• About
  • Blog
  • Contact
Tuesday, October 3, 2023
No Result
View All Result
The Daily Buzz
  • Home
  • Alternatives
  • World
  • Politics
  • Business
  • Science
  • Tech
    • All
    • Activate
    Streamline Your Production: Exploring Manufacturing ERP Software Solutions
    Streamline Your Production: Exploring Manufacturing ERP Software Solutions
    Key Custom Software Development Benefits That All Should Know
    Key Custom Software Development Benefits That All Should Know
    Are There Different Types of Data Science Certifications?
    Are There Different Types of Data Science Certifications?
    Top 6 Photo Background Replacement Solutions for Beginner Creators
    Top 6 Photo Background Replacement Solutions for Beginner Creators
    How Dynamic Application Security Testing Helps in Regulatory Compliance
    How Dynamic Application Security Testing Helps in Regulatory Compliance
    12 Free Remote Desktop Software Tools You Need to Know
    12 Free Remote Desktop Software Tools You Need to Know

    Trending Tags

    • Activate
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    The Main Trends of Recent Years That Make Games Unique
    The Main Trends of Recent Years That Make Games Unique
    What Is The Role of Mediation in Resolving Sports Disputes?
    What Is The Role of Mediation in Resolving Sports Disputes?
    Leveraging Tech to Boost Your London Marathon Charity Fundraising
    Leveraging Tech to Boost Your London Marathon Charity Fundraising
    Creating Your Beats: Tips and Tricks for Making Electronic Music
    Creating Your Beats: Tips and Tricks for Making Electronic Music
    The Semi-Auto Offside Technology Explained
    The Semi-Auto Offside Technology Explained
    Mike Fleiss Reveals His Latest Projects
    Mike Fleiss Reveals His Latest Projects
    Is Instagram API Pricing Worth the Investment?
    Is Instagram API Pricing Worth the Investment?
    Get Hooked on These 7 Gripping Manhwa Series on Mangakakalot in 2023
    Get Hooked on These 7 Gripping Manhwa Series on Mangakakalot in 2023
    Is Artificial Grass a Green Revolution or an Eco-challenge? Evaluating the Pros and Cons of Artificial Turf
    Is Artificial Grass a Green Revolution or an Eco-challenge? Evaluating the Pros and Cons of Artificial Turf
  • Lifestyle
    • All
    • Fashion
    • Fitness
    • Food
    • Health
    • Health Care
    • Home
    • Travel
    Women’s Pyjamas Buying Guide: Finding Comfort and Style for Sleep
    Women’s Pyjamas Buying Guide: Finding Comfort and Style for Sleep
    Brighten Your Path with Solar Bollard Lighting: A Greener Way to Illuminate
    Brighten Your Path with Solar Bollard Lighting: A Greener Way to Illuminate
    The Skinny on Skinny Jeans: Why They’re So Flattering
    The Skinny on Skinny Jeans: Why They’re So Flattering
    The Evolution of Commercial Furniture: Top 10 Must-Have Pieces for 2023
    The Evolution of Commercial Furniture: Top 10 Must-Have Pieces for 2023
    Improving Quality of Life: Managing Chronic Conditions with Home Testing
    Improving Quality of Life: Managing Chronic Conditions with Home Testing
    The Most Unusual and Offbeat Hotels and Accommodation in Europe
    The Most Unusual and Offbeat Hotels and Accommodation in Europe
    10 Ways to Tell That Your Partner Is Cheating
    10 Ways to Tell That Your Partner Is Cheating
    Playa del Carmen’s Culinary Delights: Exploring the Food Scene
    Playa del Carmen’s Culinary Delights: Exploring the Food Scene
    The 10 Most Common Dental Problems and Treatment
    The 10 Most Common Dental Problems and Treatment
    Teeth Whitening for Sensitive Teeth: Tips and Products
    Teeth Whitening for Sensitive Teeth: Tips and Products

    Trending Tags

  • Home
  • Alternatives
  • World
  • Politics
  • Business
  • Science
  • Tech
    • All
    • Activate
    Streamline Your Production: Exploring Manufacturing ERP Software Solutions
    Streamline Your Production: Exploring Manufacturing ERP Software Solutions
    Key Custom Software Development Benefits That All Should Know
    Key Custom Software Development Benefits That All Should Know
    Are There Different Types of Data Science Certifications?
    Are There Different Types of Data Science Certifications?
    Top 6 Photo Background Replacement Solutions for Beginner Creators
    Top 6 Photo Background Replacement Solutions for Beginner Creators
    How Dynamic Application Security Testing Helps in Regulatory Compliance
    How Dynamic Application Security Testing Helps in Regulatory Compliance
    12 Free Remote Desktop Software Tools You Need to Know
    12 Free Remote Desktop Software Tools You Need to Know

    Trending Tags

    • Activate
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    The Main Trends of Recent Years That Make Games Unique
    The Main Trends of Recent Years That Make Games Unique
    What Is The Role of Mediation in Resolving Sports Disputes?
    What Is The Role of Mediation in Resolving Sports Disputes?
    Leveraging Tech to Boost Your London Marathon Charity Fundraising
    Leveraging Tech to Boost Your London Marathon Charity Fundraising
    Creating Your Beats: Tips and Tricks for Making Electronic Music
    Creating Your Beats: Tips and Tricks for Making Electronic Music
    The Semi-Auto Offside Technology Explained
    The Semi-Auto Offside Technology Explained
    Mike Fleiss Reveals His Latest Projects
    Mike Fleiss Reveals His Latest Projects
    Is Instagram API Pricing Worth the Investment?
    Is Instagram API Pricing Worth the Investment?
    Get Hooked on These 7 Gripping Manhwa Series on Mangakakalot in 2023
    Get Hooked on These 7 Gripping Manhwa Series on Mangakakalot in 2023
    Is Artificial Grass a Green Revolution or an Eco-challenge? Evaluating the Pros and Cons of Artificial Turf
    Is Artificial Grass a Green Revolution or an Eco-challenge? Evaluating the Pros and Cons of Artificial Turf
  • Lifestyle
    • All
    • Fashion
    • Fitness
    • Food
    • Health
    • Health Care
    • Home
    • Travel
    Women’s Pyjamas Buying Guide: Finding Comfort and Style for Sleep
    Women’s Pyjamas Buying Guide: Finding Comfort and Style for Sleep
    Brighten Your Path with Solar Bollard Lighting: A Greener Way to Illuminate
    Brighten Your Path with Solar Bollard Lighting: A Greener Way to Illuminate
    The Skinny on Skinny Jeans: Why They’re So Flattering
    The Skinny on Skinny Jeans: Why They’re So Flattering
    The Evolution of Commercial Furniture: Top 10 Must-Have Pieces for 2023
    The Evolution of Commercial Furniture: Top 10 Must-Have Pieces for 2023
    Improving Quality of Life: Managing Chronic Conditions with Home Testing
    Improving Quality of Life: Managing Chronic Conditions with Home Testing
    The Most Unusual and Offbeat Hotels and Accommodation in Europe
    The Most Unusual and Offbeat Hotels and Accommodation in Europe
    10 Ways to Tell That Your Partner Is Cheating
    10 Ways to Tell That Your Partner Is Cheating
    Playa del Carmen’s Culinary Delights: Exploring the Food Scene
    Playa del Carmen’s Culinary Delights: Exploring the Food Scene
    The 10 Most Common Dental Problems and Treatment
    The 10 Most Common Dental Problems and Treatment
    Teeth Whitening for Sensitive Teeth: Tips and Products
    Teeth Whitening for Sensitive Teeth: Tips and Products

    Trending Tags

No Result
View All Result
The Daily Buzz
No Result
View All Result
Home Business

New Mortgage Tech to Grow Your Real Estate Business

by The Daily Buzz Team
in Business
3 min read
New Mortgage Tech to Grow Your Real Estate Business

The COVID-19 pandemic is making changes throughout every industry as businesses and consumers try to navigate the new normal. Mortgage lending and real estate top the list for technological advances.

People are still working, seeking home loans, and purchasing real estate for commercial and residential purposes. What’s changing is how they accomplish financial transactions and sales. Many 2020 trends are a result of social distancing and limiting in-person contact.

Contents

More Automation

The real estate industry, including mortgage lending, has always been a people-oriented industry. Buyers would typically go to their bank or broker, shake hands, sit down, and go over financial records for an hour.

Depending on the complexity of needs, this process could take several hours or multiple appointments involving several or more loan specialists.

This is just the first step of the process. Buyers meet with real estate agents, visit several homes or buildings, exchange pleasantries with property owners, and head back to their financing professionals to make the purchase.

From here, you can repeat several of the original steps regarding finances, documents, and signatures.

In the age of COVID-19, these are too many face-to-face interactions that increase exposure for all parties. Industry leaders realized quickly that they need to streamline these transactions for minimal hands-on work that doesn’t extend the already lengthy process of purchasing property.

Enter automation. With the use of AI, or artificial intelligence, financers can remove the human paperwork element without dehumanizing the process and save everyone’s time and money.

It may seem that the vertical assembly line for mortgages and home buying reduces the personal touch consumers expect with large purchases. However, loan officers, brokers, and real estate agents can still offer warm, human interaction in phone calls, including video chats and through email and other forms of digital communication.

Remote Online Notarization

When the pandemic hit, mortgage lenders, loan specialists, and real estate agents hit a wall with one essential part of their job-notarization.

A simple purchase document might require 10 to 15 signatures from each purchaser, including married couples. Even a refinance loan with two signers can add up to over 20 notarized pages.

Multiple sales and more complicated loans for businesses and other enterprises can see double or triple that number.

International transactions and similar situations have been pushing for remote online notarization for years. COVID-19 has increased this need by ten-fold. Businesses and consumers need a path that allows for verified signatures without dangerous interactions.

Enter live video conferencing where all can view the transactions.

By handling information via video, the lenders and purchasers satisfy all regulatory compliance. Additionally, a physical record of all participants is available for years in the future.

Remote online notarization adds more security and documentation than in-person transactions. For many people in the industry, this bonus offers more protection for all parties involved in the sale.

Fully Digital Service

Even with all the changes from technology over the past few decades, nothing has removed the human element from securing a mortgage. Applicants can apply over the phone or online.

Still, signatures and the need for original documentation has always required some in-person interactions. In a world where people are always seeking instant gratification, the delays that involve waiting for meetings and signatures can cost some lenders money.

Companies and consumers have been seeking these changes since before COVID-19. However, the pandemic has sent the quest for complete digitization or end-to-end digital home purchase transactions on hyperspeed.

These technological advances are ideal for many in the mortgage industry, including small lenders that have traditionally had a hard time competing with large financial institutions.

In addition to making businesses and consumers happy, streamlining the process with technology can reduce errors. Most mistakes are caused by people, even when inputting information. Using advances such as AI and videoconferencing can reduce and also eliminate most errors, saving time and money for everyone.

Some of these changes may not be necessary when a vaccine and effective treatment is available for COVID-19. However, don’t expect these technological advances to go away.

As lenders, sellers, and buyers find these more effective ways to complete transactions, many of the changes that streamline the process for all parties are most likely here to stay.

The Daily Buzz Team

The Daily Buzz combines the pursuit of interesting and intriguing facts with the innate human desire to rank and list things. From stereotypical cat pictures to crazy facts about the universe, every thing is designed to help you kill time in the most efficient manner, all while giving you something to either laugh at or think about!

  • The Daily Buzz Team
    https://the-daily.buzz/author/admin/
    Women's Pyjamas Buying Guide: Finding Comfort and Style for Sleep
  • The Daily Buzz Team
    https://the-daily.buzz/author/admin/
    Brighten Your Path with Solar Bollard Lighting: A Greener Way to Illuminate
  • The Daily Buzz Team
    https://the-daily.buzz/author/admin/
    The Skinny on Skinny Jeans: Why They're So Flattering
  • The Daily Buzz Team
    https://the-daily.buzz/author/admin/
    8 Reasons Why Commercial Lawyers Are Vital for Local Businesses

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Like us & Receive Daily Updates

Trending Now

  • Women’s Pyjamas Buying Guide: Finding Comfort and Style for Sleep
  • Brighten Your Path with Solar Bollard Lighting: A Greener Way to Illuminate
  • The Skinny on Skinny Jeans: Why They’re So Flattering
  • 8 Reasons Why Commercial Lawyers Are Vital for Local Businesses
  • How to Optimize Inventory Levels for a More Efficient Supply Chain
  • About
  • Blog
  • Careers
  • Contact
  • Our Team
  • Privacy Policy

© 2020 The-Daily Buzz

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Movie
  • Music
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food
  • Our Team
  • Contact
  • About
  • Privacy Policy

© 2020 The-Daily Buzz