Sanjiv Das, CEO of Caliber Home Loans
recently penned a piece for MarketWatch
, where he explored ways in which the COVID-19 pandemic could very change home buying and lending forever. He believes that reforms being created by companies and regulatory entities aren't just going to be temporary.
Das believes that increased digitization, delivering consumer relief with scale and speed and leveraging technology are all aspects of the industry that feature permanent changes.
"The current crisis has 'brought forward' some of the internal conversations we were planning to have about how to massively transform the online digitization and automated underwriting process for our borrowers. That time is now, as consumers are opting to research and buy their homes online—not wanting to risk their health with in person exchanges," wrote Das. "Keeping customers in their homes during strong and (especially in) weak economies must be priority No. 1 for financial institutions."
With the increase in volume on the servicing side, Das says more companies, his included, will be looking at more artificial intelligence solutions to help manage the volume.
to read more about how COVID-19 may have forever altered home buying and lending.