Transforming Mortgage Markets
Transforming Mortgage Markets with Jason van den Brand, Co-Founder & CEO of Lenda; Paul Fielding, Head of Capital Markets at SoFi; Michael Slavin, Founder & CEO of Privlo; Nikul Patel, Chief Product Officer & Chief Technology Officer of LendingTree; Scott Sambucci, VP, Sales & Customer Success of Blend Labs; and moderator John Elias, an Independent Executive Consultant.
A large part of this panel was given to comparing the various companies. There were some aspects on which they agreed, such as that mortgage shopping must move online. Nikul from LendingTree, which he described as a Kayak for financial services described it as ridiculous that borrowers start the process online but then are thrown into a 1980's style telemarketing process for application. Not only do borrowers want to complete the process online, but it brings down costs, which means that they are accessing better prices. At LendingTree they were very surprised to find that more than 50% of their online traffic came from mobile phones and this clearly needed to be addressed in the form of an app.