How Mortgage Lenders Use Technology to Provide Convenience/Service to Customers

10/11/2018

By: Stacy Borho

AVP, Mortgage Lender

NMLS# 689948

 

Todd Weir, mortgage lender
Todd Weir, mortgage lender

Being at the forefront of technology in the financial services industry doesn’t mean adopting every new digital application, however impressive it may be.  At INB, it means researching and implementing what’s best for our customers, so we can make banking truly easier for you.

With INB’s leadership in financial technology, it’s no surprise our mortgage department is at the helm of today’s digital mortgage practices. Throughout the entire mortgage process for our clients, INB employs tech tools and digital resources for a streamlined customer experience.

One such service offers INB mortgage customers a digital application platform. What does this mean exactly? Simply put: ease and convenience during what can often be a stressful process. INB customers can apply for a mortgage loan online and keep each part of that transaction updated and open for viewing.

“It’s web-based, not software-based, so you can access it from anywhere you have Internet,” said Aaron Sapp, VP and head of residential mortgage for INB, NMLS# 447059. “It’s so robust but easy to use; it’s the application platform of a large bank with the local feel our customers want.”

Under the system, each lender has his or her own mortgage application link. If you want to work with a specific lender, your application will be sent directly to that loan officer by using his or her unique link.


You are Cordially Invited

Lenders may also invite other service providers into select areas of the system, whether it’s a realtor who needs to see the loan status or an accountant who wants to provide financial forms on behalf of a client.

“If we have a client who is purchasing her first home and wants to include her parents in her transaction, she can invite them in. If she needs her CPA involved to submit some of her financial information, she can invite that professional in as well,” said Justin Gensler, VP, mortgage lending for INB Champaign, NMLS# 611367. 

Because of this, each person involved in the transaction can get the information they need and communicate with each other, without having to wonder where the process has left off. Strong connection and communication help the loan process move along seamlessly. Any issues are recognized more quickly than in the past as well.


Behind the Scenes Technology

We also have state-of-the-art technology working behind the scenes to ensure the mortgage loan process stays on track. Our operations software gives us efficiency and consistency within each of our loans. It allows our mortgage team to view a dashboard for each transaction and customer, with the ultimate goal of identifying any potential issues before they impact the customer. 

Within the software, our processors and underwriters can monitor each step of the transaction and ensure updates are being made – diffusing problems and continually enabling process improvements so that our transactions are timely and efficient.

“These valuable technological tools gives our mortgage customers time to spend on other parts of life, as well as peace of mind and less stress,” Aaron said. “Utilizing technology has allowed us to streamline our processes so that we can focus on the strong relationship we have with each client.”

All Posts