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Integration Makes Lender And Borrower Collaboration More Effortless

As mortgage lenders increasingly invest in modernizing their technology experience, Maxwell, a provider of digital mortgage automation software for small and midsize lenders, has integrated with LendingQB to make it easier for lenders and borrowers to collaborate effortlessly through the mortgage process.

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LendingQB continues to extend its integrations through its web-based LOS system . The LOS’ open-architecture application program interface (API) enables lenders to select the tools that best help their efficiency. The LOS was cited in the STRATMOR Group’s December 2016 Technology Insights report as achieving an end user effectiveness rating of 93%, top marks amongst the major LOS providers.

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“In this age of platform interoperability, LendingQB gets it — an open origination platform that empowers its users to optimize the experience for speed, security and delight,” said John Paasonen, CEO of Maxwell. “We’re thrilled to integrate with a likeminded partner as a showcase to Maxwell’s API that gives flexibility back to the customer.”

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Maxwell automates the way that mortgage lenders work with their clients to close a mortgage, from the loan application to assembling a borrower’s file. Lending teams on Maxwell collaborate with homebuyers in a modern digital workspace, on any device, with connectivity to thousands of data sources. Designed by usability experts, Maxwell reports that loans on its platform close 22 days faster than the industry average.

The integration with LendingQB will enable Maxwell clients to seamlessly sync borrower data with the loan origination system, trigger automated notifications to borrowers and real estate agents, and securely exchange documents and information.

“The ability to provide innovative technology such as an open architecture API offers lenders an added value as their organizations continue to grow and evolve,” said Tim Nguyen, president of LendingQB. “This partnership with Maxwell affirms our commitment to streamlining our clients’ access to products and services that power their business. Innovation is accelerating in this industry and lenders benefit when they can utilize best-of-breed solutions to streamline the mortgage process.”

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Optimal Blue Partners With New POS To Transform The Mortgage Process

Optimal Blue has partnered with Capsilon Corporation to provide a unique digital mortgage experience with highly accurate, real-time product eligibility and pricing content. Here’s the scoop:

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The Capsilon digital mortgage platform leverages the power of the cloud and intelligent process automation to evolve the existing mortgage production process into a modern digital mortgage factory. By integrating Optimal Blue’s real-time product eligibility and pricing content directly into the upcoming Capsilon mortgage point-of-sale solutions, joint clients will be able to improve overall compliance, create numerous process efficiencies, and deliver an engaging origination experience.

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“Capsilon is transforming the mortgage industry with intelligent process automation that increases the velocity and accuracy of every step in the loan production process,” said Sanjeev Malaney, CEO of Capsilon. “Our partnership with Optimal Blue provides the data connectivity, integrated pricing workflows, and process automation lenders require to accelerate the loan production process and improve customer satisfaction.”

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Optimal Blue’s eCommerce platform consumes product and pricing content from a network of investors, provides intelligent selection and customization of that content as desired by lenders, and distributes the personalized results to technology providers via RESTful APIs – wherever, whenever it matters most.

“Our goal is to further unite the industry with our digital marketplace and break down the traditional vendor silos that have held back industry success,” said Optimal Blue CEO Scott Happ. “Strategic integrations with digital mortgage technology leaders such as Capsilon will move the industry forward.”

About The Author

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.
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Integration Offers Borrowers A Digital Application Process

Black Knight Financial Services, Inc. is working with Lender Price to offer a consumer-facing interface that will deliver a digital loan application process. Through Black Knight’s integration with Lender Price’s advanced digital user interface and other capabilities, Black Knight’s LoanSphere Empower loan origination system (LOS) clients can now offer their customers the ability to apply for a loan online from virtually any mobile device.

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“Black Knight is a true partner in innovation that shares our ideals to provide lenders the technologies needed to meet the evolving needs of today’s home buying market, while staying both competitive and compliant,” said Dawar Alimi, Lender Price co-founder and CEO.

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“Black Knight looked at several options, and we believe Lender Price was the very best choice to support our clients’ needs and advance our solutions,” said Jerry Halbrook, president of Black Knight’s Origination Technologies and Enterprise Business Intelligence divisions.

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Lender Price’s digital loan application interface, which can be custom-branded and configured to each lender’s specific requirements, is integrated with Black Knight’s Empower LOS to support a dynamic, accessible loan origination process. The digital interface helps lenders:

>>Offer consumers the ability to complete a digital loan application using their mobile device, which is fully integrated with the Empower LOS platform.

>>Offer a voice-enabled loan application solution that can ask consumers questions in multiple languages.

>>Deliver real-time product eligibility, interest rates and fees.

>>Secure verification of credit, income and assets through a combination of Black Knight’s LoanSphere Exchange technology and proprietary integrations provided by Lender Price.

>>Verify property and tax details using Black Knight’s vast public records database or by leveraging Black Knight’s Data Hub, which gathers, aggregates and links Black Knight application and proprietary industry data to provide a holistic view of a client’s loans.

>>Obtain property valuations using a Black Knight automated valuation model (AVM), tested for accuracy and reliability.

>>Upload documents from any mobile device using optical character recognition (OCR) technology, and index those documents in the Empower LOS.

“The addition of a powerful, consumer-facing digital user interface is a tremendous breakthrough in advancing our digital strategies and creating more competitive advantages for our clients,” said Halbrook.  “Combining the comprehensive technology capabilities of Black Knight’s Empower system with Lender Price’s advanced digital capabilities will increase the speed to market for our clients that are aggressively expanding into the digital marketplace and transform the user experience for their consumers.”

The integration of Black Knight’s and Lender Price’s capabilities can also support lead generation with existing customers. Linking a client’s property and borrower information from Black Knight’s Data Hub with a Black Knight AVM and Lender Price’s Product, Pricing & Eligibility Engine can help clients identify high-quality refinance candidates from their loan portfolios. Details about current loan-to-value ratio, recommended products and interest rates can be provided to help the loan officer present the benefits of refinancing to the borrower at the point of sale.

Empower’s seamless integration with Black Knight’s LoanSphere MSP servicing platform will offer clients true end-to-end digital capabilities and loan support, from origination to servicing and default. The MSP system is used to service more than 30 million active loans for many of the nation’s largest financial institutions and is scalable to any size portfolio.

About The Author

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.
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Innovative New Player Raises $2.25M In Seed Funding

The Digital Mortgage is all the talk. The definition of Digital Mortgage varies, but what every lender really wants and needs at a minimum is a fully digital point-of-sale. One of the newer players in this space making a lot of waves is MortgageHippo, Inc. And to this end, this vendor has announced today that it has raised approximately $2.25 million in seed capital. The round was led by CMFG Ventures, LLC, the venture capital entity of CUNA Mutual Group.

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“These are very exciting times for technology companies in the mortgage sector, as lenders of all types and sizes fully embrace the digital transformation sweeping through the industry,” said Michael Salichs, co-founder and President of MortgageHippo. “Several market forces over the last couple of years have pushed the mortgage industry towards digital innovation and MortgageHippo is helping lenders with the transition.”

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Among those market forces is the arrival of Millennials into the housing market, support by the GSEs of digital technology in loan underwriting and the launch and heavy marketing of digital mortgage platforms by a handful of prominent lenders.

“The mortgage process can be cumbersome, leading to decreased customer satisfaction, inefficiency and higher origination costs,” said Brian Kaas, President and Managing Director of CMFG Ventures. “Our investment in MortgageHippo will bring new innovation to the digital mortgage experience that can help credit unions deliver a superior online mortgage experience to their members in a way they prefer to engage in the process.”

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Since launching its digital mortgage platform – known as SwiftDLP™ – as a white-label solution, MortgageHippo has signed several top national and regional lenders and brokers who use the platform to deliver a modern borrowing experience to their customers and increase their conversions. “We are very excited about CMFG Ventures’ investment in our company and the strategic value and familiarity with the credit union market they bring to the table,” said Valentin Saportas, co-founder and CEO of MortgageHippo.

The company will use the funds primarily to further expand its software development and sales team. For more information, visit the MortgageHippo or CMFG Ventures website.

MortgageHippo raised an initial seed round of $750,000 in January 2016 led by the venture arm of real estate brokerage, @properties. Today’s announcement marks the official close to their seed round with an additional $1.5 million.

About The Author

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.
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Integrations Foster Innovation

Compliance has kept vendors busy. With less time to innovate themselves, more and more vendors are opting to embark on innovative integrations to further a more lights-out process. For example, Credit Plus’ credit reports are now available through Ellie Mae’s point-of-sale solution, Encompass Consumer Connect, an extension of their Encompass LOS. The integration allows Encompass Consumer Connect users to verify and share their credit reports with lenders.

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Encompass Consumer Connect enables lenders to provide a state-of-the-art, completely branded and unique self-service online loan origination experience to homebuyers.

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“We’re excited to be at the forefront of this initiative and one of the first Ellie Mae partners included in this consumer-friendly interface. Encompass Consumer Connect will make the mortgage process easier to navigate for borrowers,” said Greg Holmes, National Director of Sales and Marketing at Credit Plus.

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Credit Plus provides insight to mortgage professionals so they can make smart lending decisions. Headquartered in Salisbury, Md., the company is a third-party verifications specialist offering more than 160 products and services for mortgage professionals, including credit reports, scoring tools, Deposit and Asset Verifications, Employment Verifications, Tax Return Verifications, fraud prevention tools, Undisclosed Debt Verifications, flood reports, appraisals, Lost Sales Analysis and more.

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United Wholesale Mortgage Introduces ‘BLINK’ Mortgage Portal

United Wholesale Mortgage (UWM) has released BLINK, a new all-digital loan portal that modernizes the way mortgage brokers work with consumers and strengthens their ability to compete against mega retail lenders in the market. BLINK – which stands for “borrower link” – is a consumer-facing web application that enables borrowers to combine the simplicity and flexibility of mobile technology with applying for a home loan.

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“Technology and consumer-driven tools are building momentum within the mortgage industry,” said Mat Ishbia, President and CEO of United Wholesale Mortgage. “With BLINK, new home buyers or existing homeowners will be able to initiate the loan process from any mobile device, in the comfort of their home, on their own time. We’re proud to make this great tool available to brokers throughout America, as we believe that brokers are best place for all borrowers to get a loan. It is a focus of ours to give brokers access to the best technology tools to compete with the mega retail lenders.”

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BLINK is a multi-functional portal that allows consumers and brokers to take an applications no matter where they are. Borrowers are given the capability to start the loan application process, pull their credit, e-sign documents, verify assets, and track the status of their loans – from anywhere.

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The technology caters to each consumer’s individual preferences. Borrowers can complete the mortgage process entirely on their own if they choose, or seek assistance from their mortgage broker at any time. Allowing the capability to co-browse screens with their clients in real-time to guide them through the process. Additionally, if a borrower wants to meet in person, they can still meet in person and complete the application online together.

“UWM made it very easy for me to realize the value this tool can bring to my business,” said Jason Davis of Oceans Mortgage. “Offering a smart mortgage application shows UWM’s dedication to advancing technology within the mortgage industry.”

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Mortgage Cadence Expands Digital Footprint With New Borrower Center

Mortgage Cadence, an Accenture company, launched the third generation of its Borrower Center, expanding the borrower self-service capabilities and enhancing the origination workflow of its Enterprise Lender Center platform. Here’s the scoop on this new technology:

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The Borrower Center is a cornerstone of Mortgage Cadence’s cloud-based technology, providing a highly secure, always-on-and-available-everywhere capability to help guide borrowers and lenders through the mortgage origination cycle. The new release, which builds upon the company’s proprietary technology that elevated the online mortgage lending experience more than 15 years ago, provides a superior experience for borrowers and a more-efficient, cost-effective process for lenders. Features of the third-generation Borrower Center include:

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Borrower Mobility. Borrowers will now enjoy a streamlined user interface that scales across devices, enabling convenient anywhere, anytime access. During application, borrowers create a secure account to which they return throughout the origination cycle to virtually collaborate and check the progress of their loan, upload documents, view conditions, and communicate with their lender.

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Single System of Record. A single, web-based technology platform – a Mortgage Cadence hallmark – that provides complete mortgage origination capabilities, whereas most other vendors use a cumbersome, multi-system integration approach. Borrower Center opens a gateway for borrowers and lenders to interact easily throughout the mortgage origination process. For lenders, our single technology platform means solid data integrity and security, enhanced features to help ensure compliance, a highly automated workflow, and an immersive borrower experience unmatched in the industry.

Flexible Administration. Easy-to-use admin tools provide full control over page names, content, titles, fields, and button names, with the option to preview updates prior to site publishing. The Borrower Center provides the flexibility that enables the lender to collect only the information needed to provide a great customer experience.

Powerful Branding. Borrower Center offers lenders the most powerful styling and branding opportunities available, making it easy for lenders to match the experience provided by their corporate website. Borrower Center’s design tools make it simple for lenders to adjust design and flow instantly, in real-time, as market conditions and borrower preferences evolve.

“Mortgage Cadence continues to lead the way in borrower-facing technologies — a road we started down almost two decades ago,” said Trevor Gauthier, Mortgage Cadence’s president and chief operating officer. “It’s exciting to release this next-generation borrower portal with the sole purpose of advancing our digital suite of technologies to ensure that our customers stay at the forefront of the lending industry.

“Staying ahead of industry and technology trends hinges on a thorough understanding of borrowers’ future needs. Last year we partnered with Accenture Research to conduct a study of more than 1,500 borrowers’ current and future expectations related to the origination process. Using data collected from the study, we have been driving development efforts around Borrower Center for Enterprise Lending Center and applying that knowledge to our entire product suite roadmap. Supporting our lenders is our number one goal, and we are excited to roll-out this forward-looking product.”

Michael Detwiler, Mortgage Cadence’s chief executive officer and a senior managing director at Accenture, said, “Since the acquisition of Mortgage Cadence in 2013, Accenture has invested heavily in the Mortgage Cadence suite of products, with a major focus on digital technologies inclusive of Borrower Center. Our view on where we want to take mortgage lending draws from the kind of disruption Uber has brought to the transportation industry — attacking the major friction points and fully digitizing processes to increase the speed and efficiency of lending services. Our new release of Borrower Center is the culmination of three years’ worth of investment and incredibly skilled employees bringing our vision to life, laying the groundwork for where we plan to take our digital lending experience to enable our customers to leapfrog the competition.”

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Redefining Online Mortgage Experiences

The mortgage industry continues to be faced with constantly changing rules and regulations, rate fluctuations, CFPB enforcements, election fall out and rapidly changing borrower expectations. More specifically, today’s borrowers expect a simple yet dynamic online lending experience. This put intense pressure on the over 7,000 mortgage lenders and millions of real estate agents trying to meet these new demands.

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Due to these changing demands and expectations from borrowers, there is a significant need for lenders to redefine what on online mortgage and real estate experience should be. Seventy-seven million millennials make up about one-fourth of the US population. Millennials in the US wield about $1.3 trillion in annual buying power, 85% of them are using smartphones as their daily technology device, and 49% are seeking to buy their first home. Millennials are becoming a significant force in the mortgage industry.

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Millennials demand mobile responsive lending sites and web applications that have a responsive layout from their potential lender. This digital revolution has led to about 90% of consumers beginning their search for home mortgages using digital technology and online lending tools. The online application process has proven to create a better consumer experience through automation, convenience, and efficiency.

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Borrowers are looking for simplified versions of everything: text rather than calling, or shopping online rather than going to the store. The mortgage industry is no exception to this habit.

With online lending, the industry is making a digital transformation by taking the borrower into a world of digitized processing at all stages of the loan lifecycle. At the end of the day one thing that is consistent is that more and more borrowers are looking for the digital mortgage experience. With innovation and digitization, borrowers look to complete the 1003 application digitally in less than 10 minutes with greater speed and accuracy.

This type of Innovation doesn’t only improve the consumer experience, it also has major bottom-line benefits to Mortgage companies. The digital experience increases the amount of money flowing into mortgage companies.

Today’s digital experience must provide borrowers with a compliant, aesthetically appealing, and user-friendly web solution that includes key program integrations. With the right solution borrowers immediately gain access to a network of Realtors and Mortgage professionals that can offer a swift online purchasing process. The key aspects that make this experience possible are:

>> Integrations with mortgage critical third-party programs and well documented application program interface (API), which allows for a variety of software components to interact effortlessly. This enviably simplifies and accelerates the borrower process and user experience.

>> A digital graphical prequalification application and 1003 application that streamlines mortgage processes including both the point of sale stage and loan origination.

>> A content management system that accomplishes compliance from the corporate level down. The system is controlled from one centralized location to eliminate reputational risk and any violations of compliance standards.

>> Lead generation and referral partner relationship building tools with the ability to provide affinity websites for mortgage partners such as accountants, charitable organizations, large employer, Realtor sites, and more. These websites have mortgage sponsored banner ads and/or applications in place.

>> State-of-the-art technology that considerably reduces the application abandonment rate by catering to the borrowers needs and overall experience.

>> A customer portal, which allows the loan officers to keep all parties, associated with the loan process up to date with the status of the application. Parties included on this are the borrower, title company, co-borrower, and realtor.

Over 75,000 individuals in the mortgage industry are benefiting from this innovative technology solution that delivers a user-friendly, compliant, secure, effective solution that enhances the digital mortgage experience.

WebMax’s digital experience expedites the borrowing process, helps maintain compliance, delivers dynamic online lending tools, and provides a highly innovative borrower experience. If you are attending the MBA Technology Conference in Chicago contact us to schedule a time to meet at 856-702-6400 or visit our website at www.webmaxco.com.

About The Author

Curt Tegeler
Curt Tegeler is responsible for providing direction for action to all employees and business initiatives. Tegeler’s main responsibilities include communicating and implementing the company’s vision and mission; leading, guiding, directing, and evaluating the work of executive leaders; formulating and implementing the strategic plan; forming, staffing, guiding, leading and managing WebMax; evaluating organizational success; and represents WebMax in civic and professional activities.
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Lender Looks To Drive A Better Consumer Experience

Ohio-based mortgage banker, Concord Mortgage Group, a division of NOIC, Inc., in partnership with Blend, a Silicon Valley-based technology firm, has released the Ready App, offering borrowers an elegant online portal to submit their applications, documents, and follow-ups in a secure, compliant manner. Borrowers of all ages applaud Ready App, giving it an average customer satisfaction rating of 9.1 out of 10.

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“Our capability allows us to speed up the loan process and reduce borrowers’ anxiety by providing transparency and a smooth process to quickly achieve their dreams of owning a home,” says Philson Lescott, NOIC, Inc. COO and chief digital officer. Lescott is a former business-technology executive of Fannie Mae. “We are focused on enhancing the mortgage experience for our customers by utilizing the most talented people and the best technology in our business.”

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Ready App is designed to take the friction out of applying for a mortgage by delivering a delightful and transparent experience, on any device, through simple conversational prompts and seamless direct connection to over 10,000 high-fidelity asset, payroll, and tax data sources.

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“At Blend, we’re building technology that reinvents home lending from the ground up,” said Nima Ghamsari, CEO & co-founder of Blend. “Built on a platform that integrates with existing systems, we’re thrilled to work with pioneering mortgage providers like Concord to deliver a digital mortgage experience and enable fast, simple and satisfying lending experiences to both lenders and borrowers alike.”

Ready App was launched as a pilot in October 2016, with a full company deployment in December 2016.  Feedback from customers and loan officers has been overwhelmingly positive: “Very easy. Questions were simple. Able to automatically import financial data” and “It was self-explanatory and hassle-free.”

Concord Mortgage Group’s core values and culture are relentlessly focused on helping people realize their dreams of homeownership, and with Ready App, Concord is well positioned to deliver a superior digital mortgage experience guaranteed to satisfy its borrowers’ needs.

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Making It Easier For Lenders To Go Direct To The Consumer

To help lenders create direct-to-consumer online lending programs, LendingQB has integrated its loan origination platform with Huntington Beach, Calif.-based BeSmartee, an online mortgage automation company. The integration provides an automated system for lenders to build a consumer direct lending channel that enables borrowers to move from loan application to underwriting in about 20 minutes.

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LendingQB, a provider of lean lending loan origination technology solutions, built the integration to help lenders of all sizes to compete nationally for borrowers looking for an easy and convenient online mortgage shopping process. The partnership continues LendingQB’s strategy of providing integrations with key technology partners that help lenders build new and innovative services for their borrowers.

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“Building a direct-to-consumer lending platform requires tremendous coordination between the point-of-sale application and the loan origination system,” said Tim Nguyen, Co-Founder and CEO of BeSmartee. “Our integration with LendingQB ensures that data is secure and that the lender can move as quickly as the borrower desires on their mortgage transaction.”

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For example, Atlanta-based Mortgage Assurance, Inc. leveraged the integration to broaden its offerings in the consumer direct space. Since the BeSmartee implementation, Mortgage Assurance, Inc. has found the integration to reduce loan origination costs, create efficiencies through verifications and easily pair with LendingQB’s underwriting and pricing engine while providing a user-friendly customer interface that encourages interaction between the lender and customer.

“Our customers enjoy the convenience of the consumer direct channel,” said Josh Rosendahl, IT Manager for Mortgage Assurance, Inc. “For us, having the BeSmartee solution seamlessly integrate with LendingQB’s LOS gives us total confidence in the self-service origination process. As the duo works to secure proper verifications and determine the proper course of action, my staff is able to monitor the process without having to dedicate large amounts of time to manually verifying and approving each step. For us, this saves time and resources.”

LendingQB’s lean lending loan origination platform provides mortgage lenders with a holistic model for optimizing business performance. The core LendingQB LOS is a fully web browser-based system that manages the entire mortgage lending process intuitively and efficiently. BeSmartee gives lenders the capability to provide borrowers a unique user experience with the capability of completing a mortgage transaction online using any mobile or desktop device.

“As a customizable LOS, we seek to find best-of-breed partners to integrate with on behalf of our customers,” said David Colwell, Strategic Business Development at LendingQB. “The BeSmartee integration exemplifies what it means to provide the best platform in order to make a better lending experience for our customers.”

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