US Mortgage Origination and Efficiency in a Post Pandemic World
Understand the FOUR key technology trends to understand the trends in mortgage origination and efficiency
The COVID-19 has thrown the entire economy into disarray. The mortgage sector flourished in 2020 before entering a period of decline. During this time, the average unit cost climbed by 5%, but the origination cost doubled. Origination expenses are also rising, according to a global survey of over 308 mortgage industry executives conducted by Infosys in March 2021. 87 percent of respondents indicated rising origination costs in the past 12 months, while only 13 percent reported reducing costs.