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Mortgages? There (should be) an App for that

Tuesday, November 3, 2015

Mortgage lenders may be missing out on an opportunity to offer consumers something they are asking for - a wider use of mobile technology in the mortgage process.  Fannie Mae says its National Housing Survey (NHS) has shown a desire on the part of consumers to shop and apply for a mortgage via their mobile devices.  At the same time the company's Mortgage Lender Sentiment Survey (MLSS) indicates that lenders still favor more traditional channels such as using loan officers, brick and mortar branches, and third party partnerships.

Steve Deggendorf, Fannie Mae's Director of Business Strategy, writes in the FM Commentary blog that mobile devices are increasing used for a variety of financial transactions including bill payments and banking but are less common in the mortgage space.

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