Lender reports strong demand for streamlined and remote homebuying process
Non-QM lender Angel Oak Home Loans has announced a collaboration with fintech company SimpleNexus that aims to streamline the origination process for loan officers and enhance customer experience.
According to its release, Angel Oak has implemented SimpleNexus’s Nexus Engagement and Nexus Origination to provide its originators with an automated and mobile-first toolset that improves customer experience and streamlines the mortgage process.
“At Angel Oak, we are enthusiastic proponents of using technology to optimize business processes and improve the borrower experience at every point in the mortgage transaction because it generates better outcomes for everyone,” said Richard LaNasa, president of Angel Oak Home Loans. “SimpleNexus is a cutting-edge platform that provides the best of both worlds: a single-sign-on borrower experience that reinforces customer trust in our brand and point-of-sale with seamless workflows that unify efficient production of our lending portfolio.”
SimpleNexus has developed a customized loan application for Angel Oak, which supports both agency mortgage lending and unique data fields for non-QM lending. Additionally, loan originators can generate, distribute, e-sign and organize these document types using SimpleNexus’s “one off docs” management.
“While it’s true that no two lenders do business the same way, Angel Oak Home Loans has a clear commitment to making homeownership possible for creditworthy borrowers of diverse financial backgrounds,” SimpleNexus chief product officer Shane Westra said. “We are proud to bolster the growth and innovation that Angel Oak Home Loans brings to the mortgage industry.”
Read more: Angel Oak Home Loans opens non-QM business in new locations
The move aligns with Angel Oak’s strategy to expand its non-QM lending business. In July, the Atlanta-based company opened five new branches across California, North Carolina, and South Carolina.
“We’re pleased to deepen our roots throughout the Carolinas and provide an array of traditional and innovative loan products to more qualified borrowers across the country,” said Brian Mitchell, regional sales manager at Angel Oak Home Loans. “We’ve seen a drastic increase in demand and the pace at which homes are being sold, especially in the Southeast. In response, there has also been a strong appetite for ways to streamline the homebuying process, including options that could enable the entire process to be conducted remotely.”