Bank of America's Consumer Lending SVP, John Schleck revealed that the company's development of digital mortgages kept loan officers in mind, according to a recent video.
"So we really see the loan officers being a really critical piece of this equation," said Schleck at the Digital Mortgage conference held in Las Vegas over the last two days.
"And we do not see digital replacing the expertise of a loan officer. As a matter of fact, everybody that goes through digitally is assigned a loan officer and that loan officer then follows up after."
Due to the increase in demand for innovative technology that helps folks seeking a loan, companies have been forced to develop new tools.
"The mortgage industry is in the midst of game-changing innovation," reports National Mortgage News.
"Demand for faster access to funds, mobile capabilities and artificial intelligence are just some of the areas mortgage lenders are seeking solutions—or risk being left behind."
To watch the video featuring Schleck's statement about digital mortgages and how it connects with LO's, click on the image above.