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Home » Store » Profitability » Should Loan Officers Worry About Automation?

Should Loan Officers Worry About Automation?

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Profitability

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With residential origination costs constantly rising, should rank-and-file loan officers worry that their jobs will eventually be automated away thanks to advances in technology? The thinking goes like this: Lenders are spending hundreds of million dollars a year in software upgrades to automate as many LO functions as they can. The ultimate goal is to reduce the number of loan officers and whittle down costs. Depending on where they work, mortgage loan officers can earn ...
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