SimpleNexus reports that more than half of the 37,157 mortgage applications handled on its platform in May were started via a mobile device.
This shows that consumer preference for mobile loan applications has reached the tipping point, the company says in a release.
“Our triple-digit growth and enthusiastic adoption by loan originators, real estate agents and loan applicants shows how SimpleNexus is delivering on a market need for a mobile origination toolset that gets more loans to the finish line, faster,” says Matt Hansen, founder and CEO of SimpleNexus. “We are proud to be setting the bar for what a digital mortgage platform should be.”
The finding comes as the firm is clocking record loan application submissions and growing at an unprecedented rate.
To date, the SimpleNexus platform has connected its 20,000 active loan originators with 1.1 million borrowers and 65,000 realtor partners to produce nearly five million loans totaling over $100 billion in volume.