Tech Trends: Two big events have hit the real estate world recently. First, the National Association of Realtors lost a big lawsuit that could force future changes to how real estate sales are done. Second, interest rates have been declining for five weeks straight. So, how do real estate professionals pivot and thrive in a market in flux?
“It’s been a difficult year for real estate, maybe a difficult 18 months. You know, what goes up must come down,” says Matthew VanFossen, a successful entrepreneur, and the CEO at Mortgage Automation Technologies (https://mortgageautomationtechnologies.com/), a point-of-sale provider. “We came off one of the best times the lending industry has ever seen.
“We saw historically low interest rates. Now we must pick up the phone and hunt for business again,” VanFossen continued. “The data speaks for itself. Originations are down and originators are struggling.”
That’s why Mortgage Automation Technologies launched what it calls The BIG Point of Sale. The company understands the challenges faced by industry professionals in today’s competitive market and aims to empower them with user-centric design, simplified workflows, and enhanced efficiency to make change management easy. Whether it’s facilitating borrower interactions, enabling mobility for loan originators, or ensuring data accuracy through integration partnerships, the solution drives operational excellence and customer satisfaction.
“Change management is really important for real estate professionals. We tend to reject change. We are creatures of habit,” says VanFossen. “We gravitate toward doing things a certain way because that’s what we are used to. In an ever-changing market that just doesn’t work. You need technology to help you evolve.
The Team at Mortgage Automation Technologies, Inc. has successfully integrated with multiple features of the ICE Mortgage Technology V3 Next generation API including, an Encompass integration with an interface module that allows a loan to deep link from The BIG Point of Sale web portal directly into the Encompass loan file from a mobile device. Mobility of the originator has been a core focus of the Encompass Product & Pricing Service integration by building a web interface module that allows the loan officer to obtain rates on current loans or new scenarios from their mobile device.
Additionally, by leveraging the Encompass eClose and Encompass Consumer Connect SSO integration, The BIG Point of Sale has built a web interface module that allows the loan officer and consumer to electronically sign loan disclosures and closing documents from their mobile device. The solution is being delivered via loan originator and consumer web portal and mobile applications as well as hardware kiosk devices.
“Procedures protocols inside of your company can and should be revamped. Think to yourself: Where can you gain efficiency? And then how do you help originators? It’s the perfect time to innovate if your phone is not ringing off the hook these days,” pointed out VanFossen. “Now is the time to look at the systems and processes that you haven’t mastered before and invest in your business.”
What’s next for Mortgage Automation Technologies? “At Mortgage Automation Technologies, we are customizing and streamlining the borrower experience, from simplified web-based portals to state-of-the-art digital kiosks. The company will continue to innovate, streamline, and automate the mortgage experience to connect our customers to new clients and partners,” VanFossen concluded.
Photo: Matthew VanFossen
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