Two things that are always a part of the conversation surrounding technology and the mortgage industry: increased efficiency and improving the borrower experience.
With the latest integration partnership between SimpleNexus and Mortgage Coach, the goal is to address both.
SimpleNexus has added Mortgage Coach’s Total Cost Analysis (TCA), the first borrower conversion platform for mortgage lenders, to their digital mortgage platform. This aims to increase the loan application conversion rates of SimpleNexus’ clients and loan officers through Mortgage Coach’s Loan Comparison, TCA and SimpleNexus’ Mobile Originator™ tools. When a borrower first uses the SimpleNexus mobile app with this integration in place, a TCA record will automatically be created for them in Mortgage Coach, where originators can personalize and narrate the Total Cost Analysis details. The borrower can then compare different loan products and choose the one that is best for them through access to these details directly from the SimpleNexus mobile app home screen.
“By adding the Mortgage Coach Total Cost Analysis automatically to every application, Simple Nexus has delivered on two of the most important needs borrowers demand in the mortgage approval process, ease and options. Our mutual lenders need to convert every transaction by reducing fallout. This innovation provides a TCA at the earliest possible point in the application process, establishing trust and commitment from day one with the borrower,” Joseph Puthur, president of Mortgage Coach, said in a statement.
Loan officers are on the front lines of creating relationships with the borrower, which is why they’re a vital component of the platform. They’re able to use tools to engage the borrower and realtors all within the platform, cobranding with partners in order to form relationships early in the process.
“Mortgage Coach has first and foremost always kept the consumer in mind. We're proud to work with a company that brings transparency, and increases trust between consumers and lenders,” stated Matt Hansen, SimpleNexus Chief Executive Officer.
Through a transparent and educational experience, loan officers can demonstrate their commitment to their customer and the value of their role in the mortgage process by delivering a complete and personalized experience, with graphs, charts, videos, and audio recordings, on any device. They can update presentations/TCA information in real time, and loan officers stay abreast of when their presentations have been viewed with mobile report tracking.
“The goal of our platform is to help lenders increase their revenue, increase referral partners, increase retention while still providing an amazing borrower experience,” said Casey Hughes-Wade, enterprise account executive at SimpleNexus.
Hansen, a developer, created SimpleNexus in 2012 as a loan officer-facing app, and it has since evolved into a full digital mortgage platform with more than 200 enterprise mortgage companies and more than 20,000 loan officers nationwide.