Embrace the digital mortgage as a competitive advantage

The digital mortgage is more of an ideal than it is a concrete product.

While precise definitions vary, the term generally describes a smooth customer experience that may not even require a phone call or branch visit. It could be an intuitive process for applying for a loan online, perhaps with prepopulated data to save on typing. Borrowers upload financial documents and electronically sign disclosures. It can go as far as a fully paperless experience where all documents are executed electronically.

Embracing the concept can provide a competitive advantage in the mortgage market at a time when nonbanks are gobbling up banks’ share of originations.


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