Driving to a fully digital mortgage - The Mayopoulos Memo | Blend

The Mayopoulos Memo: 4 forces driving to a fully digital mortgage

The mortgage industry historically has been resistant to change and slow to offer a premium digital experience that puts customers at the center. But if the lenders of today want to set themselves up for success as mortgage lenders of the future, they’ll need to embrace new technologies that will help them deliver a fully digital mortgage.

In a new LinkedIn post, Blend President Tim Mayopoulos outlines the four industry forces driving to a fully digital mortgage.

Ready to read the full post?

Read Tim’s article on the digital transformation here

Tim is optimistic — and excited — about the forces that are modernizing lending and the coming transformation of the mortgage business.

In his article, Tim shared his view that there are four forces driving to a fully digital mortgage. To hasten this transformation, we have built our Digital Lending Platform, offering the future of lending today. Explore some highlights from Tim’s post below, or if you prefer, jump straight to LinkedIn.

Rising consumer expectations

“Today’s home buyers expect a fast and frictionless mortgage application experience on par with how they shop for other goods and services.”

The GSEs need it

“Since the financial crisis, Fannie and Freddie have been working to drive transparency. Using verified digital data is the only way to provide full visibility into loan quality.”

Lender costs keep rising

“While consumers want convenience, lenders want efficiency. A digital mortgage enables lenders to close loans more quickly, reduce costs, and maximize productivity.”

New technology makes it possible

“Cloud technology has made the cost of all of this much lower. And artificial intelligence is enabling technology to adapt quickly and efficiently to replace human processes.”

Read all of Tim’s LinkedIn articles here. Don’t forget to follow his LinkedIn profile for the latest updates.