MortgageOrb: Communication with Customers All the More Critical During COVID-19 Crisis

Total Expert Founder & CEO Joe Welu was featured in MortgageOrb to discuss the value of consistent and clear lender-to-borrower communications throughout COVID-19.

The COVID-19 crisis has resulted in a watershed moment for the mortgage industry in which providing a completely contactless, technology-driven, all-digital mortgage experience has become essential to conducting business – as opposed to an important option to deliver to consumers.

Now, there is no option: Leads must be captured in automated fashion. The mortgage application process must be fully online and automated. Appraisals must be handled in such a way so as to adhere to CDC social distancing guidelines – including allowing interior inspections to be handled remotely, using homeowner video. And remote online notorization must be used when possible to complete the closing process.

That does not mean, however, that the human element is gone from the equation. Mortgage brokers and loan officers must still continuously communicate with borrowers throughout the process via the digital channels of choice. With the pandemic, digital communication with borrowers – especially real-time communication – has become critical to ensuring a smooth, coordinated process.

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