Mortgage industry advisory STRATMOR Group recently shared key findings from its 2024 Technology Insight Study (TIS), indicating significant growth in digital technology adoption across mortgage lending, particularly in automation and artificial intelligence.
The article, “Laying the Foundation for a Seamless Digital Mortgage Experience,” features STRATMOR Senior Partner Nicole Yung exploring the growing role of automation, artificial intelligence (AI), and machine learning (ML) in the industry, offering valuable insights for mortgage lenders navigating this shift.
“Mortgage lenders are increasingly investing in automation and AI as foundational technologies to improve efficiency and productivity,” Yung said. “This represents a fundamental transformation in how mortgage operations are being conducted.”
STRATMOR’s Technology Insight Study comprises two modules: Lender Intelligence and Digital Innovation. Combined, they cover implementation and adoption levels for digital capabilities across the mortgage process.
A second article, “Elevate Your Mortgage Journey from a Service to an Experience,” quotes STRATMOR Customer Experience Director Mike Seminari, emphasizing the importance of turning mundane loan processes into memorable experiences, much like a fine dining experience, which can lead to increased trust, customer loyalty, and revenue growth.