Data Shows Lenders Implementing Digital Mortgage Platform with Dramatic Adoption
Continuing its impressive growth, SimpleNexus has announced the signing of 25 new clients in the first quarter of 2018. The growth further demonstrates an industry-wide embrace of new lending technology, and the leading role SimpleNexus occupies in the digital mortgage transformation.
“We like to say we are the largest digital mortgage platform that nobody has ever heard of because we private-label the software,” stated Joe Wilson, SimpleNexus chief marketing officer. Lenders have responded very favorably to the customized solution. SimpleNexus now has 15 of the top 25 retail mortgage lenders in the US using its enterprise digital mortgage platform.
Over $100 billion in transactions have flowed through the platform, and over 450,000 borrowers have used the SimpleNexus app. There are now over 100,000 co-branded apps where realtors, builders, financial planners, and other partners collaborate with loan officers for transparent transactions and pipeline visibility through the loan process, while also providing loan officers with additional referral business.
Wilson continued, “We are humbled that so many lenders have put their trust in SimpleNexus for their digital mortgage needs. We learned early in the development of our product the value of talking and listening to what lenders needed in a digital solution. That decision is now paying significant dividends.”
The SimpleNexus solution connects lenders with its borrowers and Realtor partners to a single, branded platform to easily exchange data and documents throughout the entire loan lifecycle. Borrowers can search for homes, apply for a mortgage, run calculations, upload documents, and see real-time status of their loan progress.
With SimpleNexus, a loan officer becomes a mobile originator. Through its smartphone app, loan officers are able to view new loan applications instantly, pull and view credit reports, run live pricing scenarios via Optimal Blue, see a live CRM feed, and send pre-approval letters—all of this from the palm of their hand, as the app connects real-time with their LOS.