Jeff Taylor is a 25-year+ veteran of the real estate industry, member of the board of the Mortgage Bankers Association (MBA), and Founder and Managing Director of Mphasis Digital Risk, which handles due diligence for the largest banks and mortgage companies
Today’s challenge for lenders is to harness technology to make the process safer, more convenient and faster without losing sight of the need for human touch. While they trust smartphone apps to find a good restaurant, get directions or event hunt for a home, many borrowers still want contact with an experienced person to help guide them through the mortgage process.
“There’s no question that the housing sector continues to be a major driver of growth and recovery in the U.S. economy,” Taylor says. “It’s important to remember how far we’ve come in a decade. The fact that the American dream of owning a home is once again considered a smart investment suggests the housing market has years of strong performance ahead of it – provided that more borrowers clearly understand the criteria and pathway to obtaining a mortgage.”