Loan Software | Paperless Document Management
The first Digital Mortgage Conference was held in San Francisco in December 2016. The mortgage industry is quickly realizing the value of digital channels to customers, and the conference highlighted several trends and technologies. Here are some highlights from the conference.
If you intend to market mortgages using digital channels now or in the future, you should attend future conferences.
- Platforms such as Quicken Loans’ Rocket Mortgage are redefining how a customer can obtain a mortgage. It was noted that a new Rocket Mortgage account is being established every 34 seconds, and a mortgage application is completed every nine minutes.
- Mortgage processors should look at the goal of a buyer completing a mortgage application while they are standing in the house they want.
- Customers need to gain confidence that applying for a mortgage online can be accomplished as easily as a phone call with a lender. Customers still have some fear of digital applications where no human interaction is visible.
- Customer support has to be available as needed without barriers for a customer looking for help.
- Digital mortgages have to be simple, transparent, intuitive, rule-based for quick conditional approvals, automatically updated, and electronically signed for completion.
In time, customers should feel fully comfortable to complete a mortgage application from beginning to end without interacting with a human. To succeed, lenders will need robust loan processing systems to make the system easy on the borrower’s side. This is where ATLOS paperless loan processing systems can help. Our existing software can support the backend of your digital loan application using secure and strong software to handle all aspects of the loan process. Customer financial tax and income data can be added seamlessly to their file, all documents can be electronically signed, and data storage is highly secure.
Contact ATLOS today if you handle mortgage loans and are looking for a digital platform to keep up with or beat your competition.