Sep, 21
2023
Business, Free News Articles, Software

Affinity Plus Federal Credit Union Selects LenderLogix’s QuickQual to Improve Transparency and Responsiveness During Mortgage Borrowers’ Home Search

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced that Minnesota-based Affinity Plus Federal Credit Union (Affinity Plus) has selected its pre-approval letter generation tool QuickQual to provide borrowers with a white-labeled, digitally-driven entry point into their homebuying experience.

"Each member engaging in the mortgage process is different, and we thought our technology should reflect that experience," said Tara Rutz, Mortgage Servicing and Origination Manager, Affinity Plus Federal Credit Union. "QuickQual enables us to deliver a highly engaging experience for our members, including generating pre-approval letters quickly and efficiently. Additionally, the interactive tool will allow members to preview real-time costs (down payment, monthly payments, cash to close, etc...) of purchasing their next home and adjust accordingly to the properties they are viewing within the parameters set forth in the pre-approval."

With QuickQual, loan officers set parameters within the system based on the borrower's maximum pre-approved loan amount. From there, borrowers and their real estate agents can generate pre-approval letters on demand and run payment scenarios based on those parameters, thus providing borrowers with a deeper understanding of their capacity to purchase on a house-by-house basis.

"Affinity Plus is a perfect example of the difference thoughtful tech investment can make in helping credit unions compete effectively in today's market," said LenderLogix Co-Founder and CEO Patrick O'Brien. "This is exactly what we intended when designing our suite of products - to improve lenders' operations by addressing the gaps in their existing tech stack and provide a stellar user experience for their customers."

About LenderLogix:

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money.

For more information, visit https://www.lenderlogix.com/.

RELATED LINKS:

https://lenderlogix.com/quickqual-demo

Related link: https://www.lenderlogix.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Sep, 06
2023
Business, Free News Articles, Software

LenderLogix integrates LiteSpeed mortgage point of sale system with Encompass by ICE Mortgage Technology

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced the completion of the integration between LiteSpeed, a streamlined point-of-sale (POS) system designed for mortgage lenders and Encompass® by ICE Mortgage Technology, part of ICE (NYSE: ICE) and a global data, technology and market infrastructure company that designs, builds and operates digital networks to connect people to opportunity. Through the integration, leads flow directly from LiteSpeed to Encompass, providing loan officers with the combined power and accessibility of their web-based LOS while on the go.

"Though digital point-of-sale and origination technologies have become table stakes in today's mortgage market, LiteSpeed combined with Encompass and ICE's extensive suite of open APIs provides lenders a distinct competitive advantage," said Scott Falbo, Chief Technology Officer and Co-Founder at LenderLogix. "Through its powerful cloud-based ecosystem, Encompass works hand-in-hand with LiteSpeed, delivering easy access for loan officers to manage new and existing leads whether in the office or on the go. By leveraging the web-based workflow structure they're already familiar with, loan officers can quickly and efficiently deliver incredible experiences to their borrowers."

LiteSpeed was strategically and intentionally designed to provide borrowers with a simple yet powerful user experience. The white-labeled platform guides borrowers through singular, auto-advancing application questions using animated iconography and dynamic messaging. Once the application is complete, borrowers then receive confirmation emails with next steps, a secure document upload link and more from their selected loan originator.

Encompass provides loan officers with the ability to access their web-based LOS from anywhere, enabling them to maximize productivity across their entire workflow. This integration between LiteSpeed and Encompass leverages the latest Encompass Developer Connect API(TM) Platform, ensuring a seamless flow of data, while also delivering a frictionless and highly automated process for borrowers.

"With thousands of lenders adopting the Encompass loan origination platform, LenderLogix has invested extensively in its integrations with the Encompass solution suite," said Patrick O'Brien, CEO and Co-Founder of LenderLogix. "By combining LiteSpeed's easy to use digital point-of-sale technology with the pipeline and lead management tools within Encompass, this integration provides loan officers with even more functionality to serve their borrowers whenever and wherever they're needed."

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

About ICE Mortgage Technology

ICE Mortgage Technology® is part of ICE (NYSE: ICE), a global data, technology and market infrastructure company that designs, builds and operates digital networks to connect people to opportunity. Backed by ICE's global resources, we offer a truly differentiated digital platform that provides straight-through processing for a more comprehensive end-to-end workflow than any other provider in the market. We reach almost every mortgage in the U.S. by combining the native automation of Encompass® with the e-collaboration and e-recording capabilities of Simplifile®, along with the national electronic registry for nearly 90% of the U.S. mortgage market in MERS®. Ultimately, our technology enables people across the industry to focus on personal connections when they need it most, and support borrowers for a better journey of homeownership. Visit icemortgagetechnology.com to learn more. ICE Mortgage Technology combines technology, data and expertise to help automate the mortgage process, from consumer engagement through loan registration, and every step and task in between. ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the mortgage industry, with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring high levels of compliance, quality and efficiency.

Visit https://www.icemortgagetechnology.com/ or call (877) 355-4362 to learn more.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)."

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.

RELATED LINKS:

https://www.icemortgagetechnology.com/products/encompass-for-loan-officers

Related link: https://www.lenderlogix.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Sep, 01
2023
Awards and Honors, Business, Free News Articles

LenderLogix’s Derrick Enderby recognized by HousingWire Magazine in its 2023 HW Insiders award program

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced Director of Customer Success Derrick Enderby has been chosen by HousingWire as a 2023 Insiders Award winner. Through its Insiders award program, HousingWire seeks to recognize individuals who serve their companies in outstanding ways through operations, product development and other ways that make their company successful.

"Derrick's pursuit of excellence has had a tremendous impact on both our customers and LenderLogix's success, so it is no surprise that HousingWire has recognized his efforts," said LenderLogix Co-Founder and CEO Patrick O'Brien. "Not only has Derrick created best practices and systems for our entire customer success department to ensure our clients receive the highest levels of service, but his dedication to helping our users get the most out of our technology is undeniable."

Under Enderby's guidance, the average loan officer using QuickQual has experienced a 27% increase in the number of pre-approvals issued on the platform. He also created an internal customer relationship management system to highlight opportunities to educate clients on ways to expand their use of their existing LenderLogix product. In addition, Enderby authored an internal Customer Success Playbook to outline specific touchpoints that LenderLogix Customer Success Specialists utilize to remain engaged and invested in clients' businesses.

"We publish the HousingWire Insiders award with the goal of shining a spotlight on the intrapreneurs and operational leaders who work ambitiously to support the success of their organizations," HousingWire Editor in Chief Sarah Wheeler said. "Since its launch eight years ago, we have been able to recognize the accomplishments of hundreds of Insiders whose dedication and expertise have resulted in enormous contributions to the housing landscape. Accomplishments which can often be behind-the-scenes but garner massive results."

The complete list of HousingWire Insiders Award winners can be found at www.housingwire.com

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

About HousingWire

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches more than 70,000 newsletter subscribers daily and 1 million unique visitors each month and has more than 5,000 members and event attendees. Visit www.housingwire.com or www.solutions.housingwire.com to learn more.

Related link: https://www.lenderlogix.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Aug, 02
2023
Alliances and Partnerships, Business, Free News Articles, Software

Northwest Bank Collects Fees within Minutes with LenderLogix FeeChaser

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced Northwest Bank has selected its payment processing platform Fee Chaser to ensure compliant collection of upfront fees and deliver borrowers a five-star digital experience.

Fee Chaser integrates with Northwest Bank's loan origination system (LOS) to send a unique link to the borrower within one click. On average, borrowers make a payment within five minutes of receiving the link. Once paid, all parties receive a receipt, and the LOS is automatically updated.

"As a service-oriented bank, we're constantly seeking ways to enhance the value we provide to our customers. Fee Chaser has taken our borrower experience to the next level by helping us extend the five-star service we deliver to our mortgage customers beyond the initial point of contact," said Rocco Diina, Northwest Bank Senior VP and Head of Mortgage Sales. "Thanks to the support from the LenderLogix team, we were able to go live within a matter of weeks."

"Our partnership with Northwest Bank is an example of our commitment to empowering lenders with cutting-edge technology to enhance their operations," said Patrick O'Brien, Co-Founder and CEO of LenderLogix. "It's our firm belief that borrower experience is the key differentiator for lenders. The lenders investing in their tech now in a down market will be the same lenders at the top when the market reverses course."

About LenderLogix
LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

RELATED LINKS:
https://www.lenderlogix.com/fee-chaser

Related link: https://www.lenderlogix.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 26
2023
Business, Free News Articles, Real Estate, Reports and Studies

LenderLogix Q2 2023 Homebuyer Intelligence Report Data Shows Slight Increase in Homebuying Activity Despite Affordability and Inventory Challenges

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the second quarter (Q2) of 2023.

Pre-Approvals

In Q2 2023, borrowers generated 58,927 pre-approval letters through LenderLogix's QuickQual pre-approval platform, an increase of nearly 11% over Q1. While the average number of borrower logins to QuickQual declined from 12 times in Q1 to 8 times in Q2, loan officers increased their number of pre-approved borrowers by 16% over the period to 28, up from 24 in Q2.

The average pre-approval letter loan amount in Q2 increased by 4% to $302,836 compared to Q1's average loan amount of $292,491. Additionally, the average sales price increased 5% from $334,022 in Q1 to $348,348 in Q2, resulting in an average down payment of roughly 13% versus 12.4% in Q1.

Conventional loans were again the most popular loan type for pre-approved borrowers, with its share remaining virtually unchanged at 71% versus 72% in Q1. Similarly, FHA pre-approval share remained steady at 22% versus 21% in Q1, as did VA (5%) and USDA share (1%).

"Increases in both pre-approval letters generated and average number of pre-approved borrowers per loan officer signal slight improvements in the homebuying market, which is an excellent sign for lenders struggling under recent market conditions," said LenderLogix Co-Founder and CEO Patrick O'Brien. "However, the rise in average sales price, loan amount and down payment indicate that it's only getting more expensive for borrowers to buy so lenders will need to equip themselves with the tools and resources necessary to make homebuying more affordable."

Borrower Conversion

Of the borrowers using QuickQual in Q2 2023, the average number of days between pre-approval and loan submission increased to 89.3 days, compared to 71 days in Q1. The most prolonged duration between pre-approval and application also increased from 622 days in Q1 to 994 days in Q2. The increased length between pre-approval and loan submission did not dissuade borrowers, as conversions from borrowers using QuickQual rose from 56% in Q1 to 58% in Q2, with those borrowers generating an average of 9 pre-approval letters before converting.

"Lack of inventory is certainly one of the main drivers behind the increase in time between when borrowers get pre-approved and when they submit a loan application, which only compounds the challenges facing today's buyers," O'Brien noted. "However, for the loan officers that remain diligent in their outreach to prospects and agents, that effort seemingly pays off. Thus, loan officers should adjust their expectations around the length of today's home search and increase communication during this time to optimize their conversion rate."

Data from the Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

Related link: https://www.lenderlogix.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jun, 28
2023
Business, Free News Articles, Software

Premium Mortgage Corporation taps LenderLogix’s LiteSpeed to power Digital-First Mortgage Borrowing Experience

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced that Rochester, N.Y.-based Premium Mortgage Corporation (Premium Mortgage) is the latest mortgage lender to implement its streamlined point-of-sale (POS) platform LiteSpeed to provide borrowers with a white-labeled, digitally-driven mortgage application experience.

"As one of the top Independent Mortgage Banks in New York State, our borrower relationships are tremendously important to us. We strive to deliver the most seamless and borrower-centric service we can, and LenderLogix's technology plays a significant role in our ability to do that," said David Gates, Chief Operating Officer at Premium Mortgage. "LiteSpeed gives our borrowers a powerful, yet simplified digital entry point into our mortgage application process, which helps us differentiate ourselves in the current market and deliver a superior experience at a fraction of the cost."

Thanks to its integration with Encompass(r) by Ice Mortgage Technology, LiteSpeed streamlines Premium Mortgage's loan application process by guiding borrowers through singular, auto-advancing application questions using animated iconography and dynamic messaging. Once the application is complete, the system immediately presents borrowers with a customized needs list, a secure document upload link and more from their selected loan originator, thus ensuring that all the necessary documentation and information is collected up-front to support a smoother, more streamlined underwriting process.

In addition to LiteSpeed, Premium Mortgage also leverages LenderLogix's QuickQual and Fee Chaser tools in its front-end tech stack. With QuickQual, borrowers and their real estate agents can generate pre-approval letters on demand and run payment scenarios based on their pre-approved loan amount as determined by their loan officer. After completing their application via LiteSpeed, borrowers can quickly and easily pay all up-front costs, such as appraisal fee, through the secure Fee Chaser portal. The combination of these systems, which also integrate with Encompass, with LiteSpeed extends the digital environment Premium Mortgage already delivers to create a seamless experience from first point of contact through application and the early stages of the underwriting process.

"Premium Mortgage is a prime example of what an independent mortgage bank can achieve by taking a more thoughtful and strategic approach to tech investment," said LenderLogix Founder and CEO Patrick O'Brien. "LenderLogix is proud to play a part in Premium Mortgage's continued success by providing tech tools like LiteSpeed that address specific mortgage origination challenges that have gone unaddressed by other larger technology offerings."

About LenderLogix:

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

RELATED LINKS:

https://www.lenderlogix.com/litespeed-point-of-sale

https://www.lenderlogix.com/quickqual-demo

https://www.lenderlogix.com/fee-chaser

Related link: https://www.lenderlogix.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jun, 07
2023
Business, Free News Articles, Reports and Studies

LenderLogix Announces Quarterly Homebuyer Intelligence Report

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage automation software and application programming interfaces (APIs), today introduced the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The inaugural report covers data collected during the pre-approval and borrower application process during the first quarter (Q1) of 2023.

Pre-Approvals

In Q1 2023, borrowers generated 53,281 pre-approval letters through LenderLogix's QuickQual pre-approval platform. On average, borrowers logged into QuickQual roughly 12 times during the quarter to generate pre-approval letters, run payment scenarios or view closing cost summaries. Loan officers pre-approved an average of 24 borrowers during this same period. The average pre-approval letter generated in Q1 was for a loan amount of $292,491, and the average sales price was $334,022, resulting in an average down payment of roughly 12.4%. Conventional loans were the most popular loan type for which borrowers were pre-approved at 72%, followed by FHA (21%), VA (5%) and USDA (1%).

"Given the lack of housing inventory, borrowers and their real estate agents must have a complete picture of the borrower's financing options to ensure they can make a highly competitive offer as quickly as possible," said LenderLogix Co-Founder and CEO Patrick O'Brien. "Lenders need to truly understand the pressures and constraints their borrowers are working under and provide options that empower borrowers to match the speed of today's housing market."

Borrower Conversion

Of the borrowers using QuickQual in Q1 2023, the average number of days between pre-approval and loan submission was 71 days, with the longest being 622 days. 56% of borrowers using QuickQual converted from pre-approved status to loan applicant and generated an average of 9 pre-approval letters before converting.

"What these stats tell us is that the home search process is quite difficult for borrowers, even as competition has cooled slightly from the pandemic-driven frenzy," O'Brien noted. "For loan officers, this should serve as notice to be diligent in your outreach to support your prospects and their agents in what remains a challenging homebuying market and maximize your conversion rate."

Data from the Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit https://www.lenderlogix.com/.

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

Related link: https://www.lenderlogix.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

May, 05
2023
Business, Free News Articles, Software

LenderLogix enhances LiteSpeed point-of-sale platform to support communication with Spanish-speaking mortgage borrowers

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage automation software and application programming interfaces (APIs), today announced its streamlined point-of-sale (POS) LiteSpeed now offers a Spanish version of the residential loan application to support communication with Spanish-speaking borrowers in their native language.

The Urban Institute estimates that Hispanics will comprise 70% of all new homeowners by 2040. In addition, the 2022 State of Hispanic Homeownership Report from the National Association of Hispanic Real Estate Professionals (NAHREP) notes that 7.9 million Latinos aged 45 and under are mortgage-ready, with another 2.8 million who are near mortgage-ready, and that Latinos have the largest near mortgage-ready population of any racial or ethnic group. By having Spanish as a supported language option within LiteSpeed, lenders can better communicate with the Spanish-speaking subset of their limited English proficiency (LEP) borrowers to ensure they enter the homebuying process with greater confidence and a clearer understanding of the transaction.

"The data doesn't lie. Hispanic and Latino borrowers will represent a significant portion of homeownership growth over the next few decades, and lenders must prepare to serve the unique and varied needs of this demographic, including the ability to communicate in the borrower's native language when that language is something other than English," said LenderLogix Founder and CEO Patrick O'Brien. "As the second most common language spoken in the U.S. other than English, supporting Spanish within LiteSpeed just makes sense as a starting point. We foresee adding other language options to help our customers expand homeownership access to even more LEP borrowers."

With LiteSpeed, small to mid-sized lenders gain the POS functionality essential to competing effectively in today's digitally-driven mortgage market at a price point aligned with their organization's size and budgetary needs. Designed for rapid implementation and minimal internal support requirements, LiteSpeed provides borrowers a white-labeled, digitally native user experience that helps lenders gain more leads faster and increase application rates to drive conversion. As an ICE Mortgage Technology(tm) Gold Partner, LenderLogix has built a direct integration between LiteSpeed and Encompass(R) to ensure lenders can operate in a seamless environment from the first point of contact to maximize their loan origination system (LOS) investment.

About LenderLogix:

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

Related link: https://www.lenderlogix.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Apr, 27
2023
Business, Free News Articles, Software

Peak Residential Lending Builds Digital-First Mortgage Borrowing Experience Using LenderLogix Product Suite

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage automation software and application programming interfaces (APIs), today announced Peak Residential Lending has implemented its complete application suite - LiteSpeed, QuickQual and Fee Chaser - into its existing tech stack to power a digital-first borrower experience.

"As a relatively new company, we have been thoughtful and strategic about our tech decisions to ensure we're investing in tools and platforms that drive real operational value. Having used some of the more well-known POS systems previously, we were looking for a more flexible platform that would deliver the essential features and functionality we need to make an impactful first impression with borrowers at a price that was affordable," said Charly Bates, Branch Manager at Peak Residential. "Not only did LiteSpeed meet all our needs, but the entire LenderLogix product suite has enabled us to build a digital native lending operation starting from our initial borrower touchpoint, and its seamless integration with Encompass has enhanced the value we get out of our existing tech stack."

LiteSpeed powers Peak Residential's loan application process, delivering a simple but highly engaging borrower experience integrated with Encompass(r) while giving lenders peace of mind that they're collecting everything needed to hit the ground running. For instance, LiteSpeed automatically curates a list of needed documents for the borrower to collect and upload. From there, QuickQual allows the borrower and real estate agent to run payment and closing cost scenarios based on parameters set by the loan officer (LO) and generate pre-approval letters instantly. Once the borrower moves from application to the underwriting phase, Fee Chaser extends the value derived from LiteSpeed and QuickQual through the seamless collection of up-front costs, such as appraisal fees.

"Peak Residential is a prime example of the speed and ease with which lenders can implement our tools. Thanks to their eagerness and engagement from the start, we had them up and running on all three platforms in less than two weeks, resulting in one of our fastest implementations to date," said LenderLogix Founder and CEO Patrick O'Brien. "We intentionally designed our applications for rapid implementation so lenders can deliver highly personalized and powerful borrower experiences within weeks of making the buy decision. That way, our customers and their borrowers can begin realizing the transparency and efficiency benefits our applications deliver throughout the homebuying process as quickly as possible."

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

Related link: https://www.lenderlogix.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 21
2023
Business, Free News Articles, Software

The Mortgage Firm selects LiteSpeed from LenderLogix as its POS Platform

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage automation software and application programming interfaces (APIs), today announced The Mortgage Firm, a Florida-based independent retail mortgage lender with branches located throughout the U.S., has selected its streamlined point-of-sale (POS) platform LiteSpeed to power its application process and deliver a superior borrower experience at the initial point of contact.

"As a growth-minded organization, The Mortgage Firm is deeply committed to curating a best-in-class tech stack that empowers our loan officers to focus on the borrower experience and provides a distinct competitive advantage in today's market," said The Mortgage Firm President Todd Pierson. "Having partnered with LenderLogix for more than three years, we've seen the tremendous impact QuickQual and Fee Chaser have had on our operations, so the decision to add LiteSpeed to the mix was an easy one. The ability to implement the system within days versus months, LenderLogix's ongoing, live customer support and it's seamless integration with Encompass(r) only reinforces our decision."

Leveraging LiteSpeed and QuickQual at the front end of its origination process ensures an easy transition for The Mortgage Firm's borrowers from application to approval letter. Once the borrowers move from application to the underwriting phase, Fee Chaser extends the value derived from LiteSpeed and QuickQual through the seamless collection of up-front costs, such as appraisal fees, within the same operating environment. As a result, The Mortgage Firm can deliver a consistent, modern, streamlined experience from the first point of contact through application to complement the high-touch service its loan officers provide.

"The competitive forces working against independent mortgage lenders are as strong as ever. For a lender like The Mortgage Firm that is continuing to grow in a down market, borrower experience must be the key differentiator from both a new business and a recruitment standpoint," said LenderLogix Founder and CEO Patrick O'Brien. "The term 'best-in-class' gets thrown around quite a bit, but this concept sits at the core of both LenderLogix and The Mortgage Firm. Our shared goal of delivering superior technology and customer service has made this partnership especially fruitful, and we are honored that The Mortgage Firm has doubled down on this relationship entrusting LiteSpeed to serve as the gateway to its borrower relationships."

About LenderLogix:

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

Related link: https://www.lenderlogix.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

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