New! Get More Insight at Application with Custom Questions

1003 loan application custom interview questions digital web-based

You may have noticed a theme in our product releases, since early-May.

We have invested a tremendous amount of engineering effort and brainpower into Floify’s interview-style 1003 loan application to make it the best in the mortgage industry, and we are committed to maintaining that position by continuously upgrading the functionality and design.

Our newest addition continues the trend by adding a truly unique component to the mix which will set the stage for even greater things to come.

With 1003 custom questions, you can gather more data points about your client or their financial situation upfront, better preparing you to serve their individual needs throughout the origination process.

And, if you’re asking a Yes/No question, we have also built-in conditional follow-up that allows you to ask a second question based on the response.

To make this process as seamless as possible for you and your client, you will have the choice of which section on the 1003 you’d like to add each custom question to and it will appear after all other required 1003 fields have been completed.

Once the prospect has completed the section, they will see their response to your custom questions in the section review to ensure accurate input.

Since we can’t add those custom questions to the FNMA 3.2 data file, we create a PDF in your Prospects area for viewing or download.

Future releases will let you combine custom questions with the power of Floify’s business rules so that you can use the new data points you gather to further refine automated document gathering processes.

Want to set up your custom questions? Learn how in the Floify knowledge center.

AccountChek™ Integrated with 1003 Loan Application 2.0

Customers who enjoyed our classic loan application’s ability to directly integrate FormFree’s AccountChek™ asset verification solution can now rejoice!

Floify’s interview-style “Apply Now 2.0” 1003 loan application has been upgraded to support this valuable technology.

Not familiar with AccountChek™ by FormFree? Their service provides a direct-source digital connection to borrower’s financial institutions. Once your client provides their online banking credentials to the secure login, AccountChek™ pulls their data from the source and formulates it into a report that has been vetted and accepted by the GSEs.

No more frustration over the missing last page of bank statements, or threat of mortgage fraud.

Now you can completely streamline the collection of digital bank statements by integrating the power of a Day 1 Certainty-approved vendor directly into your loan application process.

To learn how to leverage the AccountChek™ integration with your loan application, visit the Floify knowledge center.

New Features For Enterprise Lenders

Integrate with Fannie Mae’s Desktop Underwriter

Floify’s partnership with Fannie Mae has opened the doors to the creation of an integration with their popular automated underwriting system, Desktop Underwriter (DU).

When this connection is enabled, lenders can generate automatic pre-qualification letters for their prospect applications if appropriate DU findings are returned. Similar to our pre-approval letter generator, this automation leverages a lender’s branded pre-qualification letter template.

Generating pre-qualification letters is just the tip of the iceberg.

With the DU integration, lenders can also manually order DU findings and will have access to a detailed history of the findings for the particular loan, including each time an automated underwriting assessment was ordered.

To read more about the DU integration process, visit the Floify knowledge center.

Disclosure Desk Auto-send

Floify’s Disclosure Desk already upgrades any lending operations’ compliance workflow by centralizing and providing transparency for the sending and receipt of the Loan Estimate and Closing Disclosure in a single web-based location.

The addition of disclosure auto-send kicks the efficiency gains up yet another notch.

When using auto-send, Floify intelligently makes several checks against existing templates to ensure a match, examines the template roles and compares them to those that are relevant for the loan, and removes any role that is not considered relevant.

This automation removes several manual steps from the disclosure workflow, meaning lenders can more efficiently get these important documents into the hands of borrowers for review and eSignature.

To read more on Disclosure Desk’s new auto-send functionality, visit the Floify knowledge center.