The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your own advisors with questions regarding the mortgage lending software content herein. The opinions expressed in this article are the opinions of the individual authors and may not reflect the opinions of MeridianLink, Inc.
From 2015 to 2024, banks of all sizes saw their mortgage market share dwindle in the face of increasing independent mortgage bank (IMB) originations. Large banks alone experienced a decrease from 35% to 22% as IMBs climbed from roughly 20% to 54% in that same time frame.
It’s not that borrowers trust IMBs more. It’s that IMBs tend to offer fast, efficient mortgage origination experiences at lower costs. Meanwhile, many banks are stuck on outdated legacy systems that slow approval times, require expensive workarounds, and further chip away at already tenuous margins.
With Modern Mortgage Lending Software Comes a Massive Upside for Banks
It’s time for banks to take back more of their market share with a modern mortgage lending software that reduces per-loan costs, shortens cycle times, enhances efficiency, improves pull-through rates, and delivers digital-first experiences.
Those benefits are precisely what draw more banks to the MeridianLink® Mortgage LOS. With technology designed to scale alongside your business, your bank can become a market leader. Advanced automation, powerful APIs, a built-in product and pricing engine, a configurable point-of-sale solution, and much more allow you to grow mortgage lending volume without adding staff.
The result?
- Faster, more engaging borrower experiences that lead to more closings, stronger profitability, and more loans won every rate cycle.
- Far fewer abandoned applications.
- Accelerated approvals and closings with speedier cycle times powered by intelligent, streamlined workflows.
- Simpler system management with a scalable, cloud-based platform.
- Lower expenses, freed up IT resources, and fewer manual tasks, all while continuously scaling volume.
Ready to upgrade your mortgage technology but concerned about a time-consuming implementation? MeridianLink’s Digital Progression Model delivers a proven, multi-phase blueprint tailored to your unique goals and resources to minimize stress every step of the way.
More mortgage business and cost savings are finally within reach. See how MeridianLink Mortgage can help your bank reclaim lost market share and achieve lasting growth.
