In this episode of Fintech Impact, Jason interviews Gary Fooks, CEO and Co-Founder of 8Twelve Mortgages. They dive deep into how 8Twelve Mortgages is revolutionizing the mortgage broker industry by enhancing the collaboration experience among advisors, mortgage brokers, and consumers through digital reinvention. This discussion sheds light on the motivations behind the creation of 8Twelve Mortgages and how it's setting new standards for efficiency and customer satisfaction in the mortgage space.

Episode Highlights

• 00:50: Gary delves into the inception story of 8Twelve Mortgages, painting a picture of a mortgage brokerage envisioned as a one-stop digital shop. He draws comparisons to Amazon's disruption in retail, aiming to mirror such efficiency within the mortgage sector. This innovative ambition underlines 8Twelve's foundational goal: to streamline and modernize the often cumbersome process of mortgage transactions for all parties involved.
• 01:45: Gary outlines his methodology for revolutionizing the mortgage process, stressing the importance of direct involvement and the incremental introduction of efficiencies. By engaging directly with families and optimizing each step of the mortgage process, 8Twelve has significantly enhanced the speed and effectiveness of their service, a testament to their commitment to innovation and customer care.
• 04:16: Gary explains how 8Twelve leverages technology to overcome the inefficiency and manual nature of traditional mortgage brokering. By automating and streamlining the process, 8Twelve not only improves the client experience but also empowers brokers to handle transactions more efficiently, choosing to grow their business or achieve better work-life balance.
• 05:02: In this segment, Gary talks about the integration of financial advisors in the mortgage process, ensuring they remain informed and involved throughout their client's journey. This collaborative approach underscores the importance of maintaining the advisor-client trust continuum and aligning mortgage solutions with the client's broader financial objectives.
• 06:27: Gary and Jason discuss the tangible impact of 8Twelve's innovations on the mortgage process, particularly how they reduce the time and effort involved. Gary's insights reveal how technology not only accelerates transactions but also enhances the quality of service provided to both consumers and advisors.

Key Takeaways

• 8Twelve Mortgages is pioneering a digital reinvention in the mortgage brokerage space, emphasizing efficiency, transparency, and improved collaboration.
• By integrating technology into every step of the mortgage process, 8Twelve has significantly reduced transaction times and enhanced the consumer and advisor experience.
• The future of mortgage brokerage lies in holistic, technology-driven solutions that proactively manage and optimize clients' financial goals and outcomes.

Tweetable Quotes

• "In our quest to disrupt the mortgage industry, we've embraced technology at every step, proving that efficiency and clarity are not just possible; they're essential." - Gary Fooks
• "8Twelve Mortgages isn't just changing the game; we're redefining how stakeholders experience the mortgage process, from initiation to completion." - Gary Fooks

Resources Mentioned

• Facebook – Jason Pereira's Facebook
• LinkedIn – Jason Pereira's LinkedIn
• Woodgate.com – Sponsor
• https://8twelve.mortgage/
• https://www.linkedin.com/in/garyfooksmortgages/

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