Two data points arrived this week that, individually, are significant. Together, they draw a line through the future of Canadian lending that every executive can read.
Meta: A 200-year-old bank just told the financial world that banking hours are optional. If you are still running your lending operations as if it were 2015, BMO's announcement should feel less like news and more like a starting pistol.
On March 24, Bank of Montreal announced a partnership with CME Group and Google Cloud to launch a tokenized cash and deposit platform built on Google Cloud Universal Ledger (GCUL). The deal makes BMO the first bank to offer CME's tokenized cash solution, enabling institutional clients to convert U.S. dollars into digital instruments that settle around the clock, independent of traditional banking windows.
The Bank of Canada just did something it hasn't done since August: absolutely nothing. And the mortgage industry should be relieved.
The next revolution in mortgage technology isn’t happening at the front end. It’s unfolding after the loan funds. The future of servicing will be defined by intelligent systems that manage themselves, connecting borrowers, lenders, and investors in real time through AI.
Mortgage closer training is a form of continuing education designed to prepare individuals to accurately and efficiently close mortgage loans. This type of training typically covers topics such as loan documents, closing procedures, title insurance, escrow accounts, and other topics related to the mortgage closing process. It is typically offered by mortgage lenders, title companies, and other organizations that specialize in the mortgage industry.