Home Financing Software for Mortgage Lending and Financing
Mortgage lending represents the lion’s share of retail lending today. And this trend will likely stay consistent as long as mortgage interest rates remain low.
An ongoing challenge for home lending companies, as well as borrowers, is the volume and complexity of paperwork required to originate, close and service mortgage financing. And a variety of government initiatives designed to simplify the process, may actually complicate things even more when the new rules are put into practice.
The mortgage industry has evolved from an in-person industry to an online industry. In the past the majority of borrowers preferred to meet face-to-face with their lender. Today’s borrowers are content to shop, negotiate terms, and close their mortgage using an e-system. This shift has created a hyper-competitive marketplace where e-lenders leverage home financing software to automate many of the processes. They use sophisticated mortgage lending software to pre-approve borrowers and provide rate quotes in real time, which has made speed and competitive pricing the key to capturing a prospect as they research multiple lenders with a few key strokes.
Speed, Accuracy & Efficiency
You already know that speed and accuracy are critical when it comes to home financing. Regardless of whether you’re processing a new application, managing customer payments, or mining customer data for marketing opportunities like upsell and cross-sell products and add-ons.
Turnkey Lender provides an advanced mortgage financing software and account management system that delivers the level of automation and credit scoring that minimizes processing time without compromising security, pricing accuracy or risk tolerance.
Here are some of the key factors to consider when choosing a home financing software that delivers long-term benefits to your house financing or house lending operation.
It’s important to get your staff up-to-speed quickly to get the most from your new system. The Turnkey Lender platform provides an all-in-one loan origination and servicing system, so there’s no need for the IT department to integrate separate software into the existing origination platform. And our intuitive workflow acts like a built-in training tool.
IT support and customer service is available 24/7 to answer all your implementation and training questions getting you up-and-running fast.
Automation & Workflow
Turnkey Lender was created with the end-user in mind. It creates efficiencies by automating multiple mundane tasks, so your loan servicing managers can focus their best efforts on high level evaluation & decision tasks. Your business and your servicing managers are individuals. We start with a rules based foundation system with pre-sets based on lending industry best practices – that’s easily customized to meet individual needs.
Comprehensive Origination & Servicing Functionality
- Automated decision-making and borrower evaluation cycle
- Automated calculation of optimal loan parameters: loan amount, term of the loan, interest rate, etc.
- Customer risk segmentation
- Flexible management of the lender’s credit rules, credit policies and scoring models
- Remote access for distributed sales points
- Setting individual evaluation processes for different products, portfolio segments and business lines
- Evaluating the efficiency and adequacy of the loan origination system’s performance and staff productivity
- Ability to swiftly adjust credit policy (new lending rules, changes in lending rules, appropriate risk margin)
- Digital statement capability to supplement or even replace high cost paper statements
- Automatically tracks all interactions between lender and borrower, including payment history and customer service queries
- Automatically updates borrower credit bureau data
- Push communications via SMS, text and/or email for account alerts and payment reminders
- Customers can upload documents for fast, easy application review
- Customers can make payments via direct debits and auto-pay features
Interface & Integration
Simplicity is key when you’re designing a software solution that creates measurable efficiencies. The Turnkey Lender interface is clean and clear. It was designed to be understood intuitively with little or no cross reference to cumbersome manuals or pop-up screens. It easily integrates with multiple outside providers, so all the loan servicing tasks can be completed without the need to exit the loan servicing environment. This outside vendor integration also allows numerous data fields to be auto-populated, saving substantial time and energy by reducing the need for manual data re-entry. This process also reduces processing time by reducing human error during the data re-entry process.
IT Support & Customer Service
As a small to mid-size lender you don’t often enjoy the luxury of an internal IT department that manages all your technology needs in real time. At Turnkey Lender you (and your customers) get the next best thing. A team of technical professionals who are on-call and at your disposal 24/7 via online chat, email, live telephone call, or online Q&A. Whatever communication channel works best for you.
One with all the functionality reserved for big financial institutions, but specially designed for a small to mid-size lender?