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Courtesy of Academy Mortgage

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How Technology Is Changing the Mortgage Industry

  • Mar 1, 2019

Ages ago, if you wanted to buy a house, you dropped by the local bank or mortgage lender and spoke to a Loan Officer. We say ages, but in truth it wasn’t too long ago that this was the normal procedure for applying for a loan to secure your dream home and begin building your future.

The landscape of lending and working with a Loan Officer has altered significantly since the Internet became the standard for worldwide communication. These days a Loan Officer can send, receive, and manage all the documents required to garner the right loan for someone seeking it without requiring a face-to-face meeting.

At Academy, for instance, we utilize our My Mortgage platform to ensure that our clients are quickly in touch with their Loan Officers, and vice versa, combining the latest technology with good old-fashioned advice from a real-life Loan Officer.

It doesn’t stop there. The beauty of My Mortgage is that it even works on mobile. As the saying goes, there’s an app for that. On the customer end, this chips time off the process further by wrapping important steps all up into a quick package, such as the capability to snap photos of your documents with your phone and then upload them all with the same device, eliminating bulky steps like transferring the files to your computer.

Even for Loan Officers at Academy, like top producer Umar Gebril, My Mortgage and My Mortgage: Mobile save time. “I use the online application system 100% of the time for my borrowers, and it saves me an average of 15-20 minutes per application, which equates to a tremendous amount of time per week.” In addition to saving time for Loan Officers, My Mortgage streamlines the mortgage process, resulting in quicker closings.

As technology changes, so too does Academy Mortgage. One of our primary objectives is to be at the forefront of each new wave, staying on the leading edge of theses changes, unlocking the potential of these new advancements and working them into our model.

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