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When ServiceLink asked borrowers to name the biggest benefit of technology in the homebuying process, 72% said convenience and ease-of-use. Borrowers are also happy to self-service and interact digitally. And as Millennials and Gen Z enter their homebuying years, technology becomes even more important.
For today and tomorrow's borrowers, the traditional mortgage experience falls far short of expectations. There are multiple documents to sign—some in-person—and lots of waiting. And waiting. And borrowers often have no idea where their application is in the lender's pipeline or if they'll have to fulfill any last-minute requests.