Mortgage brokers reduce delays while using less staff time to collect and process borrower loan documents, Floify.com announces today.
Floify.com announced that its new cloud service is available today. Floify.com efficiently manages mortgage documentation and the loan document workflows of loan officers, loan coordinators, loan processors, and borrowers.
Frequently Asked Questions about Floify.com:
- What is it? Floify.com is a secure cloud service that lets lenders manage the process of collecting loan documents from borrowers.
- Who uses it? Summit National Bank. Brian Elkin, Executive Vice President of Summit National Bank, says, “Floify.com reduces the amount of time our staff works on loan paperwork and removes the guesswork about the status of loan docs.”
- Does it replace any existing software? No. It supplements loan origination systems with unique cloud capabilities. It is accessed online through a web browser with no software installed.
- Is it secure? All information and files are uploaded, downloaded, stored, and processed using secure encryption. All communications are transmitted over SSL (HTTPS).
- Is it better than email to collect borrower documents? Email is not secure, especially when transmitting sensitive personal and financial information. Nonetheless, the majority of lenders that collect loan documents over the Internet do so using email.
- Is it better than organizing borrower documents in folders on the desktop? It provides a checklist of what documents have been received and reviewed by the lender. Documents that haven’t been received or reviewed are highlighted to all lender staff and the borrower, which encourages all parties to meet their deadlines.
- Is it faster than current lender procedures for collecting and processing all documents in a timely manner? It uses friendly reminders to encourage all parties in each loan document workflow to meet deadlines and complete their tasks.
- Does it show managers a dashboard status overview of all current loans? On a single page, managers can see the status of all loans that are currently being worked by their loan officers, including information on deadlines and how complete each loan workflow is.
- How do lenders get started with Floify? Go to Floify.com, create a free account, and start a test loan.