Mortgage Automation - A strategic priority
Mortgage Automation should be a well-known term if you work in the Mortgage Industry, and especially if you deal with Loan Origination Systems. One of the first workflow engines for Mortgage Automation was granted a patent in 2002. Since then Fintech Startups have taken on the challenge and made digital loan origination systems a common industry practice. Some global banks have gone as far as to condense the loan origination process to just 3 minutes for application and 1-second approval with superior workflow management. So if you are not on the mortgage automation train yet, this blog will tell you why you need to make it a strategic priority for lending. We have discussed the concept previously in our blogs. Why Mortgage Automation? Consumer experience and behavior are the most important factors in decision-making for any business. This is also true for the mortgage industry. Surveys and statistics suggest that consumers prefer lenders who pro...