*A New Tool For LOs Emerges*
**Fixing The Transparency Issue**
***PROGRESS in Lending has learned that Mortech, Inc., a mortgage technology software company specializing in solutions for mortgage bankers and secondary market teams, has released a new technology allowing loan officers the ability to exchange real-time mortgage application data directly with their borrowers. The secure consumer-facing portal, called Connect, is available completely free to users of Mortech’s MarksmanLMPplatform. The tool increases overall transparency. Here’s how:
****“Transparency and open communication are the keys to rebuilding trust with today’s homebuyer. And that’s exactly what the new Connect technology provides,” said Don Kracl, president of Mortech. “At the same time, originators are under pressure to expend fewer resources on every loan they close. The Connect platform makes that easy by opening up a communication line directly with the borrower and allowing them to provide more of the required information on their own.”
****Connect offers the following benefits in one tool without requiring originators to buy a new technology platform:
****>> Enhanced communication between consumers and lenders. Lender personally invites consumer to the Connect platform
****>> Eases the burdens for lenders associated with collecting 1003 loan application data from borrowers.
****>> Accelerates the application process for borrowers – full application inside Connect comes pre-populated with data already collected from any previous online short form applications.
****>> Allows lenders to access and exchange consumer data bi-directionally in LOS platform and other technologies (all data from 1003 app is stored inside MarksmanLMP).
****>> Provides borrowers with the ability to check mortgage rates for their specific lender.
****>> Gives consumers access to rate calculators: “How Much Can I Afford? Should I Refinance?” etc.
****>> Provides helpful information to consumers about the mortgage process.
****>> Creates new communication channels between lenders and Realtors for status updates.
****Connect is powered by TheMorty.com, also owned by Mortech and is seamlessly integrated into Mortech’s MarksmanLMP platform. Each originator portal is automatically branded for individual companies.