Calyx, a provider of mortgage software solutions for banks, credit unions, mortgage bankers, wholesale and correspondent lenders, has enhanced its Zip point-of-sale (POS) platform with several new features including the ability for borrowers to upload documents and an interactive borrower dashboard to provide more visibility into the loan process.
The new borrower dashboard allows borrowers to monitor their loan application’s progression, reducing anxiety and increasing their satisfaction with the mortgage process.
Additionally, Zip administrators can choose to activate the document upload feature. When activated, borrowers can upload essential loan documents such as income and identity verification, while completing the borrower interview.
The new version also includes borrower questions to support HELOC origination, as well as refinance and home equity options for second homes and investor properties.
The update also gives borrowers access to their loan officer’s contact information by clicking the “help” icon in the interview portal.
“Research from leading consultants, like the Boston Consulting Group, has found that access to real-time status information is one of the major factors influencing the overall customer satisfaction in the mortgage process,” says Sung Park, senior vice president of development at Calyx, in a release. “The latest enhancements to Zip allow loan originators to provide a borrower experience that is transparent, engaging and convenient. In addition, the enhancements also enable banks and credit unions to add proven, easy-to-use technology to their home equity and investor lending programs.”