Simplist Technologies has launched Sonar, a mortgage lending solution that combines point-of-sale (POS) and loan origination system (LOS) into a single, AI-enhanced, streamlined platform.
The team at Simplist used their firsthand insights from solving the consumer-facing part of the puzzle to uncover and tackle the biggest challenges facing the back-end used by industry professionals, the firm says in a release.
The new platform empowers mortgage professionals with a unified, AI-enhanced solution that optimizes processes, increases productivity and fosters seamless collaboration, the company claims.
Release of the new solution follows a successful beta phase with over 200 mortgage companies.
Sonar seamlessly integrates loan origination system (LOS) and point-of-sale (POS) systems, providing mortgage professionals with a comprehensive, all-in-one solution to revolutionize the mortgage journey from start to finish.
“With Sonar, we’ve combined the POS and LOS into a single, streamlined platform, enhancing the entire mortgage journey for mortgage originators and borrowers alike,” says Chris de la Motte, co-founder and co-CEO of Sonar. “By helping thousands of people secure mortgages through Simplist, we gained deep insights into the often disjointed and complex nature of mortgage systems. We experienced firsthand the frustrations of using a fragmented tech stack, and Sonar was built to solve these problems by creating a seamless, modern solution for the entire industry–including borrowers and mortgage professionals alike.”
The mortgage industry has long grappled with outdated and disconnected systems, often requiring mortgage professionals to juggle multiple tools to manage a single loan. This disjointed process can result in high costs, inefficiencies and frustration for originators and consumers alike. Sonar addresses these challenges head-on by offering a unified platform that simplifies the origination process, enhances productivity and reduces costs.
Key features include the following:
- AI-Enhanced Efficiency: Sonar’s artificial intelligence (AI) capabilities automate routine tasks, accelerating workflows and allowing mortgage professionals to focus on higher-value activities.
- Real-Time Collaboration: Multiple users can work on the same loan simultaneously, promoting seamless teamwork and faster loan processing.
- White-Labeled Flexibility: Firms can implement their branding and identity throughout the entire platform, offering a consistent experience to clients.
- Scalable Architecture: Designed to support large teams and growing businesses alike, Sonar is highly configurable and built to evolve with each company’s changing needs.
“With over 20 years of experience in the mortgage industry, I have never been as excited about a development as I am about AI,” says Anthony Sherman, co-founder and co-CEO at Sonar. “AI is set to revolutionize mortgage origination by automating the nuanced processes, reducing costs for originators, minimizing errors and ultimately providing a better experience for consumers. At Sonar, we are proud to be at the forefront of this transformation, streamlining workflows and relationships with AI-powered tools and bringing mortgage loan origination into the modern age.”