An executive conversation with Kevin Wilzbach, as posted by HousingWire on 2/23/2023 What kind of impact has the overall deceleration of the mortgage market had on the adoption of digital technology over the past few quarters? Well, I guess the short answer is, it hasn’t helped. Two years ago, when the market was booming many lenders were too swamped to focus on digital transformation projects; now their focus is on cost reduction. Having said that, we’re seeing continued strong interest in evaluating and purchasing mortgage closing platforms. What we’re hearing is, “Give me a platform that will grow with me and provide me with a consistent operational workflow regardless of whether I am closing via paper, hybrid, or fully digital with an eNote.” Several of the country’s largest lenders are moving in this direction, having seen the value of digital closings in their refinance options over the past several years. We’re also seeing interest in technology and solutions that support home equity lending. Our IDS business, for example, has a real foothold in the home equity space with its credit union clients. And mid-last year, we introduced an OmniVault that supports digital HELOCs. Having said that, prospects are mindful […]
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