The Future of Mortgages: has Covid-19 signaled the end for traditional mortgage lending?

While the world huddled down, slowed down, and tried to adapt to life amidst a global pandemic, mortgage lenders were facing a unique problem: they couldn’t keep up with demand.

Mortgage interest rates, while volatile, hit all time lows, driving huge increases in application volume for both new mortgages and refinance loans. At the same time, economic uncertainty made managing credit risk increasingly challenging, especially with a newly remote workforce still finding its feet.

In a document heavy industry, reliant on in-person meetings, lenders were tasked with finding alternative ways to keep loans moving through the decisioning process. So, what does this mean for the industry as customers emerge from isolation?

In the on-demand event, our panelists discussed:

  • Customer Experience – how can we simplify and adapt mortgages to new consumer expectations?
  • Credit Risk vs. Risk Appetite – how can lenders keep approvals flowing when approval criteria gets tighter?
  • Lessons Learned – what lessons can we learn from enforced lockdown and increased risk to drive a mortgage revolution?

Watch the recording to see if lenders will take this opportunity to revolutionize mortgage lending.

Meet the Panelists

Sapan Bafna, Advanced Delivery Engines, VP

Sapan Bafna | ProvenirSapan is a senior leader at CoreLogic and runs Advanced Delivery Engines business within the Data and Advisory Solutions segment. In this role, Sapan has launched and leads many business lines to create innovative, data driven solutions that address a broad range of client pain points and operational challenges. He manages ongoing advances in product and service offerings for CoreLogic clients, leveraging staff expertise both in the United States and abroad, lean processes, and agile technology. His role encompasses identification of new business opportunities, quick prototyping, custom solution development, and operational execution. Since joining the company in January 2004, Sapan has held various process engineering, business development and business leadership roles including innovation, research and development, outsourcing, creating strategic initiatives, and P&L management. He is a finance graduate with a Master’s in Business Economics (MBE). He completed his MBA with a specialization in MIS from Florida International University, Miami. He has also completed Accredited Mortgage Banker (AMP) certification and Lean Six-sigma certification. He currently sits on the Industrial Advisory Board of the National Science Foundation (NSF-CAKE).

Daryl R. Grant, Managing Director, Digital Lending Solutions

Daryl Grant | ProvenirDaryl has worked as Managing Director with KPMG Advisory Services for over 4 years.  Experienced Management Consultant and Strategic Advisor with a demonstrated history of shaping & executing profitability enhancing business transformation programs.  Highly skilled in Digital Strategy & Execution, Operational Excellence, Program & Change Management.  Throughout Daryl’s career he has always been focused on transforming the client’s experience with bank and non-bank lenders.

Prior to KPMG, Daryl was with Accenture for 17 years and left as a Managing Director of Financial Services.  He holds an MBA from Emory University and a Bachelor of Business Administration, Computer Science, and Marketing from the University of Alabama.

Gabriela Villafranco, Mortgage Loan Originator

Gabriela Villafranco | ProvenirGabriela is a Mortgage Loan Originator at Homestar Financial.  She is a Venezuelan native with more than 15 years of experience in the mortgage industry.

Maintaining a comprehensive knowledge of HOMESTAR’s growing list of loan product offerings is crucial to Gabriela. In order to provide exceptional service, she places primary emphasis on service and communication with her customers. Gabriela understands the importance of staying educated with the changing market, as well as working with her clients’ individual needs and schedules. Gabriela is involved in her chosen field as a member of the Mortgage Bankers Association of Georgia. Her expertise has been recognized by her customers and referral partners in the MBGA Gold recipients list of Top Mortgage Professionals in 2017, and she consistently ranks among the million dollar producers within the company.

Fowler Williams, President and CEO

Fowler Williams | ProvenirFowler is Chief Executive Officer and President, Crescent Mortgage Company, a subsidiary of CresCom Bank of the Carolina Financial Corporation. In his 20 years at Crescent Mortgage Company, Fowler worked as National Sales Manager and Executive Vice President over Sales and Operations. Fowler holds the highest designation in the mortgage industry as a Certified Mortgage Banker. Fowler serves on the Board of Directors for the national Mortgage Bankers Association where he also is Governor on the Residential Board (RESBOG), past Chairman of the Community Bank and Credit Union Network, and Mortgage Action Alliance, the grassroots policy, advocacy, and lobbying network for the real estate finance industry.  Fowler also has been named to the Customer Advisory Board of Freddie Mac and Accenture Mortgage Cadence. He has twice been named to the forty most influential mortgage professionals under 40 by National Mortgage Professional magazine. In 2017 he was awarded the Schumacher-Bolduc Award for political advocacy in real estate finance.