenders. This is beneficial to the lenders in the mortgage market as it helps in CRM and increases the probability of new customers. The mortgage CRM platform used in the loan origination system is tailored to handle the complexities of mortgage pricing system and hence, can assist to promote your name in the mortgage market thereby improving profitability.

To bring about mortgage disruption, the lending institutions must provide a seamless mortgage commissions system to create a compelling customer experience. With the right mortgage CRM application, a right impact on its internal users is possible which will assist in faster loan processing, reduce operating costs, better data continuity and offer a real-time overview for the loan origination system. On the other hand, when you use an effective mortgage pricing system supported by a mortgage platform in the mortgage market, its impact on the external users i.e. borrowers for back-office processes is a better loan origination system and an increased trust on the mortgage lenders.

There has been a fast adoption of CRM in various industries and the banking industry cannot be left behind as it has a huge mortgage market. The CRM technology in the mortgage industry allows managing the mortgage pricing system effectively and automation reduces the chances of human errors. The mortgage LOS platform will bring about mortgage disruption and guarantees more customers to the mortgage brokers providing more profits in the mortgage commissions systems.

World’s first loan team optimization platform

Fintech inflooens has designed the world’s smartest mortgage CRM which is the best mortgage platform for lenders and brokers in the mortgage industry. This application has been developed with cutting edge technology to provide a distinct and seamless user experience for the lenders in the mortgage market to give borrowers a hassle-free process in loan origination system. Our platform in the mortgage industry is based on next-generation technologies for driving significant business outcomes.

The mortgage CRM solution will create a compelling customer experience for the lenders involved in the mortgage commissions system and is tailored to handle the complexities of the mortgage industry. Our platform aims at transforming the mortgage lifecycle with automation to streamline the mortgage process. The mortgage CRM solution is a perfect application for lenders in the mortgage market who want to increase their profits from mortgage pricing system.

Artificial Intelligence and more

Our mortgage CRM platform makes use of Artificial intelligence, OCR, Blockchain and more to assimilate, sort and evaluate the information retrieved from borrowers. This mortgage CRM solution also uses blockchain to improve the loan origination system efficiency and make the entire process more affordable. In mortgage pricing system, the blockchain consists of 3 parts – record, block and the chain. In this application, the transaction details of the record which consist of the details of the transaction and digital signature of both the parties, lender and borrower is verified before it is officially added to the existing records of the mortgage commissions system.

For more information about our platform, do check to understand how our mortgage CRM solution will bring mortgage disruption and help you provide a personalized LOS.