Loan Officers and the Age of Digital Home Lending

Read Time: 3min
Last Updated: 5/24/2021

As we’ve detailed the Wyndham Capital Mortgage Digital Advantage, we’ve taken a high-level look at what that entails and how it trickles down across the board. We’ve also done a deep dive into the benefits for a borrower to work with a company focused on digital home lending. But there’s another group whose day-to-day has improved since the shift away from the “old school” mortgage way of business: the loan officers.

Wyndham Capital loan officers have the backing of digital home lending robotics, technology and AI processes, just like borrowers. But for them, these digital advantages allow for a reduction of menial, time-consuming tasks and an increase in the ability to focus on what is most important: helping borrowers receive the best service and experience every single time.

The advantages start even before the first contact with the borrowers. Through processes such as digital database mining and online agent networking, high-quality leads are automated and distributed to loan officers when they come in, not when somebody can manually get to them and go through the paperwork to assign.

With this perpetual wheel of quality leads that has joined the home loan process in its tech-focused innovation, loan officers have a head start in filling and working with their pipeline.

And from that very first contact, loan officers are steps ahead of what they would be in the past, with extensive informational and pre-approval knowledge in their hands when they make the first contact with the borrowers.

Instead of working to set up a phone call introduction where they have to start with “tell me about yourself…”, our loan officers have crucial data and background information at their fingertips when they reply to the borrower.

Throughout the process, much of the behind-the-scenes work is done via robotics ingrained in Wyndham Capital’s systems, which not only speed up the time needed to complete a task but also erase the time between tasks.

For instance, applications or pre-approvals that arrive into the system on weekends, at night or over holidays are no longer put in a holding pattern until someone is in the office to process. The robotics are working around-the-clock to ensure that the moment a loan officer is ready to begin work on a loan application, they have it at the ready and can begin offering the best options to the borrowers.

Loan officers can work smarter and be more efficient throughout their workday, having the time to focus on the actual process rather than the paperwork. Not to mention, it’s what homebuyers expect in today’s digital climate – the vast majority of their purchase decisions and purchase processes are digitally-driven, so why would they accept their home lending and mortgage processes to still be working with an old school mindset?

If there’s a question – they want a loan officer who can “meet” with them when and how they prefer, whether it’s through email, video, online chat, etc. If they are ready to move forward within the process, they want to work with a company that offers the convenience to do so with ease. The digital advantage from Wyndham Capital does just that – and more.

Meeting and exceeding these customer expectations is another pillar in the advantages for loan officers. When they are able to use the technology of Wyndham Capital to provide next-level service to borrowers, they can close more loans and build on an already stellar service reputation with the company.

Now, let’s take a minute to talk about those robots. The robotic processes performed behind-the-scenes at Wyndham Capital are essentially the menial task completers that used to pull loan officers into a bog of paperwork, handwork and slow work. From borrower information gathering to processing, robotics have freed loan officers from this speedbump on the way to closing a loan.

Not only is their time more focused, but so is their expertise. Wyndham Capital allows for knowledge building in the most crucial parts of a loan officer’s job to take precedent throughout their career, giving them a faster path to the important experience-growing goals. This makes them better at their jobs in the long run, while also making the process smoother and easier for borrowers.

The Wyndham Capital digital advantage is an asset to all involved, including loan officers. Working together with the robotics, AI and other technologically driven benefits, they achieve success without sacrificing time or freedom.

Interested in learning more about how Wyndham Capital can help you achieve your home lending goals?

Matthew Harris is the Internal Communications Manager at Wyndham Capital Mortgage. With over 11 years of experience writing and creating content about topics from sports and culture to financial systems and business, Matthew brings his expertise to the mortgage industry. Matthew oversees Wyndham’s internal communication and content strategies to help drive the internal messaging and creating content that gives both employees and borrowers relevant and reliable information to help them make informed homebuying, selling and refinancing decisions. Matthew has a Master’s Degree in Communications from Purdue University and a Bachelor's Degree in Journalism from Appalachian State University. His interests include social media marketing, content creation and catching the occasional sports game.

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