Mortgage Tech

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Technology Has Revolutionized The Mortgage
Industry
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• As technology has turned into an important aspect
  everywhere, the housing industry, too, has been
  bitten by the technology bug. The mortgage
  industry provides massive opportunity to
  technology in every step of the process. This
  includes how consumers shop for loans,
  origination, underwriting, funding, and
  syndication.
• The online search is regarded as the most
  effective method of finding a home for
  prospective home buyers. With increasing number
  of lenders digitalizing the process, right from
  application to closing, there is a digital
  transformation in the mortgage industry. 
• There is a major transformation with online form
  submission and digitized documents turning into a
  norm. Technology is playing a vital role in
  reforming the mortgage industry and is helping
  both lenders and borrowers to ensure safer and
  quicker lending process.
• FundingShield is a name to reckon with when it
  comes to mortgage tech. It specializes in
  mortgage and title fraud prevention. This ensures
  that the wired funds are going to the intended
  recipients. They also ensure transactions are
  free of impact from cyber fraud, phishing,
  business email compromise, or title fraud.

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Advantages Of Technology In The Financial Sector

• 1. Optimized Process
• It usually takes several days to complete
  the loan process from start to finish. Most of it
  is consumed in obtaining an underwritten loan
  approval from the lender. In todays fast-paced
  world, where groceries ordered from an online
  store get home-delivered within hours, this can
  seem too long a process.
• Technology is being utilized optimize this
  process by enabling applicants to gain a
  self-guided experience. Real-time assistance from
  the designated loan officers to the borrowers on
  their smart phones helps mortgage companies
  deliver an improved experience. This also gets
  rid of the monotonous task of obtaining the
  exhaustive documentation from their clients.
• 2. Enhanced Experience
• With advanced technology of fintech in
  place, the cumbersome task of filling several
  forms and collating a number of financial records
  has become easier than ever. This gives rise to
  better coordination and simplifies the tedious
  collection and verification processes.

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• 3. Better Transparency
• Access to this information through technology
  has made it easier for the borrowers to get the
  latest information on their loan status in just a
  few clicks. When they are able to access a
  complete list of required documents and interact
  regularly with the loan officers, the level of
  transparency is increased, and it also boosts the
  trust between the borrowers and the mortgage
  firms.
•       FundingShield makes sure that there are
  valid documents, and vendors compliant with
  regulations. It also sees that the insurance
  coverage protecting lenders, real-estate
  investors and consumers are enforceable. This
  leads to a fruitful and pleasurable experience of
  the mortgage industry.