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One of my favorite topics to discuss in the mortgage industry is innovation. As compliance has become an increasingly more important component of the industry, dozens of amazing companies have risen to the challenge of making it easier for mortgage organizations to adapt. There are many areas of focus with technology and innovation that have improved our industry. But if there is one area in which we are behind other industries and really need to start focusing on, what is that area?
On the July 13 episode of the Lykken on Lending Internet radio show, this very question was raised to our guest, Tony Garritano of Progressing in Lending. And I could not agree more with Tony's response. Our industry really needs to place a stronger focus on is mobile technologies.
"Today, borrowers aren't coming to lenders. Lenders have to go to them," said Garritano.
Today, people are always on the go. Although we still think of our computers as the devices that are sitting on our desks, the computers that matter most to us are now those that are in our pockets. More and more, people are using their mobile devices to access everything they need. If we want to gain access to the 21st Century buyer, we've got to develop the technologies to meet them where they are. If there is a space that we'll see a focus on in the near future, it has got to be mobile.
David Lykken is 40-year mortgage industry veteran who has been an owner operator in three mortgage banking companies and a software company. As a former business owner/operator, today David loves helping C-Level executives and business owners achieve extraordinary results via consulting, coaching and communications, with the objective of eliminating corporate dysfunction, establishing and communicating a clear corporate strategy while focusing on process improvement and operational efficiencies resulting in increased profitability. David has been a regular contributor on CNBC and Fox Business News and currently hosts a successful weekly radio program, “Lykken on Lending,” that is heard each Monday at noon (Central Standard Time) by thousands of mortgage professionals. He produces a daily one-minute video called “Today’s Mortgage Minute” that appears on hundreds of television, radio and newspaper Web sites across America. He may be reached by phone at (512) 501-2810 or by e-mail at [email protected].