‘Consumers want a digitized home purchase transaction’: Technology is transforming the mortgage
- Home financing is one of the last holdouts for full digitization.
- That's all changing as new options and companies entered the market.
Technological advances in home financing are coming from a variety of directions. Small lenders are getting access to end-to-end digital mortgage technology. Online real estate listings companies, like Zillow, are moving squarely into the home buying process, including offering mortgages. Startups are also experimenting with novel alternatives to mortgages. Competition in the mortgage lending industry is giving consumers more options and squeezing profits for lenders.