LoanMonkey president on plan to compete against top lenders

Today’s HousingWire Daily features a crossover with the Housing News podcast, where HousingWire Editor in Chief Sarah Wheeler interviews Ashwin Dayal, the president of digital mortgage lender LoanMonkey.

During the interview, Dayal discusses LoanMonkey’s current business model and how he plans to compete with large lenders like Rocket and Better.com.

Here is a small preview of the interview, which has been lightly edited for length and clarity:

Sarah Wheeler: Let’s talk about what I think is sort of the holy grail for mortgage, which is the possibility of having a mobile mortgage. How close are we to actually having a mobile mortgage — not just a mobile application, but a truly mobile process?

Ashwin Dayal: I think from a technology standpoint, this problem is actually solved. And, what I mean by that is, while I don’t think there’s a single provider who’s necessarily providing that whole situation yet, I think fundamentally, the technology exists and we can link technological elements together, providing customers the experience of doing everything through their phone. I think one of the major blockers to this being a total reality is the regulatory environment.

HousingWire Daily examines the most compelling articles reported across HW Media. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Elissa Branch. If you have a pitch or an inquiry relating to podcasts, you can reach our team at [email protected].