TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1205400
14 | M R EP O RT COVER STORY S oftware developer Jeff Atwood once said of technology, "We have to stop optimizing for programmers and start optimizing for users." Where will technology take mortgage next? Will we ever reach a point where buying a home is as easy as buying Christmas gifts on Amazon? Fannie Mae's latest Mortgage Lender Sentiment Survey reported lenders saying they want to see an improved front-end consumer experience. The survey noted 44% of lenders polled want to see front- end consumer experience improved and 18% said they feel back-end operational efficiencies are most important. Kimberly Johnson, EVP, COO, Fannie Mae, and the author of the piece, said, "Digitization is rapidly changing how organizations create value and compete." For this month's cover story, leaders from Flagstar Bank, Planet Home Lending, and more recently discussed the future of technology with MReport, including its current impact points and what challenges could arise in the years to come. The Growth of the iBuyer A report by Redfin in December 2019 found that iBuyers purchased 3.1% of homes during Q 3 2019 across 18 markets—up 1.6% from prior years. Raleigh, North Carolina, was home to the largest share of iBuyer purchases at 6.8%, followed by Phoenix at 5.1%, Atlanta, Georgia's, 4.4%, and Charlotte, North Carolina's, 4.3%. Nima Ghamsari, CEO, Blend, said the housing industry needs to Optimizing Homebuying From eMortgages to the influence of Amazon on customer expectations, the mortgage industry is working to adapt to the evolving needs of homebuyers. By Mike Albanese