Many traditional mortgage lenders wonder if they’re becoming obsolete as new digital technologies come to the fore. It’s a question asked about many professions in the digital age, but the answer is a resounding no. The digital mortgage process isn’t designed to eliminate or remove a broker or brokerage team from the process, but rather to make sure that things run more efficiently with a much lower margin of error.
However, many traditional mortgage lenders are finding themselves in competition with digital mortgage services. Online mortgage companies may offer more competitive rates, faster approval times, and easy applications. But online mortgage operations can lack a human touch, which means traditional brokers can stay competitive by bringing their years of expertise to the digital mortgage process and opening up new opportunities for themselves.
Do online mortgage lenders have better rates?
While many online lenders offer competitive rates, adopting e-signature and other digital documentation methods can help save lenders and buyers money, further closing any rate gap. You can speed up signing and make it more convenient while limiting travel, offering a personal touch paired with the efficiency benefits of e-signatures.
With e-signatures, the faster turnaround time for important documents helps make customers happier and keeps documents better protected. Plus, they’re legally binding and accessible for members of your team and your customers. Within the lending and real estate process, there must be security and fraud protection, and with secure forms like the ones Acrobat Sign provides, documents can be secure and be tracked safely.