In a recent thought piece from Accenture, the consulting firm concludes the following:
- As a generation representing 86 million people in the US, millennials represent a a large and substantial opportunity that lenders cannot ignore
- They expect both great technology and great customer service to drive their lending experience
Talk about spoiled! (Just kidding! Or am I? 😉
As a generation, it’s clear that mortgage lenders will have to invest and adapt in order to serve the demands of a generation that grew up surrounded by technology.
The millennial lending experience drove the genesis of Nest Mortgage. In 2015, at age 30, I was ready to jump into home ownership. I was coming off of my first well-paid job after business school, and I knew that in Texas, I had a unique opportunity to invest in real estate that was not afforded to most of my peers in San Francisco and New York. I found house-hunting process was relatively straight-forward with my mom as the buyer’s agent on the deal. The mortgage, however, was nightmare. It reminded me of the kind of back and forth, phone calling and faxing that my mom’s real estate brokerage provided in the 1990s. If everyone else has moved on to 2017, it’s time that mortgages do too. And we’re not the only ones who think so.
Nest Mortgage knows that technology will be the base of what we provide to home buyers. But we also firmly believe that technology alone will not serve clients sufficiently. Instead, a kind of hybrid service approach will be necessary. We believe that the best mortgage companies in the future will be tech-forward with a high bar for education and customer service. This will include:
- A knowledgeable and easy-to-reach loan officer/loan team
- A variety of ways to efficiently communicate with your mortgage office
- Collateral and content that can quickly summarize your mortgage process
- Tech-driven automation whenever possible
- Deliver the best rates possible – this generation loves to shop around
At Nest Mortgage, it’s our goal to be sure that millennials and others have the mortgage experience they deserve as they begin building their own Nests.