Request a demo
Request a demo
Mortgage Cadence logo white

The 2018 Borrower Survey results are in, and you get the first look at our findings. Join Pamela and Michael as they turn the results into actionable insights.


Mortgage Cadence to integrate Finicity's asset verification solution with its loan origination software platform

DENVER and SALT LAKE CITY; May 31, 2018 – Mortgage Cadence, an Accenture (ACN) company, has signed an agreement to integrate Finicity’s Verification of Assets solution with its loan origination platforms, enabling clients to streamline and accelerate the loan process by generating a verification report with a single click, shaving up to six days off the traditional closing timeline.

The integration of the Finicity solution with Mortgage Cadence’s loan origination software platform is designed to further streamline and enhance the borrower experience. Borrowers consent to the use of their financial account data through a short online process, which then rapidly generates a verification report.

“Our goal as a financial data aggregator is to find best-in-class partners who are also committed to data access, quality and insights, and ultimately a better experience for borrowers,” said Steve Smith, Finicity CEO. “We’re excited to work with Mortgage Cadence to accelerate and improve the digital loan process.”

A leading provider of real-time financial data aggregation and insights, Finicity offers solutions that help lenders digitize and modernize the lending process, reducing friction for borrowers while providing better, cleaner data that reduces verification time to minutes instead of days. Upon consumer-permissioned account identification, reports can be generated in as little as 30 seconds.

“Our agreement with Finicity simplifies yet another important step in the mortgage process for both borrowers and lenders, getting everyone involved in the transaction to the closing table more quickly and with fewer steps,” said Brian Benson, executive manager of Services Center at Mortgage Cadence.

Finicity is an authorized, integrated provider of asset verification reports within Fannie Mae’s Desktop Underwriter®, giving lenders a validated asset report through Fannie Mae’s Day 1 Certainty™ initiative. Because Finicity is also part of Fannie Mae’s single source validation (SSV) pilot, Fannie Mae can use transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative. Finicity is also an authorized Freddie Mac asset validation report provider, and the two organizations are working together on new methods to validate income from payroll deposit data from bank statements.

About Mortgage Cadence:
Since 1999, Mortgage Cadence, champions of the lending process, have been providing the best people, process and technology for enterprise and mid-market lenders who desire to deliver an exceptional borrower experience. From point-of-sale through post-closing, Mortgage Cadence offers reliable software and dedicated people, supporting lenders every step of the way. For more information about Mortgage Cadence’s products and services, visit

About Finicity:
Finicity enables a financial data-sharing ecosystem that is secure, inclusive and innovative. Through its real-time financial data aggregation and insights platform, Finicity provides solutions for financial management, payments and credit decisioning, while also leading the development and promotion of industry standards. The company has developed more than 16,000 bank integrations, with the vast majority through connections that provide access to formatted bank data, improving information access and accuracy. Finicity was awarded API World’s 2016 Finance API of the Year and is a 2018 HousingWire Tech100 winner. To stay up to date on all Finicity company and product announcements, visit the website at

Mortgage Cadence's user conference, Ascent, aims to improve Borrower Experience with lenders & best-in-class service providers.

In April, a group of top lenders and best in class service providers from all over the country traveled to The Broadmoor in Colorado Springs to attend Mortgage Cadence’s annual user conference, Ascent, with the common goal of improving borrower experience. The three-day conference provided attendees with a variety of educational sessions, networking opportunities, and access to Mortgage Cadence staff. We were also sure to leave enough time for attendees to enjoy some Colorado craft beer while fly fishing amidst striking views of the Rocky Mountains.

The first full day of the conference focused on the hot topics impacting the industry today, including how to market to a new generation of homebuyers, GSE transformation, blockchain, and enabling a digital borrower journey. Highlights included Pamela Herrmann, VP of Marketing and Chief Storyteller at Mortgage Cadence, and Michael Malinowski, Accenture Thought Leadership Research Senior Principal, revealing the results of the 2018 Borrower Survey, a research project between Mortgage Cadence and Accenture. With a dynamic keynote presentation from Carla Harris, Vice Chairman of Wealth Management and Senior Client Advisor at Morgan Stanley, the audience was enlightened by her perspectives on the value of diversity in mind, experience, and ethnicity in the workplace.

Day two focused on Mortgage Cadence specific content, including the company’s next-generation plans and future product roadmap. While Loan Officers, System Administrators, and other key employees attended deep-dive sessions on the Enterprise Lending Center, Loan Fulfillment Center, Borrower Center, and Collaboration Center, Executive attendees participated in a full day mastermind facilitated by Accenture’s David Helin, Thought Leadership Research Director, addressing the latest research and discussing topics that matter most to the C-Suite.

All the sessions tied back to one underlying message: Higher profitability is tied to key people, fine-tuned process and the right technology working together to create a better borrower experience.

And the message seemed to hit home. One attendee said, “The content was very in tune with the challenges that we are facing in our company,” while another noted that the Executive Track “was a great foundation to building deeper relationships with my peers.”

The conference ended with a bang, literally, as the Denver Broncos drumline performed after the closing keynote.

Next year’s conference will be returning to The Broadmoor from May 14-16 where we’ll be celebrating Mortgage Cadence’s 20 year anniversary.

Improving the Borrower Experience through research and 3 key observations in lending.

Since 2016, Mortgage Cadence has been partnering with Accenture Research, polling American borrowers to determine what they were thinking, feeling and doing as they were moving through their mortgage application journey. In 2016, when we first asked borrowers to rate their borrower experience, more specifically their level of satisfaction with lenders, 45% said they were ‘very satisfied.’

Just two years later in 2018, that number declined to 39%, leaving a staggering 61% of borrowers who are, at the very best, indifferent about their lender’s performance. It’s safe to assume a low likelihood of future business, an online review, or a recommendation to a friend or family member with such a low satisfaction rate. In any commoditized market where customers are looking for the lowest rates and fees, there is only one thing that separates you from your competitors: the borrower experience your organization is delivering.

Most borrowers today aren’t loyal, and their indifference is preventing lenders from achieving real, sustainable growth. The barriers to a better borrower experience, such as a market transitioning to purchase-dominant and the complex regulatory environment, are real. Sales and revenue growth in your lending operations don’t happen without borrowers who are entrusting you to process their loan faster with less frustration. It’s good for them, and it’s good for your bottom line.


At a local level, lenders can take comfort in the fact that customers feel better about the relationship they have with their lender. The 2018 Borrower Survey of more than 1,500 U.S. banking customers revealed that 25% obtained their mortgage from their primary financial institution. According to Accenture Research’s 2017 U.S. Mortgage Market Trends, small lenders have, in fact, become a dominant segment, increasing their market share from 19% in 2010 to 50% in 2016.

This suggests a combination of great marketing by small financial institutions, fully engaged customers who want to keep their business with an organization whose employees they know, like and trust and a great technology stack that creates a better borrower experience.

But any investment in your people, process or technology in order to gain market share has to begin with an understanding of the borrowers’ journey from start to finish. It’s through mapping each borrower touch point that you begin to identify where they may fall through a gap.

Explore objectively the mindset and actions of your borrower at each stage; specifically, what are they thinking, feeling and doing.

It is at this point of understanding that you can determine the best investments in people, process and technology that ultimately supports your organization’s strategy.

In the absence of a borrower journey, you’re bound to fall back on digital and automation investments that aren’t designed to be a substitute for the human-to-human connection. This may, in fact, be the cause for a 6% satisfaction drop in two years.


To be clear, 70% of borrowers surveyed don’t care about meeting you face-to-face, however, they do want consistent personalized communication from real humans that things are on track to close as scheduled.

A highly personalized borrower experience that is fast, simple, transparent and secure across all channels, both online and offline, is a universal want of all borrowers.


If you think you’ve won the borrowers’ business because you have their application in hand, that may not be the case. According to our 2018 Borrower Survey, 49% of borrowers applied to more than one lender, and of those who submitted applications to multiple lenders, 72% did so because they found a better price.

What do you do when half of your borrowers are continuing to shop for a better price after they apply with you? Anything less than high touch from the moment you receive their application to the moment their signature is on the closing documents puts you at risk of losing the loan, and the customer. If you’re not competing on service than you’re competing on price, plain and simple.

The real opportunity for sales and growth is by providing to a borrower the education, resources, hand-holding and assurance they need, want and frankly deserve as they embark on this highly emotional journey of home buying. This is, after all, the largest purchase of their life. If lenders fail to make immediate contact with the borrower and work immediately to develop rapport, relationship and trust, then the borrower may easily be plucked by your competitor, mid-transaction, who is doing just that, only much better and faster than you are.

And, since you don’t get paid until the loan closes, if you fail to nurture them at every touch point and guide them on the journey, you risk not just lost revenue, but the added investment of labor and technology costs that you’ve already put toward this application.


Today’s borrowers demand multiple online and offline channels to use however and whenever they choose. They demand the convenience of borrowing their way, whether it is in person, over the phone, through the Internet, or by using a mobile app. Borrowers want a lending experience that puts them in the driver’s seat.

But as much as borrowers want the convenience of multiple channels, they want something else even more — speed. They want an absolutely seamless experience across all touchpoints so that there are no delays and no surprises. In the study of 1,500 borrowers, 36% cited that it took over 24 hours for their application to be acknowledged as received by the lender.

Acknowledged… As in a simple automated message that confirms receipt of their application, and that someone will be in touch with them immediately to have a chat about their exciting plans to purchase a home.

Acknowledged… As in a telephone call from a friendly voice that congratulates them on completing the first step in a very exciting journey, and that you are there to support and guide them along.

So, when we assess the Borrower Journey Map to better understand what borrowers are thinking, feeling and doing at each touch point, it’s safe to conclude that what borrowers are thinking at this stage of exploring products and rates is, “I wonder who has the best rate?”

What they are feeling is confused on how to compare different products and prices. And in the absence of immediate guidance from a professional who is offering to partner with them, what they are doing is continuing to apply with multiple lenders.

If your people and process aren’t designed to immediately respond to an application, then you’re allowing the borrower to conclude that a relationship isn’t important to you. Conversely, when you respond quickly, provide education and nurture them, the borrower will no longer feel alone, and since feelings are the seeds of loyalty, it makes good business sense that you invest in training your people so that they can deliver an exceptional experience at every touch point, every time.


Digital channels are important to borrowers, and as mobile becomes more commonplace in all facets of banking, it will be essential for lenders to offer their customers a suite of digital lending channels that interact seamlessly with each other as well as with any offline channels.

If lenders want to realize cost savings through their digital channels, they will have to ensure that these channels are highly personalized and in parallel with a human-to-human connection to achieve true customer engagement.

As Mortgage Cadence and Accenture have consistently found in borrower studies, the simplicity borrowers are seeking extends all the way to the closing table where lenders are still not optimizing a safe and efficient piece of technology that is 100% designed to drive borrower satisfaction: eSign and eClose.

Give customers the choice. Although lenders may be anxious to provide customers the option of eClosing, the 2018 survey found that 74% of borrowers would be comfortable with closing with eSign.

Being borrower-centric means providing convenience and designing your solutions around their desires. By contrast, 61% of borrowers were instructed to wet sign their closing documentation, and 16% were instructed to sign both in person and electronically. There isn’t anything about those statistics that serve the satisfaction of a borrower.


Borrowers are ready for more sophisticated digital transactions, but lenders are playing catch up in many cases. By taking steps to ensure the online borrower experience more closely resembles the human-to-human experience — meaning highly personalized — you’ll be delivering an experience that is easy, simple, transparent and maybe even fun. After all, this is an exciting time for the borrower. By playing a greater role in ensuring an exceptional borrower experience, lenders can then work toward upselling and cross selling into other products.

At the Digital Mortgage Conference, Dan Green, EVP Operations of Mortgage Cadence, discusses the importance of mobile capabilities when it comes to loan origination and the borrower experience throughout the loan transaction in the lending industry. Mortgage Cadence's Collaboration Center product was voted one of the top four demos of the Digital Mortgage Conference.

When it comes to technology and the mortgage industry, change is the name of the game. Technology has enabled automation, which has led to borrowers expecting around the clock accessibility.

On today’s episode of LendTech Live, Michael Hammond, President of Nexlevel Advisors, shares his depth of knowledge in the lending industry and details how exceeding the borrowers’ expectations is doable with the right strategy in place.

Increased profits and referrals begins with hiring great people. Tawn Kelley, President of Taylor Morrison Home Funding shares how they meet the borrower market with high touch by first creating a culture of family.

An astronomical 60% of loan applications fail to close... that's 6 out of 10 loans! It happens for a variety of reasons and happily there are many that you can control because when you do increase your pull through rate, you increase profits.

Today's LendTech Briefing guest Jeff Shood, President & CEO of Intuvo, explains the reasons why customers fall out after applying, and how by providing a highly personalized borrower experience you can drastically improve your pull through rate.

By: Jim Rosen, "What's a Digital Mortgage, Really?," for Tomorrow's Mortgage Executive

Every mortgage publication these days either has an article about, a quote mentioning, or an advertisement declaiming the virtues of digital mortgage lending. For the moment, abandon all logic and surrender to the hype. This might have you believe offering digital mortgages will make you younger, leaner and more attractive to today’s borrower.

While some of this coverage is certainly hype, it is a reality that today’s borrowers want the true digital mortgage. This was confirmed in a recent study of actual borrowers commissioned by Mortgage Cadence and conducted by Accenture Research. The study found that the old-fashioned analog mortgage is too inconvenient and too cumbersome for borrowers’ busy lives.

This is especially true if the future homeowner already has a relationship with you. As they see it, you know everything about them already, so why the constant requests for information about this asset or that particular liability? In the borrower’s view, you should know that, or, at the very least, be able to figure it out.

DENVER; March 27, 2017 – Mortgage Cadence, an Accenture company (NYSE: ACN), announced it will launch the third generation of its Borrower Center, expanding the borrower self-service capabilities and enhancing the origination workflow of its Enterprise Lender Center platform.

The Borrower Center is a cornerstone of Mortgage Cadence’s cloud-based technology, providing a highly secure, always-on-and-available-everywhere capability to help guide borrowers and lenders through the mortgage origination cycle. The new release, which builds upon the company’s proprietary technology that elevated the online mortgage lending experience more than 15 years ago, provides a superior experience for borrowers and a more-efficient, cost-effective process for lenders. Features of the third-generation Borrower Center include:

“Mortgage Cadence continues to lead the way in borrower-facing technologies — a road we started down almost two decades ago,” said Trevor Gauthier, Mortgage Cadence’s president and chief operating officer. “It’s exciting to release this next-generation borrower portal with the sole purpose of advancing our digital suite of technologies to ensure that our customers stay at the forefront of the lending industry.

“Staying ahead of industry and technology trends hinges on a thorough understanding of borrowers’ future needs. Last year we partnered with Accenture Research to conduct a study of more than 1,500 borrowers’ current and future expectations related to the origination process. Using data collected from the study, we have been driving development efforts around Borrower Center for Enterprise Lending Center and applying that knowledge to our entire product suite roadmap. Supporting our lenders is our number one goal, and we are excited to roll-out this forward-looking product.”

Michael Detwiler, Mortgage Cadence’s chief executive officer and a senior managing director at Accenture, said, “Since the acquisition of Mortgage Cadence in 2013, We have invested heavily in the Mortgage Cadence suite of products, with a major focus on digital technologies inclusive of Borrower Center. Our view on where we want to take mortgage lending draws from the kind of disruption we see in the transportation and hotel industries — attacking the major friction points and fully digitizing processes to increase the speed and efficiency of lending services. Our new release of Borrower Center is the culmination of three years’ worth of investment and incredibly skilled employees bringing our vision to life, laying the groundwork for where we plan to take our digital lending experience to enable our customers to leapfrog the competition.”

About Mortgage Cadence
Mortgage Cadence has been working with lenders since 1999, offering a one-stop shop mortgage technology solution designed for point-of-sale through post-closing. In a time when efficiency, speed and the customer experience are paramount to the success of lenders, Mortgage Cadence offers reliable software and dedicated people, supporting lenders every step of the way. Visit for more information.

By: Jacob Petersen for Tomorrow's Mortgage Executive, talking on the importance of customer service in the mortgage industry.

How often does a piece of technology break only to realize you now have to make the dreaded phone call to the 1-800 support number on the back of the device? For most, this is met with a monotone voice reading an infuriating script. Do they think we didn’t try to restart the device? Of course we did. Yes, the router was unplugged and reset, too. In today’s world, consumers expect a higher level of customer service. Whether they need to set up a new account, need help understanding the paperwork in front of them, or need help troubleshooting an issue, support must be seen as a trusted advisor.

As organizations grow, the idea of a customer ecosystem is essential to ensure the longevity and scalability of the company. This customer ecosystem requires that the entire organization work closely to provide only the highest levels of support. What steps are you taking to ensure your customer-facing teams emerge on top of today’s demanding industry landscape?

By: Dan Green, "Ten Thousand Hours - The Mortgage Process," for Tomorrow's Mortgage Executive

We’re already about a quarter of the way through 2016. TRID is already in rearview. While hardly a distant memory – it may never be a distant memory for mortgage professionals – the biggest regulatory change in mortgage history is becoming de rigueur. And it is almost Spring; that magical time of year when hearts and minds of all ages turn their attention to home buying. Or at least those of us in the mortgage business hope they do.

By: Dan Green for CUInsight

My wife and I recently closed on our eighth (and hopefully last) home purchase. This purchase, combined with the places we’ve rented, brings our total address count to about fourteen in just thirty years. That’s more than enough for a lifetime!

While this may be our last home, it is probably not our final mortgage. Who knows, maybe rates will go silly low again, or maybe there is a reverse mortgage in our future. What I do know is getting a mortgage on our new home was far easier than securing financing on our first home. Far faster, too.

The media constantly talks about how arduous the process is, how much documentation is required, and how much time it will take. The first two are certainly true. Mortgages still require a lot of paperwork. No surprise there, good mortgages always have. The difference today? Most of the paperwork is virtual; neither borrower nor lender have to physically schlep piles of paper to properly document the debt. Sure, all the old documentation is still required, plus some new, but it is mostly all available electronically. Click a button here, virtually sign there, and voila. All required documents land in the lender’s lap electronically. Almost magic, and super quick.

Technology has absolutely made loan origination far easier and more accurate. I cannot say I miss filling out a paper 1003. Both time consuming and tedious, all those little boxes make IRS forms seem almost spacious and simple. We originated this latest loan online while we made dinner. The next morning, our loan officer emailed to let us know what documentation they would need. Our disclosures arrived via email that morning as well, ready for our electronic signatures. I tended to sign on my laptop. My wife preferred her iPad. We even signed a set of documents while out for dinner via our smartphones.

The change between the first time we took out a home loan and this most recent experience is dramatic. We used lots of REAL ink and postage stamps back then. Enough to make almost anyone gasp by today’s standards. The process has greatly simplified over time, though there is still room for improvement.

The closing took place on the exact date we chose. Unfortunately, it was not electronic. Real paper, real pens, and in a real closing office. Absolutely no different than 25 years ago. The fact is that lenders, settlement agents, notaries and borrowers all have access to eSign/eClose tools. Many are simply not leveraging the widely available technology just yet, though there are a few hearty lenders that regularly close electronically. However, they are few and far between.

It’s time to make the last act of the mortgage process as easy as the first. Closing our mortgage the way we opened it – over dinner using our smartphones – would have been the ideal way to potentially end our homebuying career. Looking to differentiate your mortgage offering? Give borrowers the option to eSign and eClose. It’s the next step in making the mortgage process even easier.

NEW YORK; October 15, 2015 – BBVA Compass has deployed an end-to-end mortgage software suite from Accenture (NYSE: ACN) to streamline the bank’s real estate lending operations and enable borrowers with digital tools to apply for and track loans.

BBVA Compass is using Accenture Mortgage Cadence’s Enterprise Lending, Borrower, Imaging and Document Center software to support its 672 branches across the United States. The new suite includes a core loan origination system and an advanced set of tools for online origination, electronic imaging and automated document management.

“The Accenture Mortgage Cadence software empowers our mortgage clients by giving them the information they need, whenever and wherever they are,” said Eduardo Castaneda, executive director of Real Estate Lending for BBVA Compass. “It also helps us respond nimbly and increase efficiencies in a changing regulatory environment.”

Castaneda said Accenture’s mortgage processing expertise and commitment to providing lenders with state-of-the-art technology was a key reason for the bank’s decision. “We have a long-standing relationship with Accenture, so we understand their core technology and mortgage processing technology capabilities,” he said. “We are confident this software suite will position us to meet the needs of our clients now and well into the future.”

“As the mortgage industry evolves and consumers demand access to more digital capabilities, lenders that can adapt fastest will win,” said Terry Moore, senior managing director and head of Accenture Credit Services. “By embracing cloud-based systems and new lending innovations along with an industrialized mortgage processing solution, BBVA Compass continues to show foresight and market leadership.”

“BBVA Compass’ choice of our software suite is further evidence of our unique capabilities to assist banks in adapting their business to meet new and emerging consumer demands, as well as their need to lend more efficiently, profitably and compliantly,” said Trevor Gauthier, managing director of Accenture Mortgage Cadence.

Accenture Mortgage Cadence is a robust mortgage loan origination software suite that covers the full lending cycle from start to finish. Lenders can process, underwrite, close and fund loans virtually anytime and anywhere. The suite also includes the Borrower Center, a point-of-sale portal for customers that simplifies the loan application process and includes up-to-date information concerning the borrower’s pending application.

By: Jake Petersen for Today's Lending Insights

Every organization strives to serve its customers at a world-class level; however, taking customer service past the concept of a “help desk” is often an afterthought. Most companies view support as something similar to the 1990s Maytag commercials, where the lonely repairman is waiting for someone to call so he can spring to action. As a result, support is often seen as a cost — a necessary but basic function that does no more than resolve individual customer issues using entry-level employees.

I believe that this line of thinking is flawed. In my view, customer service can provide valuable insight into the organization and should be seen as an opportunity to collect data that will help drive improvements in lenders’ people, processes, and technology.

By the time an issue makes its way to the customer service team, it has typically affected the customer and has potentially damaged the brand. Many believe a fast response time and a satisfactory resolution can actually increase brand value. While this may be true in some cases, most complaints tarnish the brand and drive costs up. Also, because customers and staff were affected, it is likely that management and/or executive involvement is required to remedy the issue at hand. At Accenture Mortgage Cadence, we refer to this as the “cost snowball effect.” If issues are identified and addressed before they move to the next step, the cost is limited. If an issue is not identified and addressed, the cost to correct it snowballs as the number of individuals and teams involved increases. Taking steps to ensure customer service teams are properly versed in how to handle issues can help keep such issues from snowballing.

As lead of the Accenture Mortgage Cadence service team, I have spent the last two years refining our support process. We have found that the customer-facing support group should not simply be a “help desk.” In today’s complex business environment, these teams cannot simply follow a series of scripted questions and responses and expect to resolve customer issues. Most issues require a highly capable individual with the authority and skills to resolve specific issues and refer others to the appropriate subject matter experts.

To resolve an issue in a timely and complete fashion, the support team also needs direct access to the organization’s subject matter experts. Customer service should be responsible for driving continuous improvement across the organization. They do this by seeking root cause, determining what needs to be fixed, and identifying what actions need to occur to prevent that specific issue from appearing again.

In most organizations, support uses a ticketing system that includes varying amounts of data about the specific support incident. Typically there is a description of the incident, the potential resolution, and a field that classifies the type of incident that occurred. This data should be used in conjunction with feedback from support subject matter experts, looking at aggregated data to drive continuous improvement within specific individuals, teams, processes, applications and infrastructure.

Support within any organization should be viewed as much more than a cost factory. Instead, it should be viewed as a feedback mechanism that can drive continuous improvement throughout the organization. Properly structured, customer support should be an agent of change for people, processes, and technology.