Data Facts Lending Solutions Blog

Will Technology Replace the Loan Officer? We Don’t Think So

Posted by Matt Holmes

Aug 10, 2020 9:14:22 AM

It’s a question that’s been tossed around since the dawn of computers. Will technology replace the need for human interaction? Will we lose our jobs to the robots? With the rise of artificial intelligence in the mortgage industry, and ease of access to mobile apps that can compare mortgage products, calculate loan amounts, and view application statuses, where does the human element fit in?

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Topics: Mortgage loan, Mortgage lenders, digital mortgage

Mortgage Industry Professionals...Get Ready for URLA

Posted by Susan McCullah

May 31, 2019 3:16:06 PM

When you're a mortgage pro you rarely get to sit back and relax for long. There's always a change coming your way to handle. The upcoming revision of the Uniform Residential Loan Application (URLA) is one of them. 

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Topics: mortgage process, Lending compliance, mortgage education, digital mortgage, URLA

Important Digital Mortgage Statistics Mortgage Pros Should Know

Posted by Susan McCullah

Apr 30, 2019 9:42:59 AM

Digital mortgage discussions are everywhere! Blogs, news, and trade shows can't stop talking about them and their impact on the current and future mortgage industry. 

What are consumers saying and feeling about digital mortgages? What are the benefits and the drawbacks? We've compiled a list of the best, most up-to-date statistics available to shed more light on this important mortgage trend. 

STATISTICS TO KNOW

Millennials account for 36% of homebuyers in the market. 

More than 50% of all loan applications in the past two years included some online or mobile component.

67% of those with an existing home loan would feel comfortable completing a home loan application on a laptop or desktop computer, and 29% would be comfortable using a mobile device.

More than 30% of borrowers reported not comparison shopping for their mortgage.

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Topics: mortgage news, Mortgage Lending, mortgage trends, mortgage lending services, mortgage education, digital mortgage

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