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Mortgage Broker News | 08 Sep 2016, 08:15 AM Agree 0
FinTech is expected to revolutionize business and, indeed, the broker channel. A recent report delves into some of those developments, including some trends brokers need to know about
  • Ron Butler | 08 Sep 2016, 12:09 PM Agree 0
    There was a great quote from a long term silicon valley angel investor in Forbes last week: "Banks think throwing money at Fintech will buy them the future, it won't, banks are not natural disruptors like we are"

    Don't get me wrong banks have the incredible advantage of being rich. It is a huge plus. They have the cheapest source of capital which is an even bigger plus. They have the disadvantages of legacy (branches), inefficiency (meetings to schedule other meetings) and the need to constantly achieve big profits (UBER loses a billion a year) all that being said the cost of capital likely leaves them in the drivers seat.

    I think mortgage brokers need to be nimble and concentrate on speed and efficiency, impress clients by how fast you can process applications and get results, manage docs digitally and work on a mobile basis.
  • Broker | 08 Sep 2016, 04:13 PM Agree 0
    Broker lenders need to wake up and support e-signing and photo documents or THEY will be left behind.
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