What is the digitalization of mortgage services?

The digitalization of mortgage services is the process of converting the information and operations of the mortgage application and issue process into digital format.

What are the benefits of digitalization in the mortgage industry?

The benefits of digitalization in the mortgage industry include A convenient and faster application process Shorter time to close Higher employee productivity due to lower workload Improved data safety and security Lower financial and non-compliance risks Lower cost per loan

What is mortgage automation?

Mortgage automation is the process of transferring manual tasks from people to computer systems. For example, an employee can request an automated report on a person’s credit history and financial status instead of manually reviewing the data themselves.

What are the challenges behind the digitalization of mortgage services?

Most often, traditional mortgage lenders face such issues as An ineffective, piecemeal approach to digitalization A lack of buy-in at both employee and manager levels Problems integrating technology with traditional systems and workflows Multiple regulations and the need to comply with them while optimizing workflows A fear of new technologies among employees Fortunately, all these challenges can be overcome with an experienced vendor and the right approach to digitalization.

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Digitalization & Digital Transformation Blog 4

We have collected useful articles about digitalization in various business areas. On the pages of our blog, we tried to convey how to do digital transformation better and correctly.

Digitalization

Full-Scale Digitalization for Mortgage Lenders: Why Bother?

Nataliia Peterheria

Operations Manager

Digitalization

Booking Service Software Modernization. How Do We Do It?

Alex Ryabtsev

Backend Competency & Tech Lead

Cooperation

Software Development Consulting: What do our services include?

Learn more

Digitalization

Digital Transformation in Banking and Finance: The How and Why

Nataliia Peterheria

Operations Manager

Digitalization

How to Successfully Update Legacy Code

Alex Ryabtsev

Backend Competency & Tech Lead

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