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Mortgage lenders cite top challenges and concerns

A lack of qualified buyers is a key issue.

From the economy to high expenses and rising interest rates, mortgage lending professionals have plenty of concerns.

Not surprisingly, respondents to a survey conducted by National Mortgage News, an Arizent publication, said they see technology as a crucial component to remain competitive and increase efficiencies.

This report from National Mortgage News and Hyland — Positioning mortgage lenders for growth, now and in the future — features insights from industry experts about the top issues facing their businesses. Some key takeaways:

  • Among the biggest concerns is a lack of qualified buyers.
  • Lenders are investing in technology to help address their evolving challenges.
  • Many industry experts believe automation is the key to streamlining workflows.

Download the report to get intriguing survey findings such as this: One in five mortgage firms plans to spend more than $1 million on their online presence in the next year.

A strategic approach is vital, and having quality vendor partners and technology providers is a crucial component.