The Cost of Friction: Your Application Flow Might Be Losing You Deals
Friction is the resistance encountered when things that should move smoothly collide instead. In the mortgage world, that resistance shows up as legal, technological or human obstacles that slow or even stall loan progress.
The thing about friction is that it generates heat (or in this case, frustration). If your application process is adding friction instead of removing it, borrowers will walk away when it starts to burn. Lenders pay the price in lost time, missed opportunities and low conversion rates
The good news? With a few strategic tweaks, the roughest parts of your application process can become strengths—or at the very least, stop torching the borrower relationship before it’s fully established.