Lending Tools for a New Generation of Homeowners: eMortgages


By Keith Kelly

Screen Shot 2014-05-29 at 3.48.36 PMAs a product of the 80’s I have seen many trends come and go, but one that appears to have survived is the belief that the next generation can solve today’s seemingly intractable problems, usually by learning from past mistakes. When I refer to the next generation in this context, I’m including both people and technology.

I can remember talking about eMortgages back when first I entered the mortgage business twenty-eight years ago. We were still using carbon paper disclosures and had just begun allowing fax documentation. My children belong to the app generation and want to click for instant results without paper entanglements.

Today, paperless electronic mortgages are a reality. And knowing how to use them can be especially advantageous for credit unions, which are typically more nimble and embrace change more easily than the big box lenders that are often their primary competition in local operating markets. 

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