Three Key Questions This Report Will Answer:
WHAT’S IN THIS REPORT? In this report, Insider Intelligence will unpack how digitally advanced nonbanks and alt lenders have transformed mortgage lending with a complete end-to-end online mortgage application and fast approval process, including QuickenLoans, loanDepot, and SoFi. Next, we share how legacy players are responding to this disruption by unveiling their own digital mortgage offerings since the beginning of 2018, including: Wells Fargo, Chase, BofA, SunTrust, TD Bank, Ally Bank, and US Bank. Finally, we make recommendations as to the steps remaining banks should take to digitize their mortgage application offering and secure their market share.
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