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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 22 March 2025 F E A T U R E S T O R Y THE EVOLUTION OF POS TECHNOLOGY Point-of-sale (POS) solutions in the mortgage space are delivering more for less to meet the continued demands of tech-savvy homebuyers. B y M A R I A M O S K V E R I t's always interesting to watch how market conditions intersect with technological developments to drive the evolution of an industry, shaping the creation of new products and services. We only have to look at the mortgage industry, more specifically, mortgage point-of-sale (POS) solutions, to see this occurring. Like much of the mortgage sector, POS platforms are undergoing a dramatic transformation. The move to digital mortgage lend- ing continues to gain ground, with some lenders far into the digital transforma- tion journey and others just beginning to dip their toes. Regardless of their path, or how fast or slow they get there, lenders are making the shift toward more efficient, technology-informed solutions—including POSs—because the market is demanding it. As the industry continues its evolution from record volume peaks to deep volume declines, lenders are laser focused on how they can improve operations, in- crease cost efficiencies, and enhance the borrower experience. Technology is the fuel powering the evolution of mortgage POS platforms, but beyond merely incorporating automation to improve efficiency and productivity, lenders are looking for increased func- tionality from their POS solutions. A POS that simply facilitates the application no longer satisfies market demands. Instead, POS platforms are evolving to be more comprehensive tools that deliver more features, more benefits and more func- tionality to meet the changing expecta- tions of homebuyers. The way people are buying homes is changing as younger, more tech-savvy buyers become the largest homebuyer segment. It's inevitable that the demand for fast, digital mortgage lending from these younger homebuyers, including Gen Z and beyond, will only continue to grow. Importantly, younger homebuyers have different customer experience expectations than older buyers. They were raised with technology at their fingertips, including social media; instant, digital access to information, and fast delivery of goods and services procured with only a couple of clicks. They expect a frictionless experience with a fully automated platform that is fast, friendly, and straightforward. It's an expectation that a mortgage POS should meet younger buyers where they are and deliver expanded functionality and borrower-centric features that can create stickiness with prospective bor- rowers throughout the entire process, beginning from when they first think about buying a home through final loan closing. The mortgage POS of the not-too- distant future will be even more stream- lined than what we're seeing today and offer features that engage with the consumer even before they are contem- plating a mortgage. For example, it may have a front-end lead-generation com- ponent tied to the home search process or tools to facilitate financial scenario building that would allow prospective borrowers to explore various pricing, location, home size, and feature scenar- ios. This is clearly a more interactive borrower engagement model that goes beyond the early technology of simple mortgage calculators. The technology for mortgage POS platforms is evolving to help borrowers—with guidance from their loan officers—identify things like outstanding debt that could be reduced to improve their purchasing power or af- fordability questions that can help them understand their best loan options. With more than 25 years of executive management and legal compli- ance experience, M A R I A M O S K V E R , CEO, Cloudvirga has boldly established herself in the mortgage industry. Moskver leads the fintech firm in developing point- of-sale solutions tailored for lenders. Her leadership was pivotal in transforming Cloudvirga from a startup to a market leader, culminating in its 2021 acquisi- tion by Stewart. As CEO, she continues to lead Cloudvirga in influencing the evolution of technology in the mortgage industry.