Don’t you just love it when business just flows? Well, the refinance wave is over and now most lenders will have to work harder to keep that wave of new business flowing. But technology can help. For example, LendingQB officially unveiled a consumer web portal that keeps a lender’s pipeline flowing with lucrative leads. Here’s how it works:
The new web portal is complimentary, custom-branded and securely encrypted. It allows a lender’s customer to apply for loan approval online, 24 hours a day, 7 days a week. This portal works for lenders even when they’re not working. Convenient accessibility to necessary information gives the lender a competitive edge and empowers the customer to initiate the application submission. The portal also streamlines the process and reduces the lender’s burden to track down and collect new consumer information. Now LendingQB lenders can easily and successfully differentiate themselves from their competitors by elevating its customer’s online experience to get faster results on loan application status. The new portal features include:
>> No more e-mailing unsecured documents. Consumers can safely upload and store information within the portal and request a letter of approval within a 24 hour time frame after submitting the necessary documentation.
>> Immediate, real-time results. Essential for lean lenders, the portal can be configured to automatically pull credit reports & Desktop Underwriting after forms have been submitted online. A pre-approval letter can then be provided for customers.
>> PriceMyLoan engine. This pricing engine configures and produces accurate loan cost results. For example, LendingQB’s GFE feature produces closing costs & APR values.
“Our consumer portal allows lenders to issue pre-approvals 24/7. Given how important pre-approval letters are for purchase transactions, this new portal position lenders to be constantly accessible to consumers and their real estate agent partners,” said Binh Dang, LendingQB president.
About The Author
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 email@example.com.