Providing the best mortgage experience for your borrowers means investing in modern mortgage lending solutions that prioritize customer service, simplify the homebuying process, and help first-time homebuyers understand their loan options without feeling pressured.
You might thing that’s a lot to ask out of mortgage software, but it’s entirely attainable with the right platform.
Here’s an overview of five mortgage lending solutions that can help you improve the borrowing experience by putting the focus back on the products and services that set you apart.
How Can You Improve the Mortgage Experience?
Pulling borrowers’ credit reports, getting them a preapproval letter, explaining their loan types, and going through all the origination fees and closing costs – the homebuying process can be overwhelming even for the seasoned pros.
So, how do we help homebuyers stay on top of it all? It starts and ends with offering an exceptional borrower experience that leaves them feeling confident and excited.
Having responsive and friendly staff is one way to support the borrower’s experience. When it comes to the modern lending process, your best bet to compete with online mortgage lenders and big names is to invest in software that will help automate tedious processes, get borrowers on the right page, and keep them in the loop the whole way through.
So, let’s explore the top five mortgage lending solutions that can help you do all that.
1.Nexus Engagement for Stronger Relationships
With so many online services and tools, such as websites to search for homes, compare loans, and calculate mortgage payments, you have to go the extra mile to remain competitive. Nexus Engagement gives you a solid foundation for customizing a branded experience from start to finish so you can capture more leads and keep them engaged.
Build Stronger Relationships With Borrowers
Using Nexus Engagement™, you can create your own customizable mobile app and offer integrated property search, instant chat, and an easy payment calculator all in one place so your leads aren’t tempted by competitors. Instead, if a potential home buyer has a questions, they can interact with your team and get a fast response that keeps them engaged rather than being faced with a phone number, contact form, or long response time that sends them to a competitor.
Plus, when a lead is ready to get prequalified, there’s a user-friendly portal to start their application. Once that application process has begun, Nexus Engagement empowers your team to stay on top of to-dos and keep in touch with leads by offering pre-qualification letters and automatic milestone updates as the mortgage process progresses. The result? You convert more leads into loans, while those leads enjoy unmatched attentiveness.
Strengthen Relationships With Real Estate Agents & Loan Officers
SimpleNexus enables loan officers and partners to maintain a personal connection with borrowers. Your loan officers can personalize the mobile app and online portal with specific contact details, photos, bios, social and website links, NMLS number, and state license info.
When teaming with real estate professionals, your loan officers can create a collaborative version of the mobile app and share it with the real estate agent, who can add their own personalization and provide it to borrowers via text email. Your borrowers will appreciate the efficiencies of the digital tools combined with the personal touch.
2. Nexus Origination for Streamlined Applications
While Nexus Engagement can help you capture leads and get them to start their application, Nexus Origination provides loan officers with the tools they need to seal the deal. Thanks to a mobile-first toolset, borrowers enjoy a streamlined application process from any device they choose, while all parties enjoy total visibility into the lending process.
Nexus Origination™ makes it easy for borrowers to upload the exact documents you need, as you need them, and automated tools help verify the accuracy and completeness, saving your team time. When it comes time to finalize things, borrowers can easily eSign documents.
With over 80 integrations, Nexus Origination gives your borrowers just one platform and a single sign-on to handle everything mortgage-related. No more frustration over forgotten passwords, slow websites, or having to jump from one portal to another. Nexus Origination allows you to customize, simplify, and manage loans with ease.
3. Nexus Closing for Easier Accessibility
Streamlining the homebuying process is a big step in the right direction when it comes to prioritizing the borrower experience. Yet, one of the most exciting and stressful parts of the journey is the very last one; closing day. Imagine if you could skip the scheduling complications, long drives, and delays by giving your borrowers the option to close digitally.
With Nexus Closing™, digital closings are just a few clicks away. Your borrowers will enjoy the speed and convenience of closing on the loan from anywhere. And your team will be able to give more personalized service to your clients. Nexus Closing provides a complete eClosing solution. This includes collaborative tools to help all participants finalize important documents and sign on the dotted line before keys are handed over to the new happy homeowners.
Not all borrowers want a completely digital closing, as there is something special about the traditional key hand-off. That’s why Nexus Closing gives you the flexibility to meet the needs of every borrower. In addition to completely digital closings, you can offer hybrid closings where the closing ceremony is finalized in person, but lengthy documentation processes are handled digitally beforehand. You can also offer traditional mortgage closings using Nexus Closing with back simplicity for your internal team.
4. Nexus Bilingual™ to Support More Borrowers
At SimpleNexus, we believe the homeownership journey is meant for everyone. With Hispanic consumers applying for mortgages and buying homes at record rates, the Nexus Bilingual functionality helps lenders serve this expanding market. With this added functionality, borrowers can now submit their loan inquiries in Spanish while enjoying a process that eliminates misunderstandings by presenting important information in their native language.
When you enable Nexus Bilingual, potential borrowers can decide if they want to see your loan inquiry form, landing page, and welcome email in Spanish or English. From there, they will be asked to complete their application in English in accordance with your limited English proficiency (LEP) policy. However, your Spanish-speaking team members can be notified and assigned to their applications to help them with any questions they may have.
As Spanish-speaking borrowers embark on the homeownership journey, lenders can provide them with the tools they need to increase confidence and overcome language barriers when starting a loan inquiry.
5. CompenSafe and Nexus Vision Streamlines Incentive Compensation & Business Intelligence
The foundation for improving the borrower experience starts with organization and clarity on the backend. That’s why SimpleNexus offers two solutions for enhancing internal processes: CompenSafe and Nexus Vision.
CompenSafe™ is the missing link that automates your mortgage compensation workflows without the headache of manual spreadsheets traditionally used for managing incentive compensation. CompenSafe is the only solution of its kind, making incentive compensation management simple for mortgage lenders. Your team will spend less time struggling with formulas and spreadsheets, and your employees will have clearer transparency into their compensation, creating a win-win for everyone.
Nexus Vision™ gives you the business intelligence you’ve been missing to make competitive decisions that will drive your business forward. with custom dashboards, scorecards, and reports at your fingertips, Nexus Vision allows you to reveal new insights and tap into your company’s mortgage loan data. As a result, you’ll have a greater understanding of your productivity, performance, and opportunities for improvement.
While they focus on entirely different functions, both CompenSafe and Nexus Vision have the power to enhance your internal operations. They can give your team more time in their day to focus on borrowers and offer the mortgage experience that will delight customers and make them lifetime advocates for your business.
SimpleNexus: Mortgage Lending Solutions for Modern Lenders
By combining these tools with a renewed mindset on what borrowers care about, your business can transform the borrower experience almost overnight while ultimately generating more leads, converting more clients, closing more deals, spending less time on loans, and earning more referrals at every step.
At SimpleNexus, we are dedicated to creating and continuously improving a full suite of unique mortgage lending solutions designed for modern businesses and modern borrowers. If yo wish to transform the experience for your clients, team, and partners while growing your business, it’s time to schedule a demo today.