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"The company also hired 7,000 people during the pandemic" Does anyone know why a digital mortgage lender would need to hire 7000 people?
by globalise83 5y ago
"The company also hired 7,000 people during the pandemic"
Does anyone know why a digital mortgage lender would need to hire 7000 people?
- deleted 5y ago[deleted]
- browningstreet 5y agoFormer CTO of a mortgage LOS here. The mortgage industry is an offshoot of the real estate industry, and has a similar attitude … everything can scale with more bodies. The digital and loan part isn’t the bottleneck, the “dealing with applicants” and “shuffling documentation” gets more workers since automating the back end does little to relieve the manual and exception processes anchored between the humans on the front end.
- gxespino 5y agoEven with solutions like Handl.ai, the "shuffling documentation" portion is still a bottleneck? No affiliation to Handl, btw.
- ViViDboarder 5y agoSales, compliance, risk and underwriting, appraisal? Not sure, but I imagine these roles would be internal and some may need to be in local markets.