Stearns Lending has launched “bsnap,” a mortgage app that can be customized for independent brokers.
Bsnap is branded with the broker’s logo and company information. Brokers can share the private-label app with their borrowers, who can use the app to apply for loans, e-sign documents and forms, upload loan documents, view loan details, track loan status and tentative closing dates, and communicate securely with the broker.
“Most independent brokers do not have custom mortgage apps, and keeping up with technology upgrades can be challenging,” Stearns CIO Uday Devalla said. “At Stearns, we’re committed to investing in technology like bsnap to help give our brokers an edge.”
Stearns said the bsnap app allows brokers and borrowers access to all loan information. The app also allows brokers to securely export their borrower’s data from bsnap directly into most loan origination software systems. Almost every step required to process a loan, from sending and signing most documents to requesting tax records and income verification, may now be done digitally and securely, using a mobile device.
“Today’s buyers are looking for a better way. They’re asking for and expecting the ability to apply for loans online, from anywhere, using their phones—and they prefer brokers who provide faster approvals and a simpler, easier experience,” Stearns CEO David Schneider said. “We know the launch of bsnap will push the industry to a new and better place for buyers and brokers.”