Increasing regulatory oversight and record low mortgage rates are forcing lenders to evolve their business processes to handle the volume influx. Owing to the global impact of the COVID-19 pandemic, the overall mortgage origination process can now be associated with three major challenges; customer expectation, cost, and time-to-market. Loan Origination is what makes companies stand out from their competition in the crisis market. In the complexity of the origination process, each interaction point between the borrower and lender offers an opportunity to reduce “friction” and contribute to customer delight. A frictionless process can be achieved either by altering the steps of interaction or by adopting new technologies which enable seamless new business processes. Lenders are now realizing the need to design a banking experience, eliminating the key pain points and obstacles.
Nexval’s origination services ensure streamlined and transformed processes through automation and re-engineering. Nexval’s seamless origination blend results in reducing costs, ensuring high quality, and gaining efficiencies, all on a budget.