Fintech
One area of growing importance in the housing industry is fintech, which integrates new types of technology into financial services companies, including lenders, mortgage brokers, and others, in order to improve how they deliver products and services to consumers. When it comes to the mortgage industry, fintech has recently helped to propel forward a number of innovative platforms to improve speed, simplicity, and efficiency when buying a home.
By integrating new fintech advancements into mortgage lending, the results may lead to higher application completion rates, faster closings, and better customer experiences — all of which are important for driving business, especially in a housing market experiencing a downturn like the one we are currently facing. Fintech advancements work to speed up data collection, streamline two-way communication, and simplify the experience for all parties involved.
With the mortgage market facing numerous challenges and continued margin compressions in 2022, which is expected to continue throughout 2023, lenders may benefit from the fintech advances that can help them better conduct their business, whether the goal is to scale their businesses on demand, create faster onboarding processes for new customers, or incorporate technological advancements into their digital operations.
Latest Posts
Three takeaways from Rocket Companies’ Q2 earnings
Aug 07, 2023Rocket reaffirms its fintech vision, focuses on DTC and TPO mortgage origination channels, and closes businesses that are not meeting the threshold.
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Fintech Stavvy acquires servicing tech firm Brace
Aug 01, 2023 -
Manufactured housing lender Zippy secures additional funding
Jul 14, 2023 -
Anaid Chacón joins Argyle as SVP of product
Jul 13, 2023 -
Figure Technologies launches wholesale lending platform
Jun 20, 2023 -
For the title industry, new tech means new opportunities for fraudsters
Jun 08, 2023 -
Inside Rocket’s strategy to win when the market turns
May 17, 2023 -
The BIG Point of Sale integrates with ICE Mortgage Technology
May 08, 2023 -
Mortgage fintech Maxwell launches SSO tool for lenders
May 01, 2023 -
FedNow: instant payments or instant fraud?
Apr 27, 2023 -
Tavant adds automated asset analysis product to its lending platform
Apr 25, 2023 -
Moon platform launches crypto-backed mortgage product
Apr 04, 2023