Most mortgage transactions start online these days. What does that mean? You need a great point-of-sale (POS) system to be competitive. But what makes a POS truly great?
First, a good POS should grow with you. For example, Maxwell (https://himaxwell.com/) launched Maxwell Private Label Origination, a new “mortgage-as-a-service” solution designed to enable new and expanding financial institutions to enter the mortgage market. The technology automates the entire mortgage origination process, from intake of application to the secondary market, but you don’t have to use it all. This technology can grow with you as your business evolves.
“By expanding market access and empowering financial institutions to offer new mortgage products as a part of their businesses, Maxwell Private Label Origination will democratize access to homeownership in the U.S.,” said John Paasonen, CEO & Co-founder of Maxwell. The company touts that 88% of customers are fully implemented in less than four weeks.
Not only does the technology have to be quick and easy for you to use, it needs to be quick and easy for your borrower to use. As a result, you need your POS to have the most streamlined 1003 out there. As such, Loanzify’s 1003 (https://www.lenderhomepage.com/solutions/mortgage-broker) provides a sleek, easy-to-use interface that makes the intimidating application process less daunting, resulting in more completed apps. You can customize it to match your company’s look and feel, and let it automate your front-end tasks, so you can focus on more important things – like building relationships with your borrowers.
“Our mission has always been to streamline and simplify the home buying journey and provide transparency and effective communication to all stakeholders during the loan manufacturing process. We have been able to achieve that by developing an omnichannel digital mortgage platform with Loanzify at its core,” said Rocky Foroutan, CEO at LenderHomePage. Loanzify is an intuitive platform that makes home buying less intimidating for the consumer. The user-friendly application intake, messaging platform, and borrower-facing tools make the process enjoyable.
Lastly, you don’t want to go with a technology provider that might not survive a turbulent mortgage market like the one we are in right now. Companies like Roostify, (https://www.roostify.com/) which recently got acquired by industry juggernaut CoreLogic, will certainly be around. “We believe that this acquisition is an important transaction for the industry. From inception, Roostify’s mission has been to accelerate and streamline the home lending journey. Bringing together the power of CoreLogic’s data and analytics suite with the Roostify digital lending platform allows us to accelerate the journey towards a truly data-driven digital origination experience in one single platform,” said Roostify co-founder and CEO, Rajesh Bhat.
The technology offered by Roostify creates unique user journeys through configurable workflows. It empowers borrowers with self-service tools, while providing loan officers everything they need to quickly review, edit, and complete borrower applications on their behalf. The platform includes bi-directional integrations on the systems you already use, giving borrowers and loan officers everything, they need on a single, intuitive space.
The idea is to eliminate confusion, accelerate information transfer, and deliver a consistent brand experience. In order to achieve this end, you need a great POS.
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