Servicers are still trying to figure out how they can best take advantage of the growing use of electronic notes and other digital mortgage tools by lenders and the secondary market.
The Golden Contract Coalition, formed in mid-2016 to get community banks better deals with the “big three” core systems vendors, said banks need help with buying from fintech sellers as well.
The big four core vendors have had little incentive to innovate in recent years. But newer competition will force them to update their technology if they wish to survive the digital age.
Digital mortgages transform the customer experience with slick user interfaces and data integrations that streamline the process of getting a borrower hooked up with a lender. Now it's time to disrupt the rest of the process.
The two companies have created a robo-adviser with financial literacy tools to help people understand the basics of investing as they assemble their first portfolio.
