Market Analysis: LOS Joins The Mobile Revolution

*LOS Joins The Mobile Revolution*
**By Tony Garritano**

***Those fingers are flying over mobile keyboards with people now spending, on average, 94 minutes per day using mobile applications, according to analytics firm Flurry. Meanwhile, web consumption, on both desktop and mobile devices, has started to show a slight decrease. Realizing this trend PROGRESS in Lending was the first business-to-business mortgage publishing company to expose our content as well as mortgage industry Tweets, cutting-edge white papers and prominent research reports all within a free app that you can now get on iTunes. For your convenience the app is called called Progress in Lending. With the expansion of mobile technology, PROGRESS in Lending has learned of an LOS that is now joining the mobile revolution. Here’s the story:

****Mortgage lending technology provider LendingQB announced the availability of mobile app companions to their cloud-based, end-to-end loan origination system. The LendingQB apps are designed to enhance the loan closing process by keeping loan officers in constant contact with their loan origination system. “Mobile applications need to be more than a gimmick,” said Binh Dang, LendingQB’s managing partner. “The LendingQB mobile apps provide useful functionality that helps loan officers stay on top of their loans and foster better communication with their customers.”

****Available for free on both Android-based smartphones and Apple’s iPhone, the LendingQB mobile app is linked directly to the full LendingQB mortgage loan origination system and provides mortgage professionals with the ability to view real-time status updates of loans in their pipeline, as well as track when loan milestones have been achieved.

****The LendingQB mobile app also includes a loan pre-qualification and pricing tool that is linked to LendingQB’s built-in automated underwriting engine, PriceMyLoan. Users can enter in loan scenarios and instantly view eligibility and real-time pricing results. Loan scenarios can be saved for quick access at a later time.

****“Our mobile apps are designed to leverage the best features of our full loan origination system, but in a way that makes sense,” said Linn Cook, marketing director at LendingQB. “Providing loan officers a snap shot of their loan pipeline not only keeps them informed, but it cuts down on the amount of calls that loan processors and underwriters have to field. Additionally, using a smartphone to get instant quotes on loan eligibility and pricing lets loan officers make a powerful impression on prospects and generate more leads.”

****LendingQB is a 100% web browser-based loan origination system designed for mortgage lenders and bankers. A set of tools are available to facilitate a seamless end-to-end mortgage workflow process, from loan origination to funding. But the cloud-based aspect of the system is what enables LendingQB to deliver a unique mobile experience.

****“Web-based or cloud-based computing is no longer an experiment, it’s become a virtual necessity in the business world,” said Cook. “The same can be said about mobile computing. It’s not just about emails or playing games. We believe that mobile loan origination is going to transform the way that mortgage lenders do business. Our goal is to keep our clients on the leading edge of mortgage technology.”

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.