copies of closing documents. Although I personally the major lenders/title companies will force consumers to go all digital whether they want to or not.
February 21, 2018
A NEW REPORT FROM FISERV ( the leading provider of technology to lenders)
"Advancing technologies are making their way into the mortgage customer experience, however, a new report says most borrowers aren’t that interested in the latest text notifications, and voice-activated applications, reports HousingWire. The report comes from Fiserv, a technology solutions provider for banks, credit unions, and other financial clients, that specializes in such systems.
Yes for email, no for text
According to the article, Joe Dombrowski, director of project management for Fiserv, revealed the report findings at a conference session during the recent 2018 Mortgage Bankers Association Servicing Conference. Dombrowski said a majority of consumers are comfortable with email notifications, while few opted in for text messages, and most wanted to talk to a person to address complex questions.
For due-date reminders and payment confirmations, six in 10 borrowers opt for email. Only three in 10 borrowers have opted in for text notifications. Even when it comes to past-due notifications and notifications that a mortgage payment couldn’t be processed, only 22 percent opted to receive a text message.
Dombrowski reportedly said the report found no overriding consumer preference between electronic and paper copies of documents from lenders. However, borrowers preferred to speak to a live customer service representative for anything complex. The use of mobile apps was relegated to ordinary consumer maintenance of loans. "
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