This Article On Smart Technology And Importance In Mortgage Careers Was UPDATED On October 20th, 2018

What is Smart Technology?

• Talking alarm clocks, TV’s, Robots and talking watches?
• Really?
• In retrospect it sounds more like “The Jetsons” well, they were surprisingly accurate in predicting the types of smart-home devices that would make our lives more convenient and comfortable

But today’s smart-home systems go one step further:

• they help provide safety and security

Many of them allow you to link safety devices such as motion and smoke detectors to your smartphone so that you can increase your home’s security and better monitor potential damage.

Prices For Smart Technology

Prices for smart-home systems and smart technology devices have dropped dramatically over the past couple of years:

• In fact, smart technology for the home is becoming so main-stream that you can buy devices and system off the shelf in many home improvement stores
• What’s more, a lot of them are easy to use
• Even moderately tech-savvy homeowners can install them rather easily
• Flying cars that chauffeur your kids to school may be way cooler
• But these high-tech devices are practical and useful in their own right

They may even help you avoid having to make an insurance claim.

Smart Tech Security

Think of these devices as a step up from a conventional burglar alarm.

• Take smart technology locks and garage door openers for example
• Not sure whether or not you remembered to lock your doors or close your garage door when you left the house?
• These devices allow you to do it with your phone
• Some will also open your doors and garage when they sense your phone is nearby, so you don’t have to fumble for keys or a garage-door opener in the dark
• “Motion detectors” …
• Position these near your window and doors and in other vulnerable spots around your house’s interior or exterior and you’ll get an alert from your smartphone when the sensors detect motion nearby
• “Wi-Fi Cameras”…..
• Like motion detectors, these cameras can be placed around your house and connected to your smartphone so that you can look in on your home at any time
• From anywhere, you can even receive an alert from motion detectors or other devices

Also available are cameras that can be linked to a doorbell so you can see who is at your door before you open it.

Smart Tech Damage Control

These devices can help you monitor conditions in your home so you can fix potential issues before they become major problems.

• For example: “Smart thermostats” ….
• They can monitor changes in temperatures in your home and send you an alert on your smartphone if it drops to a certain pre-determined setting at which point you can boost the temperature from your phone

And if you happen to have a cabin in the mountains where temperatures dip low or a condo by the beach was temps are warm you can remotely set them to the desired temperature prior to your arrival all via your smartphone.

Smart Tech Leak Detectors

Places these in your bathroom, kitchen, basement and other areas prone to water damage and they’ll let you know via your smartphone as soon as they detect a leak.

• You can even shut off the water via phone
• If you have Wi-Fi cameras you can survey the room to decide what needs to be done

Smart Smoke/Carbon Monoxide Detectors

Smoke and CO alarms work well if you’re home but if a fire or a leak occurs when you’re away you often don’t know until it’s too late.

• Smart detectors send an alert to your phone when they sense smoke or carbon monoxide so you can assess the situation via your Wi-Fi cameras or call the fire department immediately
• These are just some of the “Smart Tech Devices” available to us that help make our lives safer and keep our homes secure from the unforeseen and can help prevent catastrophic events

The future in technology is only becoming smarter and we need to keep up with it if we want to be up to speed with the latest and greatest in the ever-evolving world of high tech.

Smart Technology In The Mortgage Industry

There used to be a time where loan officers met clients in-person to take mortgage loan applications and collect documents.

• Those days are long gone
• Everything in the mortgage process including closing is done electronically
• Borrowers will complete online applications via a secured link
• All documents need to be uploaded and done electronically
• Mortgage disclosures such as Loan Estimates and Closing Disclosures are disclosed online via email
• Closings are done online
• Mortgage companies will prep closing docs and email them to the title company
• Wires are sent and not cashiers checks

To be successful as a mortgage loan originator, technology is no longer a need but a must.

About The Author Of Smart Technology

This article on Smart Technology was written by Michael Gracz, National Sales Manager and contributing associate editor and writer for Gustan Cho Associates.

Mike is a producing mortgage loan originator for Gustan Cho Associates an expert on FHA, VA, USDA, and Conventional mortgage loans. Based in Lakewood, Colorado, Mike is also a real estate investor with properties in California and Texas, Mike specializes in helping borrowers with prior credit issues and higher debt to income ratios. Mike is known by many due to him not having any mortgage lender overlays on FHA Loans and Conventional mortgage loans. Minimum credit scores required to qualify for an FHA Loan is 580 FICO and maximum debt to income ratio caps on borrowers with at least a 620 credit score is 56.9%