Your Modern Mortgage

2/24/2023 – VIDEO – In the past, securing a mortgage was often slow and cumbersome.  With modern technology and advancements in the industry, the mortgage experience has been revolutionized.

We were getting mortgage applications electronically signed back in 2008 when it still freaked people out a little bit.  Now we’ve been using that technology to push the envelope and compress margins for over a decade.  Today, the modern mortgage experience is a huge win for borrowers.  It’s more efficient, cost-effective, and convenient. Here are some of the ways in which the mortgage experience has improved:

1. Better Rates: With increased competition and technology, lenders are offering more competitive rates and fees.  This saves borrowers thousands of dollars over the life of their loan.  The intense growth of the broker channel in the past decade has also put pressure on companies to be more competitive than ever and that growth is fueled by technology.
2. Easy Online Applications: The mortgage process is now more streamlined and accessible, thanks to cutting-edge technology. Every single lender has online applications, digital signatures, and virtual meetings; if they don’t they’re in the stone age.  This allows borrowers to complete much of the mortgage process from the comfort of their homes, saving time and hassle.  It’s easy to work around a busy schedule with all this technology and the mortgage industry has been doing this long before COVID.
3. One-Click Uploads: Instead of having to mail or fax documents, borrowers can now upload them directly to their lender’s website with just one click. This feature not only saves time but also reduces the risk of lost documents.  We’ve also removed the frustration of converting your documents to PDF because that’s something our technology can do automatically for us.
4. Rate Tracking: After closing, savvy lenders now offer rate tracking to alert clients if/when rates drop, potentially saving them money by refinancing at a lower rate.
5. Automated Workflows: High tech lenders use automated workflows to keep employees on track.  This will ensure that all necessary steps are completed in a timely manner. Automated workflows that notify employees of upcoming tasks can help avoid delays and reduce stress for borrowers.

In conclusion, the modern mortgage experience provides a faster, more convenient, and cost-effective way to secure a mortgage. With better rates, cutting-edge technology, and automated workflows, homebuyers can rest assured that they are getting the best possible mortgage experience. And with the expertise of loan officers and mortgage specialists, any problems that do arise can be quickly and efficiently resolved.