Achieving touchless lending for mortgage is now more important than ever before. Home refinancings and purchases have experienced a significant uplift in activity, and mortgage providers are scrambling to keep up. This has resulted in numerous industry-wide challenges, most notably a shortage in availability of underwriter talent.
Increasing the size of mortgage underwriting and processing workforce to accommodate higher loan application volume seems like the logical approach, albeit not the most cost-effective one, especially in a competitive hiring market. However, there is an alternative – one that instead streamlines the entire loan process, from application to close.
Due to recent advancements in automation technology, touchless lending has graduated from theoretical to actual for the mortgage industry and achieving touchless mortgage pathways will set a new standard in accelerating the loan manufacturing process.
This white paper will cover how to achieve a touchless mortgage pathway and its benefits for lenders.
Date: August 2021