Skip to main content

Dahleen Shares Predictions On The Future Of Mortgage Tech

Jul 16, 2020
Photo of Joe Dahleen and quote from MLO.
Director of Events

Wednesday’s episode of the Mortgage Leadership Outlook featured Joe Dahleen, senior vice president of strategy and sales for FirstClose. Dahleen joined series' host Andrew Berman, head of engagement and outreach for National Mortgage Professional magazine, to discuss the technology shift that occurred over the years within the industry and where he sees it going in the future.

When high tech was going from thermal faxes to plain paper, Dahleen was creating pricing and eligibility engines to run in the palm of your hand. He's been on top of major digital shifts long before the industry was aware of that new technology.‍

 

Highlights From The Interview:

  • When the housing crisis hit, Dahleen launched a mortgage business called Go Financial Solutions with a few friends. With it, the team launched eNotes and eMods as a part of the company.
  • In 2007, he joined the board for Zillow and for five years, watched everything they did in the Zillow Mortgage Marketplace. He realized the impact of what Zillow was doing back then and noticed that everything was moving to automated closing and automated disclosures. He then envisioned automation happening at the point of sale.
  • “The consumer is in control now. The consumer at the point of sale is the one that is initiating these things. They’re pulling their own credit, they're doing their own verification of income, their own verification of assets, aggregating their own bank accounts, verifying their identity and they’re signing on to these banking platforms to pull down data,” said Dahleen when asked what originators should be seeing at this point in the mortgage industry.
  • Dahleen said the consumer wants little contact (maybe an email or a text here and there), transparency and identity management. He said today the mortgage process is really customer-initiated and customer-driven.
  • “If you’re not doing it for the consumer upfront, at the point of sale and giving them rates and closing costs in an [loan estimate] instantaneously, you don’t have a shot at getting a refinance closed.”
  • “The future is really all about generating instant decisions, instant commitment letters and automated LEs. That doesn’t mean the loan officer is going away. The loan officer is really valuable now because now we’re using the best part of their brains. The loan officer now can use their cerebral way to help and provide advice and experienced advice to clients making these big decisions in their life.”

Check out the full conversation between Dahleen and Berman below.

Previous guests include Tim Nguyen, Kristy Fercho, Tony Thompson, Mat Ishbia, David Luna, Barry Habib, Rob Chrisman and more.

See all the interviews from the Mortgage Leadership Outlook series on the NMPTV Youtube Channel.

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Jul 16, 2020
More from
Tech
Angel AI Launches Free Credit Repair

Angel Ai declared June 24 as Your Financial Independence Day in a press release

Jun 24, 2024
Figure Launches TBA Market For Non-Agency Loans

Currently handling only HELOCs, Figure Connect has new products coming soon, says Chief Capital Officer.

Jun 12, 2024
Fidelity National Financial Names Jason Nadeau As Chief Artificial Intelligence Officer

Nadeau joined Fidelity National Financial in 2018, serving as Chief Digital Officer

May 23, 2024
Planet Home Lending Welcomes New Executive Vice President And Chief Information Officer

Bill Shuler brings a diverse background in IT leadership and mortgage consulting to the role

May 21, 2024
Automation Attracts Investors Who Love Homogenous Loan Pools

Human-free underwriting promises to expand primary and secondary, non-agency markets

May 02, 2024
Raising An Ai Brainchild In The Mortgage Industry

Angel Ai takes on the next five years with a new ‘do and functions to boot

May 02, 2024