Three Key Components of a Powerful Online Origination Platform
Today’s homebuyers are seeking quicker and more efficient methods of securing a mortgage. Time is a precious commodity for modern families. And choosing between shopping for competitive interest rates online versus a time-consuming visit to a lender’s brick and mortar location is not a tough decision to make. Perhaps that’s why a recent report conducted by Fannie Mae revealed that 64% of respondents had conducted mortgage related business on a mobile device in the first quarter of 2016. This figure essentially doubled from the first quarter of 2015 at 27%.
The tide is shifting and if you don’t seize the opportunity to harness custom online mortgage origination tools for your website, you might just get lost at sea. In this blog, we will explore three key online mortgage origination tools so that you can provide your borrowers with what they want and need to simplify their already hectic lives.
Loan Pricing Engine
With the right loan-pricing engine, you can produce single-channel or multi-channel best execution loan pricing with the click of a button. Instead of having to look through rate sheets or comb through investor’s websites, you can simply enter your desired terms and have the best execution pricing within seconds. In addition, pricing engines can be seamlessly linked to your landing page or website allowing your current or potential borrowers to enter their terms and seek best execution pricing. Some loan-pricing engines may also be linked to additional online origination tools like lead management tools and Mortgage CRMs rounding out a truly powerful online origination platform (view a LoanTek example here).