We’ve heard a lot about “uncertainty” these days and for good reason. Everything about how we live and work has changed drastically, leaving many aspects of our lives in the grey. But not everything is uncertain. There’s quite a bit of certainty still left in our post-COVID future, and it’s most notable in the mortgage industry.
Lending was already shifting to digital pre-COVID. The technology was there. It was just a matter of who had implemented it and who had not. And this what is separates the “certain” from the “uncertain.”
Here’s what we mean —
Had this pandemic occurred ten years ago, it would have affected us a lot differently. Our smartphones would have still been running on a 3G network. IPads would not have existed. Nor the Android operating system.
Instacart and Doordash wouldn’t have to come to the rescue, and virtual assistants like Siri and Alexa hadn’t yet launched. Even popular touchless payments like Venmo and Stripe didn’t exist.
Continuing life and work would have been immensely more difficult had the pandemic hit us ten years ago.
As crazy as this sounds, many industries and businesses were operating as if it was 2010 right before the pandemic.
Thousands of restaurants –from diners to 5-star — scrambled to switch from dine-in only to delivery only despite the multiple services that were already in place to add the service before the pandemic hit.
Banks across the country had apps for online banking, but no system in place for remote work, despite the growing consumer preference for online banking over brick-and-mortar banking.
Municipal services across the nation were caught off-guard when, overnight, virtual workflow and collaboration were the new standards when, in reality, it had been available for several years.
By not utilizing readily available technology, they fumbled the transition, disrupted service, and lost revenue and the trust of their consumers.
Here’s another harsh revelation — by not implementing technology sooner, they missed out years of additional revenue! Not to mention massively raising their cost of operation. Gulp.
COVID Accelerated the Digital Mortgage Transformation
But the mortgage industry was not like that –or at least not for every lender. Huge strides were happening in mortgage tech, and many had already transitioned into the digital age before the COVID overhaul.
For these lenders, the change to remote work may have been as swift as creating a Zoom account, logging into the intra-office chat, and logging into their mortgage POS/CRM/LOS systems.
Was your transition that smooth? Do you feel this level of confidence in your digital mortgage platform?
If you feel anything less than confident, chances are you weren’t working with all the mortgage technology available to you.
The Mortgage Technology You Need For The New Normal
Mortgage tech that makes you feel this confident or “certain” goes beyond its ability to take you from in-office work to a remote office. It’s about elevating the mortgage experience for both loan originators and borrowers.
It should also help you stay connected, stay competitive, and provide you with the tools you need to build a thriving business, no matter the circumstances.
And in today’s post-COVID world, mortgage technology must be able to do all that in a touch-less environment.
Building Your Digital Mortgage Ecosystem And Staying In Sync
At LenderHomePage, all of the above points have been our obsession for 17 years. Immersed equally in the mortgage industry and the digital revolution, we’ve been consumed with creating a configurable and streamlined digital platform. One that helps LOs provide stellar customer service, efficiently manage volume surges, reduce costs, increase revenue potential, builds your brand, and boosts team productivity –all from one comprehensive, stackable platform.
Over the next few weeks, we’re going to share, in greater detail, the features of our most recent and exciting development —LOANZIFY Mortgage POS. Launched just a few weeks before the pandemic, it proved to be the indispensable tool that made all the difference for those that implemented it before and during the COVID crisis.
Interested in seeing a live demo now? Sign up for a live demo of LOANZIFY Mortgage POS by clicking on the button below.