The Next Stage In Mortgage Evolution: The Robotic Mortgage

By: Regina Musyl for Today's Lending Insight

Technology has become pervasive in the mortgage industry, with paper loan files quickly becoming a thing of the past. One of the biggest drivers in these technological advances is the desire to improve the borrower experience. Technology presents endless possibilities, and the demand for new functionality is immense. How can lenders afford to adopt new technology and keep the cost of origination down? The answer, for some, could be the Robotic Mortgage.

“Robotics”, or Robotic Process Automation (RPA), is the newest buzzword in the mortgage business, and it is changing the way we look at automation. To put it simply, RPA is technology that replicates repeatable actions or tasks that would otherwise be completed by a human, working in a single application or across multiple systems. Furthermore, with the use of robotics, tasks that are not linked by dependencies can now be performed simultaneously.