Why All Mortgage Brokers Should Utilize Fintech

June 24, 2021
Makayla Santino

More and more are realizing the importance of technology and innovation to the mortgage industry. Though relationships and an outstanding reputation in the public eye are important to finding success, they may no longer be enough to be sustainable on their own. Technology is now widely considered to be the fundamental element of expanding one’s business. Mortgage brokers that have already adopted fintech are quickly witnessing its benefits to their company.

Within the past decade, there has been an introduction of numerous fintech tools that make the lives of mortgage brokers much easier. Most of these tools aid the process of mortgage application and website navigation to make them more efficient for both the brokers and their customers. By adopting these tools as a broker, more customers will be drawn to your business because it will be a simpler and quicker process to act on.

Other tools mortgage brokers can implement are online mortgage calculators, document generation software, computerized application marketplaces, and customer relationship management (CRM) tools. By implementing these tools, brokers can be more efficient with their own time while also administering better information to their customers. Additionally, these services can help to differentiate brokers from banks.

Expectations of customers themselves are naturally changing as the globe becomes more digital. Nowadays, most people execute everyday tasks online. Most communication occurs instantly over text, payments can be made to the babysitter in an instant over apps like Venmo, and holidays can be booked in no time on apps or websites. The simplicity of these tasks naturally seeps into consumers’ expectations when it comes to getting a mortgage. 

At this point, those that refuse to become more digital will inevitably get left behind. These services are needed for brokers to easily stay in touch with customers through CRM technology and to streamline other processes to make the mortgage application process more efficient for both the broker and the aspiring homebuyer. 

Here at OnlineApplication.io, we offer these services. Our technology can deliver mortgage approvals to your customers in as little as seven minutes. Consumers will want to choose your business because our services significantly reduce the time taken to receive approvals and make the process more transparent. 

Additionally, you as the broker will be able to work more efficiently because there will no longer be a need for multiple platforms and logins. With our technology, there will only be a single access point that consolidates all of the documentation, allowing for you to give better advice and quicker loans. These tools will also remove the inefficiencies and regulatory processing that slows down applications through traditional banking systems. 

All in all, OnlineApplication.io is here to make the process of mortgage applications easier, better, and faster for everyone involved. Check out the rest of our website to learn more about our services!

 

 

References:

Rosengarten, Joe. “How Technology is Revolutionizing the Mortgage Brokering Industry.” Mortgage Broker News.ca, https://www.mortgagebrokernews.ca/infocus/technology-and-mortgage-brokering/how-technology-is-revolutionizing-the-mortgage-brokering-industry-217426.aspx.

Our Website Homepage: onlineapplication.io

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