Why the mortgage business will never go 100% digital

So you’ve found your dream house. Now, where do you go for a home loan? Do you go with the lender your real estate agent recommends? They have just as much riding on this, so they should only refer you to the best in the business. Right? Or do you listen to Mom and Dad’s advice? After all, they’ve probably done this a few times, so they should know what they are talking about. Shouldn’t they?

According to the National Borrower Satisfaction Index produced by the Stratmor Group, those who were most fulfilled were those who made a connection of their own with their loan officer. He or she was personable, but also took the time to answer all their questions, listen to their concerns and walk them through every step of the loan process.

In the Stratmor study, 31% of the huge 10,000-borrower sample chose their officer based solely on “loan officer interaction.” And that group reported a 95 out of 100 when asked about their overall “borrower satisfaction.” “Their loan officers engaged with them and made them feel comfortable,” says the company’s senior partner, Garth Graham. It’s why he believes that loan officers — also known as “humans” — remain a central part of the loan process.