Mortgage Loan Processing

Written by Jessica Duquette
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Mortgage loan processing is a heavy administrative burden on many lenders. With a dozen loan officers working on multiple applications at once, one can only imagine the clutter and confusion among paperwork. Misplacing credit applications, missing Truth in Lending statements and hundreds of over flowing filing cabinets are an accurate depiction of many loan offices.

Electronic Mortgage Loan Processing

In this technology age, why aren't more people turning to electronic solutions to alleviate these problems? With automated tracking technology, lenders and borrowers can watch as their application makes its way through the approval process. This can eliminate the unnecessary status calls mortgage companies are prone to receiving.

Today, some technologically-savvy lenders are picking up on electronic mortgage loan processing solutions. With automated signatures and browser based viewing tools, borrowers can log in from any computer with internet access and check to see if their loan has been approved. Waiting impatiently for confirmation can be stressful on the borrower and in turn on the lender.

Retaining Customers

To improve your customer satisfaction and retention, consider updating your processes. With advanced security measures you're clients will feel safe knowing the lengths you've gone through to protect their personal information. As the world becomes more reliant on technology and less dependent on paper, you should consider reflecting this behavior in your business practices.

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