How Our Mortgage Technology Helps YOU
When choosing a loan officer, some of the things people focus on have been the things people have focused on for years – decades, even; rate, APR, is the company local, do they have a good reputation? All of these factors are important, but in today’s world, another equally important piece of the puzzle is the mortgage technology a loan officer is equipped with.
First and foremost, is there technology to keep your data secure? If your loan officers email ends with @yahoo or @hotmail, they may be cutting some other corners, too. Beyond security, today’s mortgage technology offerings make the mortgage process immensely easier for borrowers, and also make things faster, and a faster process means a shorter rate lock which mean a better rate. So great technology actually makes getting a mortgage cheaper for customers on top of faster and easier!
Let’s look at some ways we use mortgage technology to make things more affordable for our customers, while offering a better process and more value!
Our digital mortgage application allows a borrower to securely upload all of the information and documentation needed for us to get a complete preapproval completed, and also contains information for us to digitally retrieve income and asset statements – that means if a customer banks with a financial institution using a digital platform (do you have online banking/login? If so, your bank probably does!) and your company does payroll through ADP or a similar service, you may not need to gather the standard documents that the “old way” of getting a mortgage required.
Less documentation means less to review, again resulting in faster turn around times for everything from a preapproval all the way through underwriting and closing! And we use AVM technology and offer appraisal waivers on qualifying loans when Fannie Mae or Freddie Mac allow for them – which results in even more savings and a faster closing time because we don’t have to wait for appraisals on every loan.
After closing, we provide valuable home and market insights to customers on a monthly basis, including AVM model home value estimates, and information on how home equity can help build wealth. Our technology also alerts us the moment the current market offers an interest rate or loan program that can better suit you, resulting in more savings. The best part of all of this is that as a home buyer, home owner refinancing, or real estate partner, you don’t have to think twice about any of it – we provide an app or desktop experience for your initial application, and once it’s complete, we handle the rest! Our mortgage technology saves time, money, and makes your life easy – it’s another way we work hard to provide value to every one of our customers and business partners.