Mitch Boulden: Wildly Successful Mortgage Broker, Explains the Role of Technology in the Mortgage Lending Industry

Mitch Boulden owns MB Mortgage Brokers, which is changing the dynamics of the mortgage broking industry for the better.

It has become a pivotal aspect in every industry. Also it’s safe to say that the housing industry is also smitten by the technology bug, says Mitch Boulden, who is rising high in the mortgage finance industry with his firm MB Mortgage Brokers, Australia. Working each day and honing his skills in the industry turned Mitch Boulden into a self-made and self-employed mortgage broker, who has offered to help all clients through his firm for catering to their financial needs.

The award-winning mortgage broker explains the role of technology in the mortgage industry.

• Optimizing the entire process: It takes days to complete the loan process and a few days are consumed in obtaining the underwritten loan approval from the lender. MB Mortgage Brokers utilizes technological resources in the mortgage industry to address this issue and optimize the process in securing loans and mortgages enabling applicants to navigate a self-guided experience. For borrowers having smartphones, real-time assistance from their designated loan officers is another feature that is driven by technology, helping mortgage companies to deliver an outstanding experience.
• Enhancing experience: The entire process of mortgage involves extensive documentation work; however, technology has made even this easier with making everything paperless. Better digitalization in the industry has also provided an opportunity for better coordination between the loan manager and the applicant without consuming too much time with processing the mortgage.
• Much better transparency: Applicants initially had minimal access to the mortgage firm's internal systems, which made it difficult for them to get updates on their loan status. However, access to the information with the help of technology has made it easier for borrowers to get the latest information with only a few steps. Even the new portals deployed by the mortgage firms help applicants to see the same information as the loan officers do and in real-time. This increased transparency, boosting the trust factor between mortgage firms and borrowers.

In the last five years, Mitch Boulden spent working for an independent finance mortgage company named 'Jennings Mortgages', beginning his career as a rookie, taking on 300 clients, and going ahead in building a robust portfolio to over 500 customers. In January 2021, he decided to originate his firm MB Mortgage Brokers, after he saw the need to devise strategies to solve complex loan scenarios and wanted to provide more tailor-made loans for clients. His expertise comes from having to deal with complex client loans whilst working with an independent mortgage company.

Mitch Boulden realized there was a gap where the banks couldn't provide tailor-made loans, suiting the individual circumstances of the client; hence, he came up with his firm to provide people with a wide range of lenders, offering many more options for getting their loans approved. Highlighting his big message, Mitch Boulden says that his firm has the time to build a personal and business rapport, where he has the knowledge to solve complex loans and provide information from a wider scope of products.

According to him, navigating the complexity of a wide range of loan products currently available and staying up to date with the ever-changing market is the key to success in becoming an independent mortgage broker.