A recent survey conducted by Cloudvirga revealed significant insights into the preferences of millennial and Gen Z homebuyers when it comes to mortgage lenders. The survey found that a majority of these younger generations, specifically 60%, expressed hesitation towards lenders that heavily rely on artificial intelligence in their operations. This sentiment highlights a potential distrust or discomfort with fully automated processes in the mortgage industry.
Key points from the survey include:
– 60% of millennial and Gen Z homebuyers would avoid lenders that fully rely on artificial intelligence
– Younger generations may prefer a more personalized and human touch in their mortgage process
– Issues surrounding trust and transparency may be impacting perceptions of AI in the mortgage industry
These findings suggest that mortgage lenders should consider the preferences and concerns of younger homebuyers when implementing AI technologies in their operations. Balancing automation with personalized customer experiences may be crucial in capturing the trust and confidence of millennial and Gen Z homebuyers.
You can read this full article at: https://www.housingwire.com/articles/younger-homebuyers-concerns-about-ai-mortgage-process/(subscription required)
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