Mortgage lenders everywhere are deploying online portals where consumers can submit paperless applications and, with the advent of automated income and asset verification and automated underwriting, get pre-approved for a mortgage loan in just minutes.
This push to automate the mortgage process means lenders of all types – including wholesale lenders – are in a race to adopt technology that will help them differentiate in the marketplace and gain market share – particularly with millennials, who now represent the largest opportunity for business growth.
As such, United Wholesale Mortgage, one of the largest mortgage wholesale companies in the U.S., has introduced a new mortgage portal that modernizes lending for all brokers and levels the playing field with mega retail-oriented loan platforms.
The multi-functional portal allows consumers and brokers to submit applications from any Internet-connected device. Borrowers are given the capability to start the loan application process, pull their credit, e-sign documents, verify assets and track the status of their loans.
“Technology and consumer-driven tools are building momentum within the mortgage industry,” says Mat Ishbia, president and CEO of United Wholesale Mortgage, in a release. “With BLINK, new home buyers or existing homeowners will be able to initiate the loan process from any mobile device, in the comfort of their home, on their own time. We’re proud to make this great tool available to brokers throughout America, as we believe that brokers are the best place for all borrowers to get a loan. It is a focus of ours to give brokers access to the best technology tools to compete with the mega retail lenders.”
For more, click here.