OneTrust Home Loans is now using LenderLogix‘ Fee Chaser product to streamline its operations and compliantly collect upfront fees from its borrowers.
Fee Chaser’s direct integration with OneTrust Home Loans’ loan origination system (LOS) enables loan officers and other support staff to send a unique payment link to the borrower with one click. Once borrowers pay using the link, Fee Chaser delivers a receipt to all parties and automatically updates the loan file within the LOS. The average turn time between sending the link and receiving payment is five minutes, the company claims.
“Providing a seamless borrower experience and giving our loan officers the tools they need to be successful is more important than ever in today’s market,” says James Hecht, CEO of OneTrust Home Loans, in a release. “Fee Chaser turns the manual process of collecting payment information into a quick and efficient process for all parties.”
“It’s amazing how simple changes can make a tremendous difference,” adds Patrick O’Brien, co-founder and CEO of LenderLogix. “By shifting payment for underwriting- and processing-related fees earlier in the transaction, lenders like OneTrust can save thousands of dollars while also improving borrower ‘stickiness.’ Solving problems like these is exactly what the LenderLogix product suite is designed to do.”