Mortgage Hub
The platform that aims to revolutionise the mortgage process.
Role
Design Lead
Design team
2 designers
Time
8 months
Company
Target Group
Problem
The existing mortgage origination process in the UK suffers from inefficiencies, a lack of customer satisfaction, and a disconnect between borrowers, brokers, and underwriters.
Lack of visibility into the progress of an application makes it difficult to track the status of a loan for borrowers and brokers. Communication between brokers and underwriters is often fragmented, relying heavily on emails and phone calls. Additionally, the dependence on paper-based documentation and repetitive data entry leads to inefficiencies, potential errors, and increased processing times.
Solution
To streamline the mortgage origination process, creating an interlink between the borrowers, brokers, and lenders. That would improve the clarity and efficiency of interactions between them, reducing the need for offline communication and improving user experience.
My role
I joined this project as a design lead and designed the lender platform from scratch. I created user journeys, wireframes, and designs based on insights and requirements found in user testing, feedback, and discovery. I then further validated my designs during usability testing sessions with underwriters to ensure every aspect of the user journey satisfies their needs and complies with legal requirements and processes.
Discover & define
I started my discovery by setting up a number of workshops with the underwriters.
Starting with a WHODO exercise, I uncovered all the roles that fit under the “lender” term and all of the actions that they take.
I then continued with an empathy mapping session. This helped me define their existing Pains and look into potential Gains/Opportunities.
I synthesised the outcomes of the session and defined three clear areas for improvement, formulating them into 3 problem statements.
User pain points & opportunities
Process efficiency
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Processes taking too long
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Involvement needed in early stages that can be automated
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Information overload and lack of task prioritisation
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Timelines and deadlines
Opportunities
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Streamline workflow
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Improve focus
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Prioritise information
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Reduce friction
Manual work
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Manual work that causes errors
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Manual Loan-to-Value (LTV) calculation
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Every document needs to be printed to review
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Documentation verification
Opportunities
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Improve accuracy
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Remove redundant tasks
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Automate processes
Communcation
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Lack of communication with brokers
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Delayed responses and feedback from brokers
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The constant need to communicate offline via a phone or email
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Irrelevant documents submitted
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Insufficient information provided by brokers
Opportunities
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Allow smooth collaboration
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Create real-time feedback
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Transparent information flow
Problem definition
1. How might we improve current processes and reduce friction?
2. How might we reduce the amount of manual work and remove redundant tasks?
3. How might we improve communication between the underwriters and the brokers?
Improving process and underwriters’ experience
I started designing the lender platform with the broker's platform as a reference point.
My goal was to establish a clear structure and define the information architecture.
I split the information into two columns based on the actions required. In the left column, I presented the information and details provided by the broker. It needed a thorough review, but no immediate action was necessary.
The right column was for actions. I put all the information in it that needed a response or action, like reviewing documents, making underwriting decisions, taking notes, and completing offers.
By doing this, I made it easier for the lenders to find what they needed and know what actions to take.
Reducing manual work
The main frustration and pain point expressed by underwriters during discovery interviews was the lack of ability to preview borrowers’ details and documentation.
With the existing processes in place, underwriters need to print out documents to compare them or navigate between multiple tabs while dealing with sensitive and accurate data that creates room for error and delays the process.
I came up with a solution that enabled underwriters to review documents while accessing borrowers’ information by presenting case details and documents side by side.
When tested with underwriters in further usability sessions, this feature had the most positive feedback and improved overall case processing speed.
Improving communication
My key challenge on this project was to ensure the broker’s and lender’s platforms worked in sync.
I needed to create a back-and-forth communication that would present both parties with all the relevant and up-to-date information at any given time.
To enable that, I have integrated status updates from both sides, including case notes on the underwriter’s side.
What's next?
The Mortgage Hub Platform has been fully developed as an MVP. Target Group was about to sign up their first lender to integrate Mortgage Hub when UK’s mortgage rates surged in 2022, affecting the entire sector and postponing the deal.
They are currently in talks with several lenders and are planning to go live with Mortgage Hub by the end of 2023.
