Will Amazon create prime competition for mortgage lenders?

The bogeyman that many in the mortgage industry fear may be closer than ever to making its appearance. Supposedly, big technology companies like Amazon and Google want to be in the real estate finance business.

Their entry is inevitable, loanDepot CEO Anthony Hsieh warned at NMN’s Digital Mortgage Conference last September.

“Lots of power there, lots of intellect, and these companies understand digital,” Hsieh said. “There’s no doubt they’re going to widen their products and services. You have big brands making bets to add products and services. You have real estate service and lending companies looking at each other: we’re friends. Or will that turn into foe?”

It’s understandable for lenders to be concerned. But if this incursion is so certain, why hasn’t it happened yet?

Author: Roky