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How can we improve the customer experience of obtaining a mortgage?
Challenge Type: business
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$1,600
top 50%
77
submissions
DONE
65 months ago

We are only interested in solutions from solvers who have purchased a home and have a mortgage or are planning to purchase a home in the next 12 months and apply for a mortgage and are located in Canada, the United Kingdom, or the United States.

Getting a mortgage can be a combination of stressful, intimidating, confusing, and exhausting, especially for first-time homebuyers. Should you get a fixed rate or an adjustable/variable one? For how long? What will have to be done in person, and what can be done remotely? The questions are seemingly endless.

As a financial services provider committed to our customers, we want to improve this experience. We want to understand what you would change about the mortgage process and how.

Deliverables

Tell us how you would improve the mortgage experience. Specifically, answer the following questions in detail:

  1. Describe a fantastic customer experience you recently had. It could be with any company, and does not need to be mortgage-related. What about it was exceptional? How did it make you feel?
  2. What is the most difficult part of getting a mortgage? Why did it seem difficult--was it confusing, overwhelming, or tough for some other reason?
  3. What is your ideal mortgage experience? How does your ideal experience improve on the difficulty you identified in Question 2? What changes and additions did you make?

REMINDER: We are only interested in solutions from homeowners with mortgages or people expecting to buy a home and obtain a mortgage in the next 12 months. Only solvers in Canada, the United Kingdom, and the United States will be eligible for rewards. 

    Submissions will be graded on the following criteria:
  • Meets Deliverables
  • Creativity
  • Clarity
Reward Tiers
Top 10%
will share $1,000
Next 15%
will share $400
Next 25%
will share $200
Actual individual rewards will be based on the total number of eligible solutions.
Leaderboard
$125.00 Matthew Gaiser Queen's University
$125.00 Tara Lienlokken Penn Foster
$125.00 James Roberts Colorado State University
$125.00 Jacob Munson Montana State University
$125.00 X Bancroft Carleton University
$125.00 Luis Castro Montero Penn Foster
$125.00 Jennifer Miller Walden University
$125.00 Troy Muller University of Central Florida
$33.30 Lweendo Muntanga University of Central Florida
$33.30 Monique Viau Michigan State University
$33.30 Xaand Bancroft Ottawa
$33.30 Brian Wynder Ursinus College
$33.30 Thao Nguyen SJSU
$33.30 J C University of Alberta
$33.30 Justin Diemert Chapman University
$33.30 Jaden Feddock Brigham Young University
$33.30 Katie McMullen University of Wisconsin
$33.30 Renata Falesnikova Heriot Watt
$33.30 Mitchell Regier University of Saskatchewan
$33.30 nicholas mageto san jose state university
$10.50 Maithry Madasu University of North Texas
$10.50 Sean Boling Community College of the Air Force
$10.50 Jaden Boudle UNH
$10.50 Olivia Wismer Raritan Valley CC
$10.50 Kristy Ng Ryerson University
$10.50 Bridgette Hilton Liberty University
$10.50 Andrea Markowski University of Oregon
$10.50 JOCABETH AMBUTITA Santa Barbara City College
$10.50 Robert Carmona University of Toronto
$10.50 Francis Daniel Santia Harvard University
$10.50 Dr. Janelle Christine Simmons Liberty University
$10.50 Mukund Madhav Goyal Johns Hopkins University
$10.50 David Tilisho Oxford University
$10.50 Vlad Daniel Porumb Coventry University
$10.50 Byron Louw Pennsylvania State University
$10.50 Leia B Warwick
$10.50 arthur braga puc-rio
$10.50 Melody Barry Florida Atlantic University
$10.50 Nick Lebbano
Submission questions


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Which category best describes you?

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What is your gender?

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