Automation & Technology
Going Digital: What does the term “digital mortgage” really mean?
There is a lot of buzz in our industry about digital mortgages. However, the term is widely overused, and largely under-delivered on its true promise. Some define a digital mortgage as the online application process that has been available for years. Others define it as an eClosing process. Neither of these explanations present the full story.
A true digital mortgage must encompass the entire loan lifecycle: from targeted marketing automation to lead generation to application, all the way through to automated investor delivery. Only then will the promise of the digital mortgage pay off for both borrowers and lenders.
So, what do borrowers have to say on the subject? To better understand the preferences of U.S. homebuyers, Ellie Mae surveyed more than 3,000 millennials, gen Xers and baby boomers. Our research findings, along with a comprehensive digital mortgage overview are presented in a new eBook, entitled The True Digital Mortgage – An All-in-One Solution for a Changing Industry. We’d like to share this exclusive resource with you.
Use this free eBook to gain insights about:
- Defining the true digital mortgage
- Borrower preferences across multiple touchpoints
- Insights on automation, machine learning and compliance