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.