Better, faster, cheaper has long been the promise of technology in the mortgage industry. Some may argue whether today’s technology is that much better than the tools we used in the past, particularly in the servicing business where many still use platforms designed and first built decades ago. Likewise, others will argue over whether today’s tools are cheaper, given the high cost of loan origination.
No one argues about today’s technology being faster.
We can convert website browsers to prospective borrowers in seconds, with complete loan applications completed online in mere minutes. Underwriting has been a sub-minute-long process for years now. Electronic details ⇒
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