As the mortgage industry enters a new era of automation, the traditional loan origination system faces extinction. The next generation of lending platforms won’t rely on screens and workflows; they’ll think, decide, and act autonomously.
Consumers increasingly trust AI to guide major life decisions, so the traditional mortgage point-of-sale (POS) is losing relevance. The next mortgage application will not begin on a website but in a conversation.
There's a moment in every poker game when someone pushes all their chips to the center of the table. Last week, RBC and TD did exactly that; except instead of chips, it was billion-dollar AI commitments with their names attached.
The mortgage industry is undergoing a profound transformation driven by digital innovation. A recent study by STRATMOR Group, the 2024 Technology Insight® Study, reveals a seismic shift: 48% of lenders are now leveraging Robotic Process Automation (RPA), and 38% are utilizing Artificial Intelligence (AI). This surge in technology adoption isn't just a passing trend; it's a fundamental change aimed at streamlining operations, enhancing borrower satisfaction, and ensuring competitive advantage.
In today's fast-paced mortgage industry, efficiency is key. Underwriters are constantly challenged to process a high volume of applications accurately and quickly. FundMore is designed to help lenders do just that by streamlining the mortgage process and improving productivity. Here are five ways FundMore empowers underwriters to process more files effectively: