Digital mortgages solutions guide lenders through the whole process of getting money and make them comfortable on the way. These are a special breed of FinTech products. They require impeccable design, in-app copy, and functionalities that are useful but not intrusive. It doesn’t get more personal than that. What digital mortgage apps are out there? Here’s the quick overview and the list.
What features does the digital mortgages platform need?
First of all, a product like that requires a certified e-signature to work. That means safe and efficient identification confirmation and personal data storage. Facilitation of the electronic document signing process is obviously a must. But it’s not all.
Another step, or should we even say the first one, is the ability to generate and receive a digital application from a borrower. This type of document should hold information about income, gender, age, number of family members in the household, etc. Since many apps utilize the cloud these days, a question of cloud security is always an important one. The product must be secured, period.
Another important thing is the ability to process the application from A to Z, without the support of any other, third-party solution. Everything must be handled in-app for convenience and security reasons.
Lastly, there’s an integration with loan origination system (LOS) or implementation of native origination functionality. This is for handling the process. From loan origination, through fulfillment, pricing, checking of eligibility to document signing and management.
Digital mortgages are about trust
That’s why it’s important to make potential customers comfortable and engaged. You want them to feel cozy like they already live in the house of their dreams. According to PwC, 85% of consumers want to trust businesses with their personal information but they don’t feel safe enough. By making data and customer connection a priority, you can increase your chances of success.
Create a disclaimer. Explain to your audience how this digital mortgage solution treats their data and what are they needed for. Not all mortgage platforms do that, losing prospects as a consequence.
According to McKinsey & Company, a properly designed and implemented digital mortgage origination journey can reduce costs per loan by 10%. It can also shorten the loan processing time by 15% to 40%, and reduce the underwriting touches per application by 15% to 40%. All by betting on customer support like chatbots, video calls, e-notes, interactive calculators, and more.
People won’t use this kind of software if they don’t find value. The relatively cheap cost of the loan is not everything. Best digital mortgage platforms deal with people, not numbers. If you can’t find the best loan software on the list, contact us. Let’s build something unique.
1
AtClose
250+ Employees
Cranbury, United States
Est. 1995
AtClose is the next generation of digital mortgage, title and escrow solutions which enables faster closings and data driven insights for better communication and shorter cycle time for both mortgage lending and title industries.
AtClose for Lenders:
Drive operational efficiencies across banks, financial service providers, and mortgage institutions with future ready; new generation, of digital mortgage solutions by AtClose.
AtClose for Title & Settlement Companies:
Streamline workflow for your title and settlement business by harnessing the power of AtClose; future-ready, end-to-end title and settlement production software.
DocuSign helps organizations connect and automate how they prepare, sign, act on and manage agreements. As part of the DocuSign Agreement Cloud, DocuSign offers eSignature, the world’s #1 way to sign electronically on practically any device, from almost anywhere, at any time.
Today, over a million customers and more than a billion users in over 180 countries use the DocuSign Agreement Cloud to accelerate the process of doing business and simplify people’s lives.
eOriginal was acquired by Wolters Kluwer Governance, Risk & Compliance in December 2020.
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2020 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.
Black Knight is the industry’s leading provider of technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight offers a premier, end-to-end platform of integrated technology, data and analytics supporting the entire mortgage and home equity loan lifecycle – from origination to servicing to default. Black Knight solutions drive business process automation, workflow, rules and integrated data throughout the loan process, providing a better user experience, cost savings and support for changing regulatory requirements. By integrating lending functions and data, Black Knight helps lenders and servicers reduce risk, improve efficiency and drive financial performance.
Black Knight is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, visit www.blackknightinc.com.
Please book a meeting so we can learn more about your needs and find the right approach.
6
Experian Mortgage
250+ Employees
Costa Mesa, United States
Est. 1980
Experian unlocks the power of data to create opportunities for consumers, businesses and society.
During life’s big moments – from buying a home or car, to sending a child to college, to growing a business exponentially by connecting it with new customers – we empower consumers and our clients to manage data with confidence so they can maximize every opportunity.
We gather, analyse and process data in ways others can’t. We help individuals take financial control and access financial services, businesses make smarter decision and thrive, lenders lend more responsibly, and organizations prevent identity fraud and crime.
ICE Mortgage Technology, a division of Intercontinental Exchange, Inc. (NYSE: ICE), is the leading cloud-based loan origination platform provider for the mortgage industry. ICE Mortgage Technology solutions enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality, and efficiency.
Snapdocs is a digital closing platform that connects lenders and settlement so each can efficiently manage their closings and offer a referral-worthy experience for their shared customer, the borrower. Powering over 2,000,000 closings a year, Snapdocs is the only solution with a proven track record of creating a single, scalable process for every closing–whether wet, hybrid, or fully eClose.
The Cloudvirga Enterprise POS includes all the features of the Mobile POS and includes an environment for LOs that helps them structure the deal and service their customers. The Enterprise POS also includes directed workflows, calculates risk, and checks compliance to create underwriter-ready loans.
Our suite of digital solutions is designed to advance the mortgage process at every stage, continuously improving the experience for lenders, settlement service providers, investors and borrowers.
Please book a meeting so we can learn more about your needs and find the right approach.
11
eClosePlus
50-249 Employees
San Antonio, United States
Building on over 44 years’ experience in the mortgage and title industries, eClosePlus intuitive design streamlines and simplifies the closing process and offers a complete and secure electronic eclosing solution. Formulated with flexibility in mind, eClosePlus offers a unique option to meet the individualized needs of lenders, referral partners, settlement agents, and borrowers. Powered by proprietary automated intelligence, this technology enables the eSigning of ANY document from ANY provider with NO interface required and provides a comprehensive eClose solution, including eSigning, SMART Note, eVault, eNotarization and Remote Online Notarization. More information can be found at www.eClosePlus.com.
Solex eClosing is a digital workflow that can be integrated with your loan origination system (LOS). Now you can optimize your loan closing process and improve the experience for your borrower.
MortgageHippo is a fintech company offering a comprehensive suite of web and mobile-ready products white-labeled for mortgage lenders. Our digital platform allows lenders to deliver an intuitive, smooth and efficient borrower experience, improve borrower conversions, significantly reduce origination costs and integrate with other innovative technologies, while maintaining their own brand’s look and feel. MortgageHippo’s platform is fully customizable to lender preferences and configurable to lenders’ workflows and processes.
Oper is a launch pad for digital credit products.
We help credit providers to launch digital credit products in a matter of days. By using our out-of-the-box modules, credit providers can simply configure their process and start selling.
Further, our customers can integrate best-of-breed Fintech technologies into their process by selecting functionalities from our Fintech partner app store.
Please book a meeting so we can learn more about your needs and find the right approach.
16
StreamLoan
10-49 Employees
San Francisco, United States
Est. 2015
StreamLoan is a B2B SaaS solution that is reinventing the residential real estate purchase and financing process. StreamLoan makes the journey to home ownership as rewarding as the destination, by reducing friction in the residential home purchase and lending process.
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