With mortgage lending expected to reach an all-time high1 and digital mortgage lending on the rise, today’s buyers have more borrowing options than ever. Paired with a rise in consumer expectations for speed, transparency, and convenience – surveys find that mortgage lenders are falling short on customer satisfaction.
In fact, a recent survey found that consumer satisfaction in key client service areas, including loan processing time, ease of self-service interaction and helpfulness of customer service have all declined in the last year.2 For most consumers, purchasing a house is the largest financial commitment that they will make. And often it is one that can be filled with confusion and frustration. But when lenders leverage the power of real-time data to communicate with buyers, they create a more personalized experience.
Read our guide for quick tips to deliver a seamless borrower experience.
1. https://www.housingwire.com/articles/mortgage-lending-volume-in-2020-likely-to-break-records/
2. https://www.jdpower.com/business/press-releases/2020-us-primary-mortgage-origination-satisfaction-study
