It won’t be too long before the entire mortgage lending process will be online. At least that’s what experts at the annual Mortgage Bankers Association said Monday, according to HousingWire staffer Kelsey Ramirez.
“More and more transactions are moving online, and today's consumers - especially the 35-and-under set - take it as a given that they'll be able to transact online,” Roostify CEO Rajesh Bhat told HousingWire.
But lenders can also benefit from going digital. “Digital saves significant time and effort versus manual, paper-based processing,” Bhat said. Lenders get the documents they need faster, can process them faster, and are less at risk for errors that can delay or derail a loan decision.