Fintech
One area of growing importance in the housing industry is fintech, which integrates new types of technology into financial services companies, including lenders, mortgage brokers, and others, in order to improve how they deliver products and services to consumers. When it comes to the mortgage industry, fintech has recently helped to propel forward a number of innovative platforms to improve speed, simplicity, and efficiency when buying a home.
By integrating new fintech advancements into mortgage lending, the results may lead to higher application completion rates, faster closings, and better customer experiences — all of which are important for driving business, especially in a housing market experiencing a downturn like the one we are currently facing. Fintech advancements work to speed up data collection, streamline two-way communication, and simplify the experience for all parties involved.
With the mortgage market facing numerous challenges and continued margin compressions in 2022, which is expected to continue throughout 2023, lenders may benefit from the fintech advances that can help them better conduct their business, whether the goal is to scale their businesses on demand, create faster onboarding processes for new customers, or incorporate technological advancements into their digital operations.
Latest Posts
Black Knight reports slowing organic growth
Aug 04, 2022Ahead of a potential merger with rival Intercontinental Exchange Inc., mortgage tech giant Black Knight reported slimmer profits in the second quarter and slowing organic growth.
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FHFA opens fintech office and seeks feedback on mortgage fintech
Jul 19, 2022 -
Milo reaches $10M crypto-mortgage milestone
Jul 19, 2022 -
Shared-equity firm Point expands into two more states
Jul 14, 2022 -
Shared-equity fintech Unison expands Midwest operations
Jul 12, 2022 -
Qualia releases Qualia Connect for mortgage lenders
Jul 12, 2022 -
Clear Capital launches APIs to make adopting modern valuations solutions easier
Jul 05, 2022 -
Wyndham Capital Mortgage conducts two layoffs in June
Jul 05, 2022 -
Stake, a fintech that offers cash rewards to renters, raises $12M
Jun 30, 2022 -
Knox Financial to expand loan products with $50 million in funding
Jun 29, 2022 -
Mortgage startup Tomo offering 120-day rate locks
Jun 29, 2022 -
Sales Boomerang and Mortgage Coach merge
Jun 28, 2022