The Modern Borrower: Looking for Loans Like They Shop Online

When a borrower begins the process of shopping for a loan, whether it’s for a real estate investment or a mortgage, they want to search the Internet for a good loan. They aren’t always ready to talk to a person yet.

We search for plane tickets, electronics, and cars online every day, and we expect to see prices displayed, with fully disclosed taxes, licenses, and fees. Loan origination software allows lenders to provide the same transparency to borrowers, streamlining their experience from the start.

We do this using automation and without the need to talk to humans.

However, the mortgage process is significantly more complex than purchasing a plane ticket, requiring multiple steps, compliance measures, and document verification. This is where mortgage loan automation bridges the gap, offering a seamless process without compromising the necessary human oversight.

With the advent of modern mortgage automation technology, lenders and mortgage loan originators have the capacity to create a similar experience for their clients.

Phone Calls Still Have Their Place

That being said, it’s important for lenders and borrowers to speak on the phone near the beginning of the loan origination process and possibly again mid-process. A phone call is important to establish trust and rapport as well as for answering questions or addressing unusual situations.

The Key

Here’s the key: those phone conversations should occur at well-defined points in the loan origination system. Automated loan processing ensures that routine tasks don’t require constant manual oversight, allowing loan officers to focus on essential interactions.

There’s no need for multiple phone calls and emails to be sent at seemingly random times throughout the loan origination process.

Instead, loan origination automation can trigger timely, personalized updates that keep borrowers informed at every step. Whether it’s an automated email confirming document submission or an SMS reminder about a loan milestone, these small touches enhance the borrower experience while freeing up valuable time for loan officers.

The Most Important Phone Call

The most important phone call occurs after the borrower has found attractive financing options on your website or through your mobile app. At that point, a well-designed automation process schedules a phone call between the borrower and a skilled mortgage loan originator so the loan officer can take the borrower’s application and apply their industry experience to recommend the best loan option for the borrower.

Having a skilled mortgage loan originator take the loan application, versus having a borrower fill out a complex online application, can and does make a significant difference in the overall experience for the borrower and the efficiency of processing as well as the probability of closing the loan.

A Well-Defined Process is Optimal for Mortgage Loan Automation

A lender with a well-defined workflow is primed for loan automation. This gives the borrower confidence that their loan is on track for an uneventful, predictable closing.

A lender with an automated loan processing system enjoys significant competitive advantages:

Predictable Revenue Per Loan

If a lender can bring in a certain number of inbound sales leads every month, the lender who uses an automated loan processing system has the advantage of being able to predict the revenue of those leads and the mortgage loan automation process will yield over the course of the loan origination cycle.

With loan origination automation, lenders can track where each borrower is in the pipeline, analyze bottlenecks, and adjust strategies in real time. This data-driven approach allows lenders to refine their operations for maximum efficiency.

Lower Operational Costs

An automated loan origination system reduces the need for highly specialized staff. Automation guides employees through processes, allowing lenders to scale efficiently while keeping payroll costs in check.

Smoother Collaboration

Real estate agents, loan brokers, appraisers, insurance companies, and title professionals all benefit from an automated loan underwriting system that keeps transactions moving forward without unnecessary delays.

Additionally, mortgage loan servicing software ensures lenders can manage ongoing payments, escrow, and compliance efficiently. By integrating servicing into the automation process, lenders can maintain customer satisfaction and reduce administrative overhead long after a loan closes.

Mortgage Borrower Satisfaction

An efficient, predictable, automated mortgage process—with human oversight at key points—makes borrowers happy because their loan is obtained with less stress.

Due to the predictable nature of the process, borrowers are able to fit other plans around their closing date, knowing the chances are significantly increased for a smooth and on-time closing.

Additionally, loan automation reduces the back-and-forth communication often associated with traditional mortgage applications. Borrowers receive automated reminders about missing documents, estimated closing timelines, and next steps—all without having to chase down their loan officer.

Real Estate Agent Satisfaction

Finally, the people who generate your leads for you will be very satisfied with the transparency and insight that your loan automation provides them.

They know that mutual clients are getting appropriate service and that loans are moving forward on schedule.

It gives them predictable revenue. After all, Realtors® and agents won’t get paid until you’ve finished your work.

Moreover, mortgage loan automation allows agents to track loan progress in real-time, eliminating the guesswork and frustration that often accompany manual processing. A transparent system leads to stronger lender-agent relationships and increased referrals.

Why Floify is the Smart Choice for Mortgage Loan Automation

At Floify, we know that automated loan processing isn’t just about efficiency—it’s about creating a better experience for borrowers, lenders, and everyone in between. Our loan origination system is designed to simplify every step, from application intake to underwriting and final approval, keeping everything organized and moving forward.

With loan automation, you can work smarter—not harder. Our intuitive tools take care of time-consuming tasks so you can focus on what really matters: closing loans and growing your business.

Let’s Automate Your Loan Process

If you’re ready to eliminate bottlenecks, increase efficiency, and provide a seamless experience for borrowers and agents, Floify is the mortgage loan origination software solution you need. Let’s talk about how our cutting-edge loan origination software can take your business to the next level!

Check out Floify and see how our tools can transform your loan officer compensation plans today!