The Point

2018 Trends in Mortgage Lending: Getting the Borrower Experience Right


Nov  29 
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Joe Dombrowski  Director of Product Management, Lending Solutions, Fiserv 

Paper-based, clumsy or drawn-out mortgage origination and servicing processes confound borrowers, who expect the same digital experiences as when they get a latte at Starbucks or shop on Amazon. The need for an intuitive, frictionless digital borrower experience is increasingly key to lenders' success – and underpins every major mortgage lending trend in 2018.

More consumers than ever are using digital channels to complete parts of the loan process, from researching options to requesting a payoff amount. This year, we learned that 68 percent of borrowers would be comfortable going online to access loan statements and 23 percent would be comfortable using a smartphone to schedule payments, according to Expectations & Experiences: Borrowing and Wealth Management, the most recent quarterly trends survey from Fiserv.

With that in mind, what can mortgage lenders expect in 2018? Here are five trends to watch:

Threading the Needle

As we move into 2018, getting the borrower experience right has never been more important. New technologies are taking hold, yet consumers still value personal attention and counsel, especially with one of the largest purchases of their lives. Mortgage lenders that are able to successfully thread that needle in light of changing consumer expectations, emerging capabilities and shifting market conditions will likely find continued success.