Sarah Wheeler, Editor-in-Chief of Housing Wire, spoke with Network Funding, LP Head of Product Nicholas Ripple, Tim Nguyen, CEO and Co-Founder of BeSmartee, and Amy Brandt, President of First American Docutech, to learn how the Point Of Sale (POS) software may help improve the customer experience.
Ripple and Nguyen both referred to 2016 as a “gamechanger” year in terms of shifting the focus to the consumer experience. According to Ripple, POS was all the rage. They had fixed the problem very straightforwardly and attempted to automate as much as possible. As a result, fewer keystrokes, mouse clicks, and overall consumer experience are reduced, resulting in less labor for the user. Again, it was a commitment towards making things easier, faster, and more visible.
The purpose of streamlining the lending process for all three organizations represented is not confined to making it easy for borrowers. A uniform approach benefits loan officers, other suppliers, and the various parties involved in the mortgage process. According to Brandt, it’s better to combine everything into a single UI and make it easier. So, while they create papers at Docutech, we’re also building a unified digital experience across all of those systems.
When asked what advice he would provide to a lender who hasn’t yet computerized the application process, Nguyen was straightforward: “If you don’t have a POS, acquire one.” Indeed, if you have a POS, put it to the test and see what it can accomplish for you.
To learn more about how digitizing the loan process might improve margins, click here.
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