Digital mortgages transform the customer experience with slick user interfaces and data integrations that streamline the process of getting a borrower hooked up with a lender. Now it's time to disrupt the rest of the process.
For the digital mortgage to reach its full potential, lenders and technology developers still have to solve for the disconnect between the front-end application process and the underwriting work required before a loan closes.
Automated data validations are integral to a seamless digital mortgage experience. But the extent of data exposed in the Equifax breach raises questions about the risk of fraudsters exploiting those technologies to further compromise consumer data.
The mortgage market is transforming at breakneck pace, with bank and nonbank mortgage lenders investing heavily in digitizing their process, improving the customer experience, and speeding time to close.
Tech-savvy mortgage broker Sindeo is back in business, following an acquisition by Renren, a Chinese social media company and an investor in U.S.-based fintech firms including Social Finance and LendingHome.