[Expert commentary] While we have witnessed the rapid disruption in products and technology, many experts believe artificial intelligence will disrupt the human interaction with homebuyers and remove loan officers entirely from the equation. However, data does not suggest this will happen anytime soon. According to consumer research by PricewaterhouseCoopers, today’s borrowers prefer a combination of digital tools with knowledgeable advisors.
[Expert commentary] Today’s consumers are accustomed to making instant banking transactions and home searches from the palms of their hands, and they expect this kind of ease of use across industries. Ultimately, the best lenders are those who will bring greater transparency to the borrower, which often requires the adoption of new technology as it comes available. Here are different categories of technology every lender should be using and key considerations in choosing and adopting the right vendor.
He wears t-shirts to his televised interviews; not very CEO. He played sports at a high level, but rarely brings it up and when he does he talks about it as a mere chapter in his life. Honestly, who plays a Super Bowl and doesn’t describe it as the defining moment in their personal journey? Casey Crawford, that’s who. His family is a big part of his life of course, but he talks about his even larger family — his coworkers — in terms that are just as glowing.
One of the things that has bedeviled mortgage financing post-crisis has been the absence of the private label mortgage backed securities market. During the peak years, private label MBS issuance topped $1 trillion. In 2017, only $70 billion of private label RMBS were issued, although that is a big increase from 2016.
Digital technology has disrupted businesses and industries from publishing to public transportation, so can the mortgage industry be far behind? Actually, anyone who’s applied for a mortgage recently will have recognized that things are already changing fast.