Embracing the benefits of technology can potentially provide a smoother, more efficient closing process for borrowers as well as less delays and costs for lenders.
Let’s review in detail a recent Consumer Financial Protection Bureau (CFPB) study, where mortgage eClosings were associated with higher scores for certain aspects of the consumer experience.
I recently asked two top mortgage producers how they keep their clients and agents updated — and what that has done for their business. With the ease at which information flows back and forth, why limit yourself to delivering only milestone updates? What would happen if you updated your clients weekly, regardless of milestones? Or even multiple times per week?
It took me five weeks from start to finish. If you just lower your shoulder and power through it, you’ll get your Colorado mortgage loan originator license. For anyone else who wants their Colorado MLO license, here are the exact steps I took to get licensed in March of 2015.
I’ve heard many stories about technology-averse mortgage borrowers. Below I’ve listed common objections to using technology during the mortgage process from borrowers, followed by answers to help borrowers overcome their objections. Although these are aimed at a mortgage scenario, they could be applied to several situations where a client is hesitant to use technology.
When we were kids, we were taught never to break a promise. But in the grown-up world of mortgages and real estate, delivering on your promises is a technique that will land you more business. I’ll show you this technique. It’s a very simple but effective workflow.
Differentiate your mortgage business from the competition with more than just “great customer service.” Provide what millennials and a surprising number of older borrowers want: automated mortgage process status updates.
Mortgage originators can open up a new world of productivity and improved processes with their software systems by embracing an old idea that they’ve probably never heard of before: open developer APIs.