COVID-19 has impacted the real estate and mortgage industries in Canada and brought about change that was long overdue.
It has made processes truly go digital.
In a recent survey by the Ontario Real Estate Association (OREA), it can be seen that customer preferences have also changed. 4 in 10 Ontarians are now open to buying a house if they can view it virtually.
This is why lenders must integrate modern technology into their processes. The market is changing, and lenders have to change to meet the expectations of their customers.
Today, the technologies available in the market can help simplify and speed up the mortgage pre-approval process, weed out bad deals, and help close deals faster.
Automated Valuation Models (AVMs), for example, can help in doing so by providing quick and accurate valuations of subject properties.
Read more about the technologies available to lenders on the Purview blog: https://www.purview.ca/technology-for-lenders-why-is-digital-integration-more-important-than-ever/