The home lending industry is in the early stages of digital disruption that retail deposit, credit card, and personal lending sectors have already experienced. New Big Tech and fintech market entrants are now putting significant pressure on the old home equity, purchase mortgage, and refinance mortgage business models that continue to be inefficient.

Traditional lenders can survive the transformation underway if they see how the business model is changing, abandon old strategies and ways of doing business, and build a modern mortgage technology platform on which to defend and grow their business.

This new mortgage origination platform of the future will open up lending operations, improve the customer experience while lowering processing timelines and costs, and enable consolidation of redundant systems.