How Servicers Can Deliver the Human Element of Push-Button Mortgages — Part 1

As consumers, our expectations are sky-high. We demand same-day (or *gasp* next-day) delivery for most online orders. Our favorite series should stream instantly at the moment of release, and bank transactions must be processed the moment we click “submit.”

Expectations in mortgage are equally high. For servicers in our complex industry, delivering on these expectations means offering seamless homeowner self-serve plus smart human advice at the push of a button. Sagent’s CEO Dan Sogorka recently discussed these and other fintech intricacies with MReport. Here are a few excerpts from part 1 of that series.

Dan had this to say about navigating today’s challenging market with wide eyes on the future:

In an acute market cycle adjustment like the one we’re seeing now, winning processes and tools will combine tech expertise with deep operational knowledge of the needs and challenges of servicers and their customers.

The future will be centered around cloud-native, open-API models that give banks and lenders optionality, cost control, and the ability to be sympathetic and responsive to the customer. That not only creates better customer experiences, but it has significant cost-saving implications by reducing the need to reacquire lost customers.

MReport surmised that providers who don’t leverage technology to offer instant gratification might as well “be driving potential business to the next shop.” 

 

Dan observed that the successful approach for servicers now and going forward is to embrace human engagement with customers while providing the self-serve convenience they expect.

At Sagent, we empower our customers to combine digital simplicity with smart human advice at scale. That human touch will always play a role in the mortgage process, and the right digital tools need to drive that effective engagement with customers—not push it away. On the servicing side, we don’t want to lose sight of the fact that our customers serve human beings through good times and bad.

He continued, “Engaging on a person-to-person level, working to understand their situation and intent, and providing them the tools to manage their loans is an absolute necessity for servicers today, and will continue to be so in the future.”

You can find part 1 of this MReport series here, and watch for our take on part 2 coming soon! 

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