The Final Digital Frontier: How Vendors Are Helping Mortgage Lenders Transform

Vendors’ offerings focus not only on the borrower experience but also on driving efficiencies throughout the loan origination process.

Boston, March 31, 2021 –In 2020, demand for purchase and refinance mortgage loans surged as interest rates declined and consumers sought to upgrade their homes. At the same time, lenders had to pivot to a remote and more digital loan origination environment. Lenders with cloud-based solutions that more efficiently originate loans adapted to the new reality over the last year, while others struggled amid steep increases in volume. Mortgage lenders can no longer maintain the status quo. Can point-of-sale and loan origination vendors help them brave the digital frontier?

This report outlines some of the trends that have forced the mortgage loan origination process to transform. Based on interviews of 14 leading POS and LOS providers, as well as findings from Aite Group’s Q4 2020/Q1 2021 consumer lender survey, it profiles the following vendors: BeSmartee, Black Knight, Blend, Ellie Mae, Finastra, Fiserv, Floify, LendingPad, Maxwell Financial Labs, Mortgage Cadence, MortgageHippo, Origence, Roostify, and Wipro Gallagher Solutions.

This 29-page Impact Report contains three figures and 17 tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Byte Software, Calyx, Cloudvirga, Meridian Link, Mortgage Builder, OpenClose, and SimpleNexus.

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