Plaza Home Mortgage launches LINQ correspondent portal
Plaza Home Mortgage®, a leading wholesale and correspondent mortgage lender, has launched LINQ, a new loan acquisition system (LAS) that will accelerate loan purchases and make it even easier for correspondent clients to do business with Plaza, according to a statement from the company.
LINQ provides correspondents with real time views of conditions and the status of their purchase reviews, allowing them to easily connect, or “link up with” Plaza. Correspondents can use LINQ to lock and re-lock rates instantly and will no longer need to email Plaza’s rate lock desk. LINQ also allows the easy upload of files and data, once deals have closed.
Maxwell adds underwriting and closing services to fulfillment platform
Digital mortgage platform Maxwell has added underwriting and closing services to the Maxwell Fulfillment Platform. Maxwell’s underwriting and closing solutions are available to small and midsize lenders on a white-label basis, and all outsourced personnel function as an integrated part of the lender’s operations team. Maxwell’s uniquely high quality data is gathered on the front end so the underwriting process is faster, ultimately resulting in an improved borrower and lender experience.
Today’s unpredictable, high volume market creates a potentially costly challenge for small and midsize lenders, which struggle to scale and accommodate wildly fluctuating volume. The primary challenge they face is meeting output demands. With Maxwell’s outsourced solutions, lenders can add team members as needed to accommodate the ebbs and flows of market dynamics while maintaining full ownership of customer data and delivering a fully branded, streamlined loan experience to borrowers.
VIP Mortgage implements Top of Mind’s Surefire Power Messaging
Arizona-based independent mortgage lender VIP Mortgage is reporting that it has generated hundreds of extra deals in Q2 of 2020 with the help of Surefire Power Messaging from Top of Mind Networks (Top of Mind), a leading customer relationship management (CRM) and marketing automation software for the mortgage industry.
Power Messaging is a Surefire CRM feature that enables lenders to engage prospects and customers with personal and timely text message communications, giving lenders control over when, to whom and under which circumstances messages are sent. According to a statement by Top of Mind Networks, during Q2, loan officers at VIP Mortgage closed an average of 56% more loans per month compared to LOs at similarly-sized peers who hadn’t yet adopted Power Messaging. VIP Mortgage’s Power Messaging campaigns generated a total of 332 deals over the course of Q2, of which 38.6% converted to closed loans with an average loan amount of $303,000.
FormFree enhances Encompass Consumer Connect integration
FormFree® has enhanced the integration between its AccountChek® verification service and Encompass Consumer Connect®. According to a statement by the company, borrower data collected by AccountChek in Consumer Connect will now automatically map to the Form 1003 (the Universal Residential Loan Application) in the Ellie Mae® Digital Lending Platform, saving lenders time and relieving them of the frustration and risk associated with manual data entry. The upgrade also fully embeds AccountChek within the Consumer Connect user experience (UX) for easier borrower navigation and reduced application fall-out.
FormFree’s patented AccountChek and AccountChek Plus™ provide lenders actionable intelligence on borrowers’ ability to repay loans by consolidating, analyzing and verifying asset account balances and details, employment data and income data obtained directly from financial institutions and other authoritative sources.
SimpleNexus extends Ellie Mae integration with hybrid eClosings for lenders and borrowers
SimpleNexus, developer a digital mortgage platform for loan officers, borrowers, real estate agents and settlement agents, has made available its recently launched hybrid eClosing feature on the Ellie Mae® Digital Lending Platform. SimpleNexus eClosing enables lenders to conduct hybrid closings for purchase and refinance loans, resulting in higher quality loans and faster delivery of those loans to investors, according to a statement by the company. In a hybrid eClosing, borrowers electronically sign (eSign) home loan documents that do not require notarization before meeting with a settlement agent or notary to finalize the closing. Closing appointments are reduced to only a few minutes, since relatively few documents require in-person signatures.