Skip to main content

Survey Finds Under 20 Percent in Industry Use Mobile Technologies for Business

Apr 08, 2013

Ernst Publishing Company has shared the results of their recent survey on the use of mobile technologies in the mortgage lending industry at the American Land Title Association’s recent Business Strategies Conference in Oklahoma City. While more than 80 percent of respondents use mobile technologies daily in their personal lives, only 17 percent said that at least half of the business services they provide were currently being offered to consumers via mobile devices. “Because of the risk averse nature of our business, our industry has always lagged behind technology trends to some degree, but this time it could really hurt us,” said Gregory E. Teal, president and chief executive officer of Ernst Publishing. “We’re our own best evidence that consumers want access to mobile tools and yet we’re not making these tools a priority in the way we deal with our customers. This establishes mobile as a significant competitive opportunity for the firms that innovate here.” To uncover these findings, Ernst surveyed over 8,500 industry participants, including title agents, lenders, escrow agents, attorneys, real estate agents and technology vendors. Teal shared the insights with the industry on a panel that also featured Abhinav Asthana, product strategist for Wipro Gallagher Solutions, and Katie Laws, business development officer for Stewart Abstract & Title of Oklahoma.
About the author
Published
Apr 08, 2013
More from
Tech
Wire Fraud Losses Are Mounting

First-time homebuyers are especially at risk for wire fraud, report finds.

Feb 13, 2025
AI Muscles Into Homebuying

1 in 3 buyers now rely on AI during the mortgage process, survey finds.

Feb 13, 2025
Mr. Cooper Bets Big on AI, Expands Tech for Better CX

After Flagstar onboarding last year, Mr. Cooper reports 4Q net income of $204M

Feb 12, 2025
TidalWave Blends AI & DEI To Support Hispanic Homebuyers

51% of Hispanic homebuyers face added costs to hire professional translators

Jan 28, 2025
Rocket Launches All-In-One Platform Rocket.com For Buyers and Owners

Consumers can search, purchase, and manage their home financing with the help of Agent AI

Jan 22, 2025
Road To 2030 In Mortgage: ‘Velocity Of Decision-Making Is Moving Fast’

Borrowers could be qualified ‘in minutes,’ and large staffs made redundant by AI, mortgage exec says

Jan 16, 2025