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Broadcasting live from the Motivity User's Conference in Denver on the Sept. 14 episode of my Lykken on Lending radio show, we took some time discussing technology trends in the mortgage industry. What makes having business intelligence applications like Motivity so important in the mortgage industry? One of the topics that came up was the "on demand" nature of society today ...
We live in a "now market." We want same-day shipping on our online orders. We can order their food on their smartphones and show up at the restaurant minutes later to pick it up. When we have a question, we Google it and then have the answer in seconds. "Patience" simply isn't part of the lexicon in the 21st Century. When we go looking for something, we expect to have it immediately.
In the mortgage industry, then, it becomes all the more important to be accessible to today's consumers. We need to be able to respond to inquiries at the drop of a hat and through the mediums by which consumers of today wish to communicate. We need to have the ability to text, e-mail or communicate via social media. We can no longer rely on the willingness of people to meet us where we are. We've got to go where they are—and we've got to do it now. In today's marketplace of instant gratification, there's no time like the real-time.
David Lykken, a 43-year veteran of the mortgage industry, is president and chief transformational officer of Transformational Mortgage Solutions (TMS), a management consulting firm that provides a full-range of advisory services to owners and “C-Level” executives involved with mortgage lending. David has garnered a national reputation, and has become a frequent guest on FOX Business News with Neil Cavuto, and has had additional guest appearances on CNBC, The CBS Evening News, Bloomberg Radio and NPR. He hosts a weekly a weekly podcast called “Lykken On Lending” as well as a consumer facing video called “Today’s Mortgage Minute.” He can be reached at (512) 759-0999 or e-mail [email protected].