A partnership between Filogix and Doorr is putting control back into the hands of the broker
For several years, brokers have been demanding more choice and optionality, as they search for tools to fit their style of doing business. A partnership between Filogix and Doorr is aimed at doing just that; using connectivity and neutrality to put brokers back into the driver’s seat of their own business.
Doorr, an all-in-one digital mortgage platform, is one of the latest partners to join the Filogix Mortgage Marketplace, offering brokers the ability to pull credit information directly from the bureau, submit to lenders seamlessly and compile disclosure packages all within a single platform. Brokers are often left to piece together different systems to customize their processes and workflows, but the disconnect in how systems communicate or keeping a source of truth can be a barrier of growth for many brokers.
“With this partnership, brokers don’t have to manage fragmented pieces of data across multiple systems,” said Muhammad Rashid, CEO and co-founder at Doorr. “Brokers are empowered by being able to run off a single system and having the Filogix infrastructure built into that is extremely beneficial.”
Ryan Spence, director, strategic accounts at Filogix compares the Mortgage Marketplace to a system of roads.
“Filogix has built an incredible network of smooth highways that flow well, while the team at Doorr built an awesome vehicle that allows a broker to enjoy the ride without being too concerned about the mechanics of the road,” he said. “The broker can be confident that the roads will lead to their destination and the vehicle will get them there safely.”
Having increased choice is a huge benefit to the Filogix world, he added, with Doorr being an excellent choice. Doorr was created to allow brokers to run their entire business off a single system, with three important features in mind, according to Rashid:
- A solution that’s simple and easy to use for brokers, but also their clients
- An all-in-one integrated solution for brokers to displace the several stacked systems many are currently using
- An independent agnostic system that allows brokers to run their business and have full ownership of their data
While solutions on the market already existed, Rashid says many fell short on being customer focused.
“We designed Doorr with the customer in mind which has a ripple effect. A simple solution for the client makes life simpler for the broker, and eventually the lender too,” he said.
Through the pandemic, the team at Doorr began looking at different touch points brokers had with their clients, and how they can transform those processes so brokers can continue to run their business remotely.
“We looked at document retrieval for bank statements, NOAs, and remote signings, and our team created an e-signature function within 24 hours of brokers asking for it, which was a significant accomplishment for us,” he said. We are proud of how we handled the transition from physical to digital when it was more important than ever.”
With brokers often operating differently to their competitors, the Filogix Mortgage Marketplace was created to help the entire broker community stay relevant by offering variety; to have a larger, more robust supply of vendors selling goods and services, whether it’s lenders selling to brokers, or CRM providers like Doorr and other third-party vendors. Spence says the innovation that comes out of choice is tremendous.
“The goal is to become the ecosystem for the mortgage community, so at any point of the transaction, there is a connection to all other parts. It’s a one-stop shop with all the tools, services and software that brokers can choose from for their individual business.”
Beyond offering choice, partnerships like these also offer brokers freedom, with open connectivity and neutrality.
“Brokers need to understand where the ownership of their data lies and the value of having flexibility and freedom to move from one network to another and take that data with them,” said Rashid. “We want brokers to feel empowered to control their business, data and clients.”
Spence agreed, adding that neutrality is the goal: “The more tools available to brokers, the more prepared they can be to make the decisions they need to make to improve their business.”