What Has Been The Evolution of the Mortgage And Loans Software Market in Recent Years?
The mortgage and loans software market has seen considerable growth due to a variety of factors.
• The scale of the mortgage and loan software market has seen a swift expansion in past years. The market size is projected to inflate from $16.08 billion in 2024, reaching a striking $18.46 billion in 2025, with a compound annual growth rate (CAGR) of 14.8%.
Factors including the surge in digital transformation, increased utilization of smartphones, the emergence of online lending platforms, a boosted demand for customer-focused solutions, and the ascendance of open banking have contributed to this significant growth observed in the historical timeframe.
How Will the Mortgage And Loans Software Market?
The mortgage and loans software market is expected to maintain its strong growth trajectory in upcoming years.
• The industry for mortgage and loans software is projected to expand rapidly in the coming years, reaching a market size of $31.63 billion by 2029 with a compound annual growth rate (CAGR) of 14.4%.
The surge anticipated in the forecast period is due to heightened demand for automated loan handling, growing digitization and automation, escalating internet usage, consumer expectations and the rising adoption of digital utilities. The forecast period also points towards prevailing trends such as integration with fintech platforms, advanced automation for expedited loan processes, upgraded fraud detection systems, the growing adoption of cloud technology, and digital transformation.
Which Factors Are Boosting Growth In The Mortgage And Loans Software Market?
Mobile banking's increasing popularity is projected to boost the mortgage and loans software market. This digital service lets people conduct financial transfers via a mobile device. The burgeoning popularity of mobile banking can be credited to a higher rate of smartphone usage, enhanced internet accessibility, consumer preference for online financial services and the development of secure payment technologies for mobiles. The functionality of mortgage and loan software is demonstrated through mobile banking, as it allows users to submit loan applications, monitor repayments, estimate EMIs, and handle mortgages efficiently, thus promoting involvement and financial ease. As per a report by UK Finance Limited, a UK-based trade association, in July 2024, the percentage of adults registered for mobile payments increased to 42% in 2023, up from 30% in 2022. Furthermore, approximately 34% of the population made use of mobile payments on a monthly basis. Consequently, the escalating trend of mobile banking is fuelling the growth of the mortgage and loans software market.
What Key Areas Define The Segmentation Of The Global Mortgage And Loans Software Market?
The mortgage and loans software market covered in this report is segmented –
1) By Software Type: Loan Origination Software, Loan Servicing Software, Loan Management Software, Compliance Management Software, Other Software Type
2) By Deployment Mode: On-Premises, Cloud-Based
3) By Application: Residential Mortgage, Commercial Mortgage, Consumer Loans, Other Application
4) By End-User: Banks, Credit Unions, Mortgage Lenders, Non-Banking Financial Institutions, Other End Users
Subsegments:
1) By Loan Origination Software: Automated Underwriting Systems, Credit Decisioning Software, Loan Pricing Software, Document Management Solutions, eClosing And eSignature Software
2) By Loan Servicing Software: Payment Processing Software, Escrow And Tax Management Software, Delinquency And Default Management Software, Loan Modification Software, Customer Self-Service Portals
3) By Loan Management Software: Portfolio Management Software, Risk And Fraud Management Software, Collateral Management Software, Debt Collection Software, AI-Powered Loan Analytics
4) By Compliance Management Software: Regulatory Reporting Software, Anti-Money Laundering (AML) Software, Know Your Customer (KYC) Compliance Software, Fair Lending Compliance Software, Data Privacy And Security Compliance Software
5) By Other Software Type: Mortgage Broker Software, Reverse Mortgage Software, Construction Loan Management Software, Peer-to-Peer (P2P) Lending Software, Loan Marketplace Platforms
Pre-Book The Mortgage And Loans Software Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Influencing The Growth Of The Mortgage And Loans Software Market?
Major companies operating in a mortgage and loans software market are focusing on developing innovative solutions such as voice-based AI loan assistants, to improve customer experience, streamline loan origination, and enhance personalization. Voice-based AI loan assistants are artificial intelligence-powered virtual assistants that use voice recognition and natural language processing (NLP) to help customers apply for, manage, and inquire about loans through voice interactions. These assistants are integrated into banking apps, and call centers, or smart devices and can provide information on loan eligibility, interest rates, repayment schedules. For instance, in October 2024, Better Home & Finance Holding Company, a US-based finance service company, launched Betsy, the first voice-based AI loan assistant for the US mortgage industry. Betsy streamlines the mortgage process by automating routine tasks and providing real-time customer support. This innovation enhances efficiency, reduces costs, and improves the overall customer experience in the mortgage industry. This capability allows loan officers to focus on more complex discussions regarding interest rates and other licensed activities, thus streamlining the overall mortgage process.
Who Are the Key Players In The Mortgage And Loans Software Market?
Major companies operating in the mortgage and loans software market are:
• Fiserv Inc.
• First American Financial Corporation
• Wolters Kluwer Financial Services Inc.
• Finastra Inc.
• Black Knight Inc.
• The Mortgage Office Inc.
• Blend Inc.
• PathSoftware Inc.
• Provenir Inc.
• MortgageCadence LLC
• Financial Industry Computer Systems Inc.
• TruHome Solutions LLC
• Turnkey Lender Inc.
• Calyx Software Inc.
• SimpleNexus LLC
• LoanLogics Inc.
• LoanPro Inc.
• LendingQB LLC
• Better Mortgage Corporation
• Ellie Mae Inc.
What Is The Most Dominant Region In The Mortgage And Loans Software Market?
North America was the largest region in the mortgage and loans software market in 2024. The regions covered in the mortgage and loans software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
