Finicity in the WinnerÕ Circle: Mortgage lenders need a digital-or-bust mentality

CEO Steve Smith gives advice to lenders who want to stay competitive

Speaking to HousingWire Editor-in-Chief Jacob Gaffney on his podcast series In The Winner’s Circle, the CEO of data aggregator Finicity, Steve Smith gave some advice to mortgage lenders who wish to stay competitive.

Calling the role of the digital mortgage as in the “early adoption” phase of mortgage lending, Smith said: “Lenders need to adopt a digital-or-bust mentality” in an industry that is “ripe for new solutions.”

Finicity, a 2018 HW Tech100 winner, is making significant inroads into the mortgage lending space. The company recently announced integrations with BeSmartee's digital lending platform, MortgageHippo's digital lending platform and Ellie Mae’s Encompass platform.

They also announced a partnership with Advanced Data where Finicity asset reports are included as part of Advanced Data’s suite of fraud prevention and enhanced verification tools for mortgage lending. 

Smith talks about this and also elaborates on the importance of customer-data protection, how lenders use tech to save valuable time and the early role blockchain technology is also playing in the industry.

Listen and enjoy!

About the Author

Most Popular Articles

Housing market flashing recession signal

The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations.

Oct 11, 2019 By

Latest Articles

MBA: U.S. refinance activity triples on low rates

Last week, the 30-year fixed-rate mortgage fell, spurring another uptick in refinance demand, resulting in mortgage applications rising by 0.5%, according to the Mortgage Bankers Association. The organization indicates that on an unadjusted basis, the index crawled forward 1% for the week ending on October 11, 2019. Despite this increase, Joel Kan, MBA’s vice president of economic and industry forecasting, said the ongoing interest rate volatility is impacting a borrowers’ ability to lock in the lowest rate possible.

Oct 16, 2019 By