3 Key Factors Impacting Digital Loan Application Submission RatesWhy do some lenders thrive while others lag? What separates the best mortgage lenders from the also-rans and everyone else? Your borrowers are smarter and more informed than ever. They know what’s happening with interest rates. They know how to figure out their own credit scores. They can calculate payments online with …
The Current State of the End-to-End Digital MortgageNew technologies were gradually making the mortgage-lending process more efficient – then COVID-19 hit. Mortgage-origination volumes hit new heights, and mortgage loan originators faced a tough new reality of remote work in a field that still hadn’t fully digitized. Fortunately, a flurry of emergency activity from regulators resulted in many states allowing remote …
Floify’s Latest Release Delivers Powerful New Credit Reporting ToolsFloify’s recently released suite of new credit reporting and VOA functionality gives loan originators the advanced automation capabilities they need to create even more time-saving efficiencies (and less headaches) within their digital origination workflow.Automatically Map Liabilities to Loan ApplicationLOs that utilize Floify to order credit via one of the system’s integrated credit …
How Originators Can Measure and Improve Mortgage Pull-Through RateWhat is Mortgage Pull-Through Rate and How to Measure ItThe mortgage pull-through rate analytic provides a loan originator with a high-level view of the overall health of their mortgage process. It’s a foundational metric meant to generally assess workflow efficiency, the quality of submitted applications, the level of customer service being provided, …
Prioritizing Loan Profitability in a Mortgage Purchase Market The record high profits of 2020 are now well into the mortgage industry’s rear-view mirror. In fact, Mortgage Banker’s Association data from Q2 of 2021 demonstrated a steep decline in profit, dropping from $3,361 per loan in Q1 to just $2,023 per loan in Q2. This swift drop is attributed to several …
Is Your Online Mortgage Application Costing You Business?ICE Mortgage Technology’s most recent Borrower and Lender Insights Survey, the 2020 report, made clear that today’s homebuyers are using technology more than ever – and also want more digitalization of the mortgage borrowing experience. This attitude is reflected heavily in the survey’s data. For example, 64% of all consumers surveyed reported having …
Implement a Flexible Online Loan Application That Adapts to Your Process Not all origination workflows are built the same and the practical data needs for a loan originator to successfully run their business may be different from what is gathered on a typical 1003 loan application. Some loans and programs need additional information. Some LOs want more data about their …
Non-Traditional Strategies to Generate New Business in a Purchase MarketThe cyclical nature of the mortgage market provides opportunities for loan originators that are willing to adapt and be flexible with how they position their business. 2020’s epic refi boom is now squarely in the rear view mirror. In fact, Freddie Mac is predicting that refinance volume will crater this year …
Customize How and When You Receive Document Upload Notifications in FloifyThe Floify platform excels at keeping all loan stakeholders informed and accountable for their part in the mortgage origination process. For borrowers, the system delivers notifications and reminders that promote accountability by informing the borrower of any new or outstanding requirements. Loan originators and their teams are kept in-the-loop about …
Enhance Your Origination Process and Maximize ROI with Floify E-Sign Meet Floify’s Native Electronic Signature Solution Floify E-Sign is a powerful, mobile-optimized eSignature solution developed on the Floify platform that helps mortgage loan originators further streamline and digitize their workflow without the cost and management of an additional vendor. Purpose-built for the mortgage origination industry and designed to support its …