WGS Delivers New POS/Digital Experience

Wipro Gallagher Solutions (WGS), a Wipro Limited company and a provider of loan origination software solutions, has released the latest update of NetOxygen Launchpad, a state-of-the-art consumer point-of-sale (POS) portal delivering true digital experience and enhanced consumer engagement, across channels, throughout the loan cycle, including the post loan submission process.

Featured Sponsors:


Wipro Gallagher Solutions’ NetOxygen Launchpad 3.0 experience helps lenders transform the consumer application by offering easy access to loan documents, disclosures, key loan contacts, and interactive to-do lists from any device (PC, laptop, tablet, or smartphone). With its responsive and adaptive design, NetOxygen Launchpad seamlessly adjusts to the end user’s device.

Featured Sponsors:


NetOxygen Launchpad is one of the first consumer POS platforms to focus on customer engagement during the post loan submission process. It is during this time period where consumers typically have many follow-up questions and expect timely responses. NetOxygen Launchpad’s borrower dashboard offers consumers the ultimate borrower transparency and flexibility through customizable widgets displaying loan information in real time.

Featured Sponsors:


NetOxygen Launchpad automatically and dynamically routes all queries through an online real-time chat support system. Consumers also have the ability to upload supporting documents to resolve outstanding stipulations. While bankers/loan officers, and other key support staff, are available via e-mail or phone, Artificial Intelligence-driven chatbots and live agent co-browsing provide additional automated and tailored assistance.

Featured Sponsors:


With automatic pre-population of more than 70% of consumer data (from various data aggregators and sources), the NetOxygen Launchpad experience makes filling out an application form, a very easy and time-saving task for the consumer. The experience seamlessly integrates with credit, asset verification, income verification, identity verification, and other key data sources and offers consumers product options that best fit their needs.

NetOxygen Launchpad seamlessly integrates a “guided help” feature that provides real-time, step-by-step guidance to users to help them perform a variety of tasks from start to finish. This feature helps users feel empowered and in control during the post loan submission process. NetOxygen Launchpad is enabled with OCR (optical character recognition) and ADR (automated document recognition) technologies, that helps in minimizing user errors.

NetOxygen Launchpad offers a true multi-channel digital experience to lenders, whether originating first mortgages, HELOCs or a variety of other loan types, including auto, boat, and personal loans. The platform also offers a dedicated loan officer view, enabling loan officers to manage their loan pipelines, review applications, and send registration links directly to borrowers.

“The NetOxygen Launchpad experience ensures that the consumer engagement does not end after the loan application is submitted. The typical time for application processing can be anywhere from 4 to 14 minutes, but the post-submission experience can be 10-30 days or more,” said Alok Bansal, Vice President and Head, Wipro Gallagher Solutions, Wipro Limited. “Through NetOxygen Launchpad, consumers are engaged during the entire loan origination process and are provided with the necessary resources at their fingertips, wherever they are.”

Partnership Further Automates The Point-Of-Sale Using AI

Using AI and rules engine, PerfectLO assists borrowers in completion of the loan application and then builds a smart checklist for them.  Secondary and tertiary level questions that do not live on a 1003 are presented to borrowers through a unique, unintimidating approach.  LendingPad LOS will then import completed applications automatically so that MLO’s and processors swiftly use the information to complete the loan process through closing. 

Featured Sponsors:


Both systems are cloud-based which allows loan officers to easily work remotely.  Both products are built by former mortgage executives who understand where the pain and slowdowns happen on the front and back end of the loan process.  “We both understand technology and built this integration together to allow our mutual clients to focus on mortgages and give them the ability to spend more time selling and the technology to close loans faster,” said Derek Malila, President of PerfectLO.

Featured Sponsors:


“LendingPad is proud to be at the forefront of lending technologies by working with powerful platforms like PerfectLO to enhance the loan origination process,” said LendingPad’s Managing Director, Wes Yuan. “Our mutual customers will enjoy LendingPad’s award-winning cloud-based LOS to streamline lending operations and PerfectLO’s comprehensive suite of Point-of-Sale tools for borrowers and originators.”

Featured Sponsors:


PerfectLO built the first and only interactive questionnaire that assumes nothing and fact finds every detail known to loan kind.  It provides a detailed document checklist to the borrower based on their answers, text/email milestone notifications to clients and agents, and an easy to read document for the LO with all of the borrower’s answers.  A Document Center for securely downloading and uploading documents between the Borrower and LO is also included.  PerfectLO works in every language and queues up the questions in the borrowers preferred language. 

Featured Sponsors:


Residential mortgage professionals created LendingPad’s innovative LOS to help lenders make better lending decisions, provide exceptional user experience, and enhance individual originators’ ability to succeed.  Leveraging a highly-scalable cloud infrastructure, LendingPad offers end-to-end loan origination features that streamline the origination process while lowering the total cost of mortgage lending.  LendingPad is endorsed by the National Association of Mortgage Brokers.

Collaboration Enables Lenders To Fully Automate

Maxwell, a digital mortgage point-of-sale cloud software, is now integrated with and available through Encompass by Ellie Mae. The seamless bi-directional integration allows lenders to connect Maxwell’s solution directly with Encompass to drive quality and efficiency in the loan origination process.  

Featured Sponsors:


“Lending teams spend a lot of time jumping between different platforms to move a loan from application to clear-to-close,” explained Lindsay Hunt, head of product at Maxwell. “Maxwell has always prioritized the human element in our software–it’s what we stand for. We built our integration with Ellie Mae’s Digital Mortgage Solution to solve this and design a best-in-class experience that seamlessly links both platforms for the user.”

Featured Sponsors:


The integration between Encompass and Maxwell enables lenders to send loan applications, synchronize borrower documents and trigger status notifications to borrowers and real estate agents without ever leaving Maxwell. Furthering Maxwell’s commitment to a relationship-driven mortgage experience, this allows the loan officer to spend more time providing valuable counsel to the borrower and strengthening their network rather than wasting time on lower-value administrative tasks.

Featured Sponsors:


“Data integrity is the foundation for the digital transformation we are witnessing today in the mortgage industry,” said Maxwell CEO and Co-Founder John Paasonen. “In order to seamlessly connect the dots, Ellie Mae and Maxwell collaborated to unite Ellie Mae’s system-of-record with Maxwell’s breakthrough point-of-sale platform, allowing our mutual customers to deliver a leading experience to their borrowers and team members alike. We are excited for a long, successful collaboration with Ellie Mae.”

Featured Sponsors:


Maxwell empowers mortgage lenders to be more connected, productive, and successful by intelligently automating their workflow with homebuyers and real estate agents. The platform is used by hundreds of mortgage lenders, banks, and credit unions nationwide to serve their homebuyers and real estate agent partners every day. Founded in 2015, Maxwell is a member of the Mortgage Bankers Association and a preferred partner of The Mortgage Collaborative. 

Consumer Direct Solution Slashes Origination Costs

OpenClose has scheduled a May release for the official rollout of its much anticipated digital mortgage point-of-sale (POS) solution, ConsumerAssist Digital POS. This new integrated solution is a unique offering that combines a proven and mature 100 percent browser-based end-to-end LOS and PPE with new state-of-the-art dynamic digital mortgage POS technology.  

Featured Sponsors:


As a single source vendor for digital POS, LOS, PPE and Business Intelligence, OpenClose is able to slash the loan manufacturing cost and complexity by eliminating the need to cobble together disparate systems with different SLAs, contracts and pricing models.

Featured Sponsors:


The self-service POS capabilities that ConsumerAssist Digital POS provides are state-of-the-art and feature rich. Lenders can now automate and organize numerous tasks that would normally be performed in the back-office via the LOS, and push them closer to borrowers earlier in the origination process. As a result, workflow efficiencies increase, the lending process is sped up, costs are reduced and new business is captured at a higher rate and lower cost.

Featured Sponsors:


“We feel that lenders leveraging the efficiencies of a single consolidated platform will be able to most effectively sustain and increase profitability in an environment with more competition for fewer loans and tighter margins,” says JP Kelly, president of OpenClose. 

Featured Sponsors:


Jason Regalbuto, CEO / CTO of OpenClose, adds: “Borrowers today and in the future are expecting streamlined experiences with extreme ease of use and automation like Amazon and Uber offer. Mortgage origination and lending involve very complex processes. We think with ConsumerAssist Digital POS, we have significantly reimagined these processes and workflows for the future and the expectations that borrowers have. We’ve effectively closed the loop between POS and LOS.”

Key feature & benefits of OpenClose’s new digital POS and LOS platform:

·       Consumer-facing website can be customized to reflect the lender’s own branding

·       Elegant, intuitive screens and wizards swiftly walks borrowers through the entire application process

·       Instant Verification of Employment (VOE)

·       Instant Verification of Income (VOI)

·       Instant Verification of Assets (VOA)

·       Instant Verification of Tax Returns

·       Automated loan conditioning

·       Secure document capture and tracking

·       Real-time messaging between borrower, loan officer and other relevant parties

·       Activities calendar monitors when tasks are due and auto-sends email reminders and/or text notifications

·       Affinity portal connects realtor, builder and settlement partners to the manufacturing process

·       Ability to access the system on any mobile device or tablet

OpenClose is incorporating into ConsumerAssist Digital POS their DecisionAssist product and pricing engine, automated underwriting capability, fee calculation engine and more.

OpenClose also offers ConsumerAssist Web which helps establish a consumer direct lending channel by developing websites that engage borrowers with tools to perform much of the application and loan qualification process themselves without involving a salesperson. ConsumerAssist Web can be combined with ConsumerAssist Digital POS, together dubbed ConsumerAssist™ Enterprise, to offer comprehensive self-service technology that manages the bulk of the origination process for lenders.  

OpenClose recently announced the availability of a robust RESTful API Suite that the company developed to enable quick system-to-system integrations, seamless data exchange and execution of transactions. In addition to making integrations easier to complete, it further lowers lender costs, which is a key focus of OpenClose as their customers operate in a margin compressed business climate.

Millennial Homebuyers Meet Digital Mortgages

Millennials are all about being quick and efficient; They don’t waste time filling out handwritten paperwork or writing letters anymore. This is mainly due to the fact that they’re more accustomed with the digital era than, say, the Baby Boomer generation. The same idea goes for buying a house; they won’t want to waste time putting pen to paper on a 1003 application, driving to and from a mortgage office and their bank hunting down documents. 

Featured Sponsors:


According to the National Association of Realtors, Millennials make up thirty-six percent of today’s homebuyers to be exact. More specifically, sixty-five percent of these buyers were first-time homebuyers. This number will only continue to grow as more move on from rental properties. Due to the increasing number of Millennials who are buying homes today, it is critical for lenders in the mortgage industry to direct a large amount of efforts towards their demographic. As the number of millennial homebuyers grow, lenders need to be taking the necessary precautions to keep them satisfied throughout the home buying process.

Featured Sponsors:


With that being said, paper 1003 applications are fading into the background as homebuyers want something that’s almost instantaneous. Digital point-of-sale (POS) applications seem to be growing in popularity amongst homebuyers and lenders combined. Not only do they reduce operating and origination costs, but they require much less work. 

Featured Sponsors:


With convenient loan portals on lenders’ websites, homebuyers are able to successfully submit important documents and communicate directly with their loan officers. This takes away the back and forth between the buyer and the bank. POS applications are also sometimes set up to only provide the borrower with questions that apply to them, allowing abandonment rates to significantly decrease, with lenders closing more loans. Thus, keeping lenders and homebuyers happy. 

In addition, POS applications and mortgage websites will have to be mobile responsive because not all Millennials bother with having a desktop computer anymore. According to Statista, approximately 2.53 billion people have smartphones today. Some of these individuals feel that there is no point to own a computer when their smartphone has all of the same capabilities. They also want to be able to electronically sign documents online without making a wasted trip to the bank. In addition, it is imperative to have an automated verification system for things like assets, employment, and income, to make this process even easier.  This is a big part of digital mortgages, as the consumers don’t want to do more than they have to.  Therefore, a homebuyer must be able to apply for a mortgage whether they’re on the go or sitting right at home. 

All in all, it’s important to remember that there’s going to be a point where Millennials and Generation X members, whose lives have revolved around electronics, engulf the entire mortgage industry. The time is now to start making the necessary changes in order to keep potential homebuyers pleased, before the system becomes too outdated. The world is changing all around us, and lenders are going to have to make every effort to keep up. Digital mortgages are what Millenials are really waiting for–quick, efficient solutions. 

About The Author

The Drawbacks Of Developing Your Own Digital Mortgage Solution In-House

In today’s thriving mortgage industry, lenders are jumping at the chance to implement digital point-of-sale applications (POS). While some lenders have made the decision to develop their own application and website in-house, other lenders have taken the initiative and devoted this job to experts in the software development space to handle. In doing so, lenders assure that they create a digital mortgage platform that both benefits their borrowers and reduces operating costs.

Building a digital mortgage solution from the ground up is not as easy as it may sound. It is 2018 and technology has grown rapidly over the last ten years or so, becoming more complex and involved. As it continues to change, we will be faced with new and more in-depth challenges that we have to be readily equipped to tackle. There is nothing truly straightforward when it comes to today’s technology and quite frankly, lenders don’t have the time to develop their own advanced solution in-house. They need to be devoted entirely to the borrower, rather than grasping at straws attempting to develop their own digital mortgage solution.

Featured Sponsors:


Part of having a fully developed digital mortgage solution includes a POS system. Thanks to digital POS applications, lenders can now validate a borrower’s employment, assets, and income all within a matter of seconds, which is how the mortgage approval process has been sped up.

POS systems enable lenders to give their borrowers an all new, digitally enhanced, and fully automated mortgage application that cuts operating and closing costs while saving time and energy. For example, a borrower and their loan officer can communicate back and forth through their loan portal, uploading documents, pay stubs, etc. without leaving the comfort of their living room. Due to the digital era, the borrower no longer has to go back and forth between their bank and their loan officer in order to get approved and close a deal. Whether they are on the go or sitting stationary at home, home buyers can easily apply for a loan online and get approved in a remarkable amount of time. What used to be more than a month long, ongoing process can now be done in significantly less time.

Award-winning digital mortgage solution providers are devoted full-time to developing these solutions which make them extremely difficult to replicate. Their developers are there to build, establish, and execute lenders’ websites, however their duties don’t end there. Digital mortgage solution providers are readily available to train clients on how to navigate their corporate site, branch sites, and loan officer sites as well as edit them themselves to incorporate features they may want such as adding or deleting a specific loan officer. Not only will they help you to become an expert on your own website, but they will also be there for any dilemmas that pop up. If a company is trying to build their own solutions in house, odds are that they are learning as they go; They work for a mortgage company, not a digital mortgage solution company. Therefore, they are not trained and are not as experienced as the developers who are doing this all day, every day.

Featured Sponsors:

In addition, it is by no means cheaper for a lender to develop their own digital mortgage solutions in-house. The average salary for a typical senior developer is upwards of $100,000 which is approximately the amount, if not more, what they’d be paying a digital mortgage solution company. Keep in mind that you’d be expected to pay more based on their experience, as well. That is not including any other factors, such as hosting fees, server administration or what a they’d be paying for additional developers, project managers, etc. The bottom line is that development costs add up quickly.

Potential home buyers need a simpler, faster way to get a mortgage. In order to do so, there needs to be a development team solely devoted to providing the finest products on the market. Between the most up to date digital POS applications and custom website solutions, there is no need for lenders to waste time building their own digital platform.

POS applications need to revolve around efficiency. Let’s face it: not all questions on a typical 1003 application applies to every borrower. Therefore, individuals are answering questions that have nothing to do with them and doesn’t affect their loan. For example, leading applications in the industry have the ability to only provide the borrower with questions that apply to them. If a user states that they are married, another drop down box will automatically appear regarding number of dependents, and then their ages. Some borrowers feel overwhelmed with these mass amounts of questions, which is why providing them with only the questions that applies to them really matters.

Many providers run analytics on their POS application on a monthly basis. Where the industry typically has a 75% abandonment rate amongst digital POS applications, very few have as low as a 12% abandonment rate. With this being said, more borrowers are enticed to complete the application due to its overall smooth-sailing efficiency.   They can also analyze borrower behavior to see where users run into trouble in hopes of optimizing the product, allowing mortgage professionals to close more loans. This takes experience to accomplish, however. In order to complete features such as these in digital solutions it takes a full team of developers who know what they’re doing. Ultimately, a lender could be paying close to a half million when it comes to in-house development. They would need equipment, a well established team, plus the costs of managing and maintaining the solutions.

Featured Sponsors:

In addition to in-house developed POS systems, one of the worst things you could possibly do is utilize the same website layout that every other mortgage professional is using. Not only does this make your website appear to be boring and unappealing to the borrower, but in-house developed websites also have a slew of other concerning issues that could affect your business as well as the individuals involved.

First and foremost, some sites that businesses are using to build their platform have security issues that could potentially put the borrower’s personal information at risk of a hacker. Some of them do not even limit login attempts, meaning that even if a hacker unsuccessfully breaches your login, your system can overload as a result. Your account can also then be suspended due to these failed login attempts. The PHP code that runs a website can also be easily exploited, which would give unwarranted access to the website. You must also keep an eye out for SQL injections where hackers try to insert data into your database in hopes of linking your site to malicious or spam websites. It’s best to avoid these horrendous problems that unfortunately do occur, and utilize a custom mortgage website where developers are trained to handle situations like these.

One of the biggest advantages of choosing a digital mortgage company rather than developing in house is being able to have a site admin manage websites for the whole team. This ensures that they are always compliant.

Aside from the extensive security problems that lenders can experience from an in-house website, they also must remember that added features like plugins, extensions, and add-ons will cost extra. As you can imagine, the price can add up in order to get the full website you really want. However, these extra fees can be avoided all together by utilizing a custom mortgage website that includes all of these services. All in all, this would be the right way to go if you want to ensure that homebuyers are going to choose you. Digital mortgage companies take their systems very seriously which is why more and more lenders are choosing them every day.

Many digital mortgage solution companies are centered around creating a lead capture friendly mortgage site with a comprehensive CMS (Content Management System), a prequalification application, member portal, LOS bi-directional sync, mobile responsiveness, and a wide variety of other features. These features help to further ensure the safety and privacy of homebuyers’ personal information. Loan officers and brokers even have the ability to use this system in order to obtain more leads online. In that way, these custom sites are always built with home buyers’ and the mortgage company’s best interests in mind. It is simply more efficient to pay a one-time fee and get exact what you want rather than finding your own developer and having to pay them more than what you’d be paying to out-source.

Remember, professionals who do this for a living will be able to do things that you’ve never even thought of, in a lot less time. Being a lending expert is one thing, but being a lending technology expert is a whole other circumstance. The main focus of a mortgage company should be on potential homebuyers, and not on their website. There are skillfully trained developers who put all of their time and energy into applications from start to finish which is why they will be more successful than any in-house development.

It’s understandable why building a solution in-house may seem like the best choice at first, but it’s important to review everything at hand before making the final decision. In the end, working with a digital mortgage company to get the full works may ultimately be the best option.

About The Author

The Digital POS Movement

The digital mortgage revolution resulted in a mad rush to mortgage websites and online 1003 applications. But lenders struggled to turn their new website visitors into borrowers. That’s where a digital POS factors in: A POS makes buying a mortgage like ordering a product off an ecommerce platform, at least the good ones do. With a digital POS application, mortgage companies can close more loans faster at a lower cost than traditional loan origination.

E-commerce volume increased nearly 12% y/o/y from 2016 to 2017. Expect for that same trend to follow people shopping for mortgages. According to a study by the National Association of Realtors, 44% of all homebuyers began their search online. 95% went online to gather information at some point, including 99% of Millennials and 77% of Silent Generationers. Digital home searching generated tangible results, spurring 76% of Millennials to drive by a home because they saw an online advertisement. Although the data indicates that digital is vital to capturing homebuyers of all ages, the data also demonstrates that capturing the Millennial buyer provides the most robust and lucrative opportunity for lenders.

Featured Sponsors:


Millennials make up about one-fourth of the US population, signifying a 77-million-person opportunity for the mortgage industry. According to Inc. Magazine, Millennials make up 66% of first-time homebuyers and 66% of them plan to buy a home in the next 5 years. As of 2017, Nielsen estimated that Millennials wield more than $1 trillion in annual buying power. The October 2017 composite forecast of Fannie Mae, Freddie Mac, and the Mortgage Bankers Association for 2017 mortgage origination volume reaches approximately $1.8 trillion. If Millennials compose 50% of this mortgage volume, and two-thirds of them apply online via digital applications, that represents $600 billion in digital mortgage origination. This number is massive. Better yet, it’s conservative.

Featured Sponsors:

Digital POS’s further impacts lenders by streamlining the loan origination process and mitigating the slowing effect of regulatory compliance. The loan origination process always stood as a long, arduous, drawn-out series of sending documents for verification, waiting to receive them back, and then reeling in borrowers to sign and approve each step of the process. Then came 2008. When the mortgage market collapsed, lawmakers dropped a bomb packed with regulations and compliance standards like Dodd-Frank, RESPA, TILA, and CFPB. According to the Mortgage Bankers Association, between 2010 and 2017, mortgages took 70% longer to close and origination costs skyrocketed 80% as the burden of regulatory compliance grew.

Featured Sponsors:

But technology is turning the tides. According to a November 2017 article in The Mortgage Reports, mortgage closures averaged 43 days, down from 51 days earlier in the year — a near 16% decrease with no help from decreased regulation. With today’s most advanced digital POS, lenders need not send documents to various verifiers and wait days on end to receive confirmation. Seamless data integrations and automations engineered into digital POS’s shave days off of loan origination timeframes. As integrations and automation speed up loan processes, it also cuts costs and leads to more closed loans.

About The Author

Happy Borrowers: Achieving Financial Success With Customer Satisfaction

To Download The Full Free Industry Paper PDF Click Here

Your borrowers matter. And in a changing market, they matter more than ever. In 2017, we’ve seen the shift from record-breaking volumes to slower growth. Now, stealing share, and therefore winning the hearts and minds of borrowers, is the key to success. Increasingly price and product flexibility matters less to borrowers than customer experience. Rates and closing costs are no longer the central drivers of satisfaction in the loan process.

Featured Sponsors:


But just how valuable is “borrower satisfaction?” Most mortgage executives we speak with see the big picture benefits of being borrower-centric: happy customers lead to more referrals and a better reputation, lowering costs of service and engaging employees in the workplace. But when you dig below the surface, you realize that few truly can quantify the economic return of a better borrower experience.

Featured Sponsors:

In this overview, Maxwell Financial Labs has pulled together research that highlights the central drivers of borrower satisfaction. And more importantly, Maxwell highlight change tactics and a structured methodology to quantify the business case for creating happy borrowers.

Featured Sponsors:


To Download The Full Free Industry Paper PDF Click Here

Vendor Launches Next-Generation POS

Promontory MortgagePath, a new entrant in the mortgage technology and fulfillment solutions spaces, announced that PromonTech, the company’s technology arm, has released the next-generation of point of sale solutions (POS)—the Borrower Wallet. It is designed to help mortgage bankers level the playing field with the customer experience/digital mortgage solutions being offered by mega lenders.

Featured Sponsors:


The Borrower Wallet is a white-label, omni-platform, POS that engages with customers using any computer or mobile device, on either a self-serve or assisted basis with a loan officer. The secure, borrower-friendly environment is designed to build confidence and make it easy for the borrower to enter information, approve automated data collection, upload/e-send documents and stay informed throughout the loan origination journey through loan closing.

One of the unique features of the Borrower Wallet is a dashboard that shows the borrower their key metrics—credit score, debt-to-income and loan-to-value ratios—that loan decision makers will use to approve their loans. The dashboard is continually updated as new data and documents are collected.

Featured Sponsors:

From a lender’s perspective, the Borrower Wallet captures leads and fosters borrower/lender collaboration to drive enterprise efficiency and improve loan pull-through. In addition, its built-in collaboration tools deliver high-quality data and documents needed to feed and accelerate the downstream underwriting process.

The Borrower Wallet promotes both applicant self-service and values the role the loan officer plays as a trusted advisor. Lenders can accommodate their applicants anytime/anywhere in a secure workspace. Loan officers can be a true co-pilot, within the Borrower Wallet, enhancing the application process and loan quality ahead of underwriting.

Featured Sponsors:

“Today, lenders are threatened by the disruptive force of technology, haunted by the lessons of the financial crisis and hamstrung by the plethora of regulations that grew out of the crisis,” said Bruce Witherell, chief executive officer of Promontory MortgagePath. “We’ve developed a collaborative, innovative approach to identifying and validating the applicant and their qualifying data. Borrowers can explore their mortgage options on either a self-serve or loan officer-assisted basis, using any personal device. For the first time, they can see their financial profiles, just as a loan decision-maker would. Lenders, regardless of size, can use our platform to level the playing field in an increasingly digital mortgage marketplace. As a company co-founded   by Gene Ludwig, compliance is an essential part of our DNA and is integrated into all aspects of our technology. So lenders can be assured that they are engaging with their applicants in a compliant manner.”

StreamLoan Integrates Mobile-First Digital Application With LOS

LendingQB (LQB), a provider of lean lending loan origination software in collaboration with San Francisco-based StreamLoan, the mobile-first Point-of-Sale (POS) platform, have come to market with a new solution to provide lenders with a fully automated digital system, creating a best-in-class lender, borrower, and real estate agent experience.

Featured Sponsors:


As a result of this integration, borrowers, loan officers, lender support teams, and real estate agents are empowered to start and manage a 1003 application and loan file, automate the collection of financial documents, share the financial needs list and underwriting conditions, review, approve, and push documents directly into LQB, and collaborate using chat in real-time across mobile and desktop platforms – driving speed, education, communication, and accuracy into the home purchase process.

There are many “mobile friendly” applications on the market, however they fall short in delivering the native mobile app experience customers expect and demand. StreamLoan offers native iOS and Android while delivering a responsive web to cover desktop, laptop, and tablet users.

Featured Sponsors:

This is a first-of-its-kind integration between an LOS and a POS. “Pronto by StreamLoan addresses the emotional friction created in the home buying process with a higher level of communication and transparency with our borrowers,” said Jason Madiedo, President and Chief Executive Officer of Alterra Home Loans. “Our loan officers & their teams can now service their clients with Pronto, while utilizing the full potential of LQB.  This integration allows us to get back to the human side of lending, which is what our industry has been waiting for.  It would have required us licensing products from several software vendors, integrating them, to even come close to what the StreamLoan platform delivers.”

“Lenders must deliver the best customer experience to compete.  Further, our customers can close more loans in less time with fewer resources,” said Stephen Bulfer, CEO and co-founder of StreamLoan.  “There is a reason the average cost of manufacturing a mortgage is almost $8800 today.  Through our partnership with LendingQB, lenders gain efficiencies in their lending processes, create consistent processes, and are equipped to grow their business,” Bulfer continued.

Featured Sponsors:

LQB’s 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. StreamLoan Mobile Office extends this capability to lenders, further expediting the origination process and allowing interaction with borrowers and other parties to the loan.

“Every lender faces a unique business challenge that can be addressed with the proper technology,” said Tim Nguyen, President at LendingQB. “With a configurable LOS like LendingQB, lenders can streamline their processes to create operational efficiency. By integrating our advanced technology directly with StreamLoan, loan officers are now equipped to process more applications in a consolidated manner, while also creating a more transparent experience for the borrower and the referring real estate agent.”