Luminate Home Loans is using the Cloudvirga Horizon Wholesale Platform to optimize efficiency within its wholesale mortgage division.
By implementing the Horizon Wholesale platform, Luminate’s brokers will have greater visibility and control within the loan approval process, and the platform will enable them to order critical services such as credit, verification services, fee services, pricing and mortgage insurance as well as submit the loan to underwriting, Cloudvirga says in a release.
They will also be able to quickly create loan scenarios, generate compliant disclosures for consumers to eSign and collaborate directly with Luminate through the application process.
Finally, Luminate brokers will have a real-time view into their individual pipelines to monitor the status of each of their loans and quickly respond to open requests.
“For the foreseeable future, purchase mortgages are expected to make up the lion’s share of overall originations and, in this environment, brokers will play a critical role in not only sourcing customers but also advising them through the origination process,” says Maria Moskver, CEO for Cloudvirga. “Forward-looking lenders like Luminate are investing in the technology and tools to help them grow their third-party originations by taking time, friction and cost out of the process.”