The Evolution Of Mortgage Tech Development

The business world is buzzing with new technologies, many arriving so quickly that executives often struggle to know when, or whether, to adopt them. Artificial intelligence is frequently credited with fueling this wave of innovation, but seasoned technologists recognize the relationship works in reverse: it’s the evolution of development methods that is enabling AI, not the other way around.

To explore this shift, we spoke with Lokesh Pathak, Chief Information Officer at Mortgage Cadence. With more than 28 years of experience in engineering, product development, and IT strategy, Pathak brings deep expertise in lending technology. He shared his perspective on how mortgage tech development is changing, what AI means for software delivery, and why higher standards of reliability must define the next era of mortgage solutions.

QUESTION: First, tell us about your background and how you came to your current position.

LOKESH PATHAK: Before joining Mortgage Cadence, I served as a senior engineering leader at Nucleus Software, a global provider of transaction banking and loan management systems. There, I led teams delivering end-to-end lending solutions, from origination through servicing and collections, across both cloud and on-premise deployments. Prior to that, I spent a decade at GlobalLogic, overseeing engineering for nearly 25 clients across the U.S., Europe, and Asia-Pacific.

For the past ten years, I’ve been immersed in lending technology, addressing the same challenges mortgage lenders face every day: streamlining application processing, managing risk, and elevating the borrower experience.

QUESTION: We seem to be seeing new technologies offered to mortgage lenders on a near-constant basis. Is AI responsible for this?

LOKESH PATHAK: Not in the way many assume. AI is helping development teams become more efficient, but the real driver is how software development itself has evolved.

Twenty-five years ago, developers spent months memorizing programming languages and relying on heavy reference manuals. Today, that world has disappeared. AI has transformed the Software Development Life Cycle (SDLC). Developers now have intelligent assistants that help them write not just faster code, but higher-quality code. This has dramatically accelerated development and lowered the barrier to building sophisticated applications.

The rise of agile development has been equally transformative. Instead of long release cycles, we now ship working software every two weeks. I’ve managed global teams operating in 24-hour cycles, validating code continuously across regions. You wake up to tested, production-ready code, already prepared for the next iteration.

This kind of continuous delivery mirrors the process improvements that advanced manufacturing industries have relied on for decades.

QUESTION: That sounds like good news for the industry.

LOKESH PATHAK: It is, if the tools that result from human-AI collaboration are market-ready. Too often, we see solutions rushed to release without the necessary rigor.

The software industry lacks the engineering discipline that defines excellence in other fields. For example, we’ve normalized the role of “bug trackers,” people dedicated to identifying issues in software already in use and prioritizing fixes. In other industries, whether it’s automobiles or aerospace, quality expectations are much higher. A car leaving the factory or a rocket heading into space is expected to perform reliably from day one.

Mortgage technology deserves that same standard of reliability.

QUESTION: Is that even possible to achieve in our industry?

LOKESH PATHAK: Absolutely. The mortgage industry is at an inflection point. AI allows development teams to move faster than ever, but speed without quality simply creates problems more quickly.

AI will be part of the solution, but the real difference will come from people, developers and engineers who combine AI-driven efficiency with stronger quality standards. When lenders originate loans in the future, it won’t just be because AI built better software. It will be because people used AI responsibly to deliver software that is faster, stronger, and more reliable.

INSIDER PROFILE

As CIO of Mortgage Cadence, Lokesh focuses on enhancing operational efficiency, accelerating innovation, and empowering teams to drive continued success and value for our clients.

With more than 27 years of rich experience in software product operations, engineering, and development, he has held senior leadership roles and led several transformational initiatives that have driven innovation, customer engagement, and operational excellence across global IT businesses.

In his previous roles, Lokesh has successfully built and mentored high-performing teams, enabled digital transformation, and delivered impactful solutions for clients worldwide. With deep expertise in technology, product development, and consulting, he is known for his ability to deliver best-in-class experiences through thoughtful strategy and execution.