By Dean McCall and Laura Mays

The COVID-19 pandemic has turbo-charged banks’ drive to embrace digital mortgage technology, and customers aren’t just along for the ride. Their attitudes toward technology use are evolving, too.

As the effects of the pandemic have reverberated across the U.S. economy since March, banks—by necessity—have shifted increasingly toward electronic delivery of a wide range of services, including mortgages. The same, of course, goes for borrowers. The shift toward digital mortgages coincides with an 11-year-high in purchase applications. The pandemic has not cooled the pent-up demand for purchase mortgages, and record-low long-term interest rates have fueled that demand while also triggering a surge in refinancing activity.

Amid this mortgage boom and the concurrent shift toward greater use of mortgage technology, bankers

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