Mortgage processing today continues to be slow, unorganized, and labor-intensive. As a result, it is struggling to scale up to meet customers’ expectations of a fast and seamless digital borrowing experiences. The direct fallout of this is losing customers to competitors. An inefficient process is also responsible for generation of faulty loans. Such loans find no takers in the secondary market…
Mortgage
Time is of the essence when it comes to mortgage loan processing since it is one of the core business processes of banks and lenders. The process generally spans across various touchpoints, multiple systems, and different departments. These various touchpoints include branches receiving mortgage applications from customers, assessment by headquarters, acceptance by customers and finally disbursements. Since it is still…
The pandemic-induced economic uncertainty has resulted in a record fall of home interest rates. This has triggered loan refinance like never before. Swamped with loan refinance requests, mortgage lenders are finding it hard to ensure a seamless refinance experience to borrowers. This blog looks into the key aspects of making refinance a smooth affair. The fall in Interest rates during the…