Three ways to instill confidence in your borrowers

"In this age of information, borrowers today expect speed, ease and transparency in their everyday transactions, and that extends to the mortgage process. In fact, a survey from the 2025 ServiceLink State of Homebuying Report (SOHBR) found that today's buyers would be more likely to select a lender that offered certain consumer-facing technologies simply because they are eager to play more of a role in the homebuying process."

"Not only do they want a more hands-on approach, but they also want confident assurance that the deal is moving along smoothly. A recent study by the National Association of REALTORS found that some 6% of home purchase contracts were terminated over the last three months, 12% of contracts had delayed settlements and 6% of contracts were delayed due to appraisal issues. Each of these hang-ups means additional time and money to originate and unhappy borrowers."

"So, how do today's lenders really instill confidence in their borrowers when the potential for snags is lurking around every corner? Here are three ways to boost not only their confidence, but their satisfaction levels as well. First, consider your mortgage tech stack and how you can further digitize and enhance areas where your consumer-facing processes are lacking. As the appraisal and signing are two of the only face-to-face touch points during the origination process, consider examining those first."

Borrowers expect speed, ease, and transparency in mortgage transactions. Buyers prefer lenders that offer consumer-facing technologies so they can play a more active role in the homebuying process. A National Association of REALTORS study found 6% of purchase contracts were terminated, 12% had delayed settlements, and 6% were delayed due to appraisal issues. Each delay increases origination time, costs, and borrower dissatisfaction. Lenders can instill confidence by digitizing consumer-facing touchpoints, prioritizing appraisal and signing. Real-time consumer scheduling enables self-serve appointment selection and preferred signing methods. Proprietary scheduling technology can shave days off timelines and provide educational information about what to expect in the process.

Read at www.housingwire.com