Blog About MortgageHippo, Mortgage Information

It’s the Mortgage Industry’s Turn

The year is 2018, and I don’t know if you’ve noticed, but the world has changed quite a bit over the last few years. Nowadays people don’t take a cab, they uber it. People don’t stay in hotels, they airbnb it.

Why are these startups so successful at disrupting traditional and established business models? Very simple: they use technology to eliminate process inefficiencies and remove costly intermediaries in the value chain. Oh, and they also make things very easy to use for consumers. It’s the new “consumer revolution,” as some call it.

However, much to the disadvantage of mortgage consumers, the mortgage industry has so far managed to escape the disruptive force of technological advancement. This industry still suffers from antiquated workflows that are not just costly and highly inefficient but are not in any way conducive to providing a satisfactory consumer experience. Borrowers today are still submitting documents through fax and email, mediums that lack proper security standards for transmitting sensitive information and lead to messy and disorganized transactions. Worst of all, borrowers today are still dazed and confused as they go through an overwhelming and confusing mortgage process.

But this is all finally changing with the emergence of innovative technology companies (like yours truly, MortgageHippo!) taking on the massive challenge of bringing mortgages into the 21st Century. Now it’s the mortgage industry’s turn for a long overdue focus on significantly improving the Borrower Experience. It’s the dawn of a new era for mortgages; one to which we refer as the age of no more:

  • No more obsolete and antiquated workflows that make lenders, loan officers and borrowers inefficient
  • No more obscurity in the mortgage process for consumers
  • No more disorganized transactions that lead to errors and delays

MortgageHippo’s digital lending platform is intuitive, easy-to-use and creates a smooth and efficient Borrower Experience. And this is just the beginning! Although calling this the beginning is really a misnomer, since this is a journey that probably has no end. Or do you ever really finish improving and innovating? I certainly hope not. As Jiro Ono – the 85-year-old master sushi chef – wonderfully phrased it in the documentary Jiro Dreams of Sushi:

“I do the same thing over and over, improving bit by bit. There is always a yearning to achieve more. I’ll continue to climb, trying to reach the top, but no one knows where the top is.”

 

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