Your Customers are More Connected than You Think
How well do you know your prospective customers? A recent study conducted by Ellie Mae indicates that lenders may not fully understand how engaged prospective homebuyers are. In short, borrowers are much more active online, increasingly mobile and looking for more personal contact from lenders than previously thought.
Borrowers want choice: access to multiple digital tools, which they can reach from any device, including an online portal to ease application and document upload processes. This suggests that lenders need to offer more robust ways for borrowers to engage online, and from mobile devices. Lenders also need to ensure that their loan officers are actually using the tools customers want and are educating their borrowers about the benefits of these tools.
Another surprising insight is that most lenders believe borrowers would describe their loan officers as highly responsive. However, borrowers say the opposite. Frequency of communication is an incredibly important factor to borrowers, and poor lender responsiveness alone can cause them to look elsewhere.
To get a side-by-side snapshot of lender and borrower viewpoints, download a free infographic, entitled “What Lenders Think vs. What Borrowers Do”.
For an even more detailed breakdown of lender and borrower insights, download the free eBook, entitled “The Digital Mortgage Opportunity: A Perspective from Lenders and Buyers”.