FinTech lenders seem like a competitive threat, but are they really? Are these new lending models just a case of “pay no attention to the man behind the curtain”, or are they really positioned to “disrupt” our industry?
The answer: most likely not in the way you expect. FinTech lenders are promising improved user experience and efficient processes, but the mainstream isn’t as far behind as many think. GSE initiatives are focusing on new technologies that will both streamline origination and (in their view) improve quality. This trend will allow traditional lenders to catch up – IF their tech vendors and technology managers are up to it.
Contact Newbold Managing Director Frank Poiesz to gain a practical perspective on new developments in loan origination technology.