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Disruption not duct tape is the key for mortgage transformation.
If you’re satisfied with incremental advances in mortgage processing, read no further. Earlier this year, HFS wrote about how emerging technologies such as artificial intelligence (AI) and process automation help the mortgage industry digitize processes and streamline cost and cycle times. While lenders are making notable progress in how they originate mortgages, especially in the realm of cognitive document processing, our overarching conclusion is that lenders are using emerging technologies to modify existing processes rather than create new ones. Emerging technologies such as cognitive document processing are becoming the duct tape of mortgage transformation.
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