Mortgage Servicers: It's Time to Modernize to be Competitive

Digital banking has been on the rise for many years: the pandemic made it imperative. In the past two years, customers no longer merely chose to do their personal banking at home, they were in many cases forced to. Organizations scrambled to adopt digital technologies and supporting processes to position themselves to advantage. As low interest rates continue to keep the mortgage market active, digital-first mortgage originators and servicers are taking the mortgage market by storm, largely because they provide their customers with an excellent borrowing experience. Recent research by McKinsey showed that almost 60% of borrowers are willing to complete the entire mortgage process online.