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With all the buzz around implementations using technology and a digital loan process, some say the role of the loan originator (LO) may be diminished, if not eliminated.
Recent studies have shown that, although many homebuyers want access to a digital process that is online, they still want the comfort and certainty of having a human being available for assistance when needed. That human being is the LO.
So, for now, the LO remains in loan originations.
US Bank just announced their system for doing just that. They’ve introduced their proprietary system that will integrate a digital loan application and processing while providing access to real live loan originators.
This hybrid allows their borrowers the convenience of self-service with the comfort of online support. The best of both worlds!
Technology can and will streamline and simplify operations. That makes your staff more efficient and productive and will ultimately reduce costs.
However, technology alone won’t to the trick. You still need good products, at competitive rates, with good old fashion customer service, and a personal touch available, when needed.
LoanLogics can help with the technology. You’ll need to provide the customer service and support to your customers.
Teamwork.
