How Mortgage Automation Could Help Counter the Market Slowdown in 2022

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This is where technological improvements could make a big difference. Indeed, mortgage origination has already slowed.

Mortgages fell for the third straight month in November, according to a recent report from Black Knight. Overall rate-lock volumes fell nearly 5% in the month — a trend consistent with the Fed’s announcement that it would scale back its purchases of mortgage-backed securities and Treasury bonds. The new Omicron variant was also a factor, Black Knight Secondary Marketing Technologies President Scott Happ said in December.

Beyond that, however, the technology could have a lasting impact on the industry. Mortgage technology and advances in automation could turn loan officers and mortgage brokers into obsolete career choices, Souren Sarkar, CEO of Miami-based IT consulting firm Nexval, told Mortgage Professional America recently. .

“It’s probably just a matter of time. I see this as inevitable as driverless cars in the future,” Sarkar said.

Who does it best?

Anderson said Blend Labs (BLND), which launched its IPO in July, is an example of a company that excels in automated mortgage technology. The mortgage software innovator had a banner year in 2020, thanks to low interest rates resulting from the pandemic and the resulting growing demand for online financial services.

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