Key facts
- Bank of America and PNC tied for first place in Keynova Group's 2026 Mortgage-Home Equity Scorecard.
- The scorecard assesses digital capabilities of 12 leading U.S. mortgage and home equity lenders.
- Faster closing and funding options are becoming a key differentiator in home lending.
- The number of lenders offering accelerated closing and funding options has doubled in the past year.
- Lenders are employing digital tools such as automated asset valuation models and electronic signatures to expedite processes.
- Many lenders offer incentives to borrowers, including closing date guarantees and discounts for additional financial products.
Bank of America and PNC have secured the top ranking for the second consecutive year in Keynova Group’s 2026 Mortgage-Home Equity Scorecard, an annual evaluation of digital experiences offered by leading U.S. lenders. The scorecard assesses 12 banks and nonbank lenders on their digital capabilities, including application processes, closing and funding, customer relationship tools, and educational resources.
Keynova Group's study, conducted since 2005, highlights a shift in the home lending market towards faster closing and funding options, which are becoming a critical factor for origination growth and borrower satisfaction. Beth Robertson, managing director at Keynova Group, noted that consumers increasingly expect on-demand services across all retail sectors, making speed of approval and timely access to funds paramount in home lending.
The number of lenders offering accelerated closing and funding options has doubled in the past year, with one-third of lenders now providing such services, particularly among nonbank lenders who advertise rapid approvals and funding. To achieve this speed, lenders are utilizing digital tools such as automated asset valuation models, integration of third-party and internal account data, electronic signatures, and online notaries for remote closings. Additionally, two-thirds of mortgage lenders and over 40% of home equity lenders allow applicants to prefill applications using existing credentials.
Lenders are also employing incentives and enhanced content to attract and retain customers. Approximately 25% of lender websites feature an incentive if the stated closing date is missed, and about 42% offer benefits to mortgage holders who use additional financial products. Home purchase incentives, such as reduced closing costs or credits for shopping programs, are also common. To address the infrequent nature of mortgage and home equity product usage, lenders are increasingly using visual resources like videos and calculators to explain complex processes. All 12 evaluated lenders provide some form of rich media content, with 60% using video to explain the mortgage process and one-third detailing the home equity loan application steps. Chase and U.S. Bank also offer videos on financial hardship options to help borrowers avoid foreclosure.