<< Technology continued from Page 104 “Despite the automation, algorithms
and artificial intelligence, people still
want to do business with who they
know, like and trust.”
From application through the post-closing processes
that a mortgage originator must implement to have
long-term industry success, time has been drastically
freed up to allow a good originator the opportunity
to bring more business through the doors. Nothing
is so valuable as time, and time is what technology
has bestowed on professionals everywhere, including mortgage originators. Priceless time isn’t wasted
asking clients how many years they’ve been in school
and recounting their past two-plus years of residency
and job history.
Online platforms and mobile applications allow
them to get that out of the way and provide valuable
information before a conversation begins. Get that
online application and spend your invaluable half
hour of phone time not checking boxes, but getting
to know clients. Discover their hobbies. Address their
concerns. Show them value. Connect.
Market data is at our fingertips, along with tools
and charts that highlight expertise and answer questions clients didn’t even know they had. Comfort levels
with what is likely the biggest transaction a borrower
will ever make can be incredibly high, thanks to the
tech tools available today.
Borrowers can see the value in what they’re doing
in buying a home or refinancing. It’s easy to under-After the Great Recession turned the mortgage
process into a document-laden nightmare, technology
has finally brought the pendulum back to sanity, allowing loans to move fast. Single-source data and programs like Day 1 Certainty are allowing loans to close
at light speed with minimal client documentation.