A New Age in Mortgage: Selected Oliver Wyman Insights

REPORT PREVIOUSLY PUBLISHED BY OLIVER WYMAN
May 9, 2017
Industry Trends
Global

Abstract

The US mortgage industry has changed dramatically since the global financial crisis. While much of banking has continued its decades-long consolidation, the post-crisis origination market has been characterized by increasing fragmentation as well as the resurrection of nonbank lenders. As the industry moves forward, players must consider strategic positioning in an environment marked by an accelerating pace of change. With more demanding and tech-savvy borrowers, continued FinTech interest across the value chain, and a pronounced rise in technology investment from incumbents, tomorrow’s mortgage market is sure to look vastly different than today’s.

This compilation of recent Oliver Wyman mortgage perspectives helps make sense of recent trends as well as outlines future developments likely to take place in our industry. The authors draw on research from a number of sources, including consumer survey work, numerous interviews with industry experts and executives, mystery shopping, site walk-arounds, and plenty of healthy debate with colleagues and clients. Each piece offers viewpoints on a distinct aspect of this dynamic market.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

1. Shifting Sands and Crumbling Towers

3

2. Different Strokes for Different Folks

11

3. Digital Mortgage Nirvana

18

4. The Future of Technology in Mortgage Innovations

28

5. A Model for Efficient Mortgage Servicing

36

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