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.
https://www.housingwire.com/articles/how-digitizing-the-lending-experience-can-optimize-margins/
About Note Servicing Center
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid.
Contact us today for more information.
Share This Story, Choose Your Platform!
Related Posts
Disclaimer
The information provided in this article is for general educational and informational purposes only and does not constitute legal, financial, investment, tax, or professional advice. Note Servicing Center, Inc. is a licensed loan servicer and does not provide legal counsel, investment recommendations, or financial planning services. Reading this content does not create an attorney-client, fiduciary, or advisory relationship of any kind. Nothing in this article constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation regarding any security, promissory note, mortgage note, fractional interest, or other investment product. Any references to notes, yields, returns, or investment structures are illustrative and educational only. Past performance is not indicative of future results, and all investments involve risk, including the potential loss of principal. Note investing, real estate transactions, and lending activities are subject to federal, state, and local laws that vary by jurisdiction and change over time. Before making any decision based on the information in this article, you should consult with a qualified attorney, licensed financial advisor, certified public accountant, or other appropriate professional who can evaluate your specific circumstances. Some articles on this site include hypothetical stories, examples, and scenarios created to illustrate concepts and demonstrate the types of situations Note Servicing Center, Inc. handles. Any names, companies, properties, and circumstances in these examples are fictitious or have been anonymized to protect confidentiality, and any resemblance to actual persons or entities is coincidental. These examples do not describe specific clients and do not guarantee any particular outcome. Some content may be created with the assistance of generative AI tools and may contain errors or omissions. While we make reasonable efforts to ensure the accuracy of the information presented, Note Servicing Center, Inc. makes no warranties or representations regarding the completeness, accuracy, or current applicability of any content. We disclaim all liability for actions taken or not taken in reliance on this article.