Why Are Automated Mortgages Real Estate Technology's Future?
Episode description
The last several years have been volatile for the property market. However, as the market is slowing, that is freeing up space for lenders to consider their back-of-house processes and rehabilitate them to accommodate the demands of modern consumers. Largely, that means automating and digitizing processes. Think automated underwriting of the borrower and the property, think about a fully digital experience to close alone.
And this is really where the future lies for the mortgage industry.
By separating out run-of-the mill applications to accelerate their processing, lenders are freed up to address the more complex cases that may require counseling or human expertise to fulfil the requirements and close the process.
In this episode of Core Conversations, host Maiclaire Bolton Smith sits down with Praveen Chandramohan, an executive in origination solutions at CoreLogic to discuss why improving the mortgage workflow through technology is an essential next step for the industry.
In This Episode:- 3:40 – The etymology of the word “mortgage” and why homeownership will remain the American dream.
- 6:15 – Why the mortgage industry is decades behind in technological advancements and what can be done.
- 8:15 – What are the key areas lenders can focus on to improve customer retention and acquisition?
- 12:32 – How the U.S. mortgage market is unique and what that means for both borrowers and lenders.
- 17:15 – The future of the mortgage industry lies in accelerating processing speeds.
Links: Learn about CLIP (CoreLogic Integrated Property number)
Up Next: Modernizing Loan Origination Workflows: A Shortcut Through the Mortgage Maze
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