Market Analysis: The Mobile Trend Continues

*The Mobile Trend Continues*
**By Tony Garritano**

***Last week I told you about how origination vendor Mortgage Cadence was going mobile. It’s the wave of the future my friends. Today PROGRESS in Lending has learned that LenderMobile, a provider of mobile mortgage loan applications for iPad computers, has upgraded LenderMobile, its flagship application, to enable the ordering of vendor services. Loan officers and other originators now can order, directly from their iPads, credit reports, identity checks, tax return verifications, flood determinations, among other third-party vendor requests. Here’s the scoop:

****When loan officers and originators order third-party vendor services on the iPad using the new ordering feature of the LenderMobile+ app, the necessary forms, such as the IRS 4506-T for tax return transcripts, are forwarded to the LenderMobile cloud computing system where they are automatically validated, processed and sent to the vendors. The information from the vendors is received and stored in the LenderMobile cloud. Instant vendor results are immediately available on the iPad for review by loan agents and then can be forwarded to loan origination systems (LOS). For vendor orders requiring more processing time, an Apple push notification will appear on the iPad, alerting loan agents and originators when the results from the vendor are available.

****By using LenderMobile+, loan originators can fill in all the required mortgage application forms, save the loan data and transfer it to their LOS. Borrowers can electronically sign the loan application directly on the iPad.

****The LenderMobile+ application can be downloaded at no charge from the online Apple App store. A monthly subscription is required for loan originators using the LenderMobile+ app to order services from third-party vendors and submit mortgage loan documents to their LOS. The subscription is available on www.LenderMobile.com.

****“LenderMobile+ can support a list of third-party service providers that is easily customized and expanded to accommodate the preferred vendors of each mortgage lender,” said Iordan Gavazov, CEO and co-founder of LenderMobile.

****“Loan agents using the services ordering feature on our iPad app are able to request a product and price list for a particular loan application from their product and pricing matrix vendor,” Gavazov added. “Borrowers can then choose the mortgage product and price that best suits them, right on the iPad.”

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.