Many of today’s mortgage professionals have come to expect paperless technology as a given when maneuvering through the sometimes arduous process of completing a loan application. From online chatting to e-mail updates, much of what takes place within the mortgage industry can now be tackled from the comfort of our own computers, but despite all these tech advancements, we still have a lot of catching up to do. This is because just as it seems we have tackled the latest tech products with ease, new products come in to play and take predominant use over anything that is even the slightest bit slower or more timeworn. One product that seems to be overtaking laptops as of lately is the tablet.
In the simplest of terms, tablets can be considered a hybrid of laptops and smartphones. From the angle of today’s computer capabilities, tablets allow for a touch-screen keyboard and can imitate both PCs and Macs. At the same time though, tablets can also be synced with the user’s phone contacts and can contain downloaded smartphone-like apps, the latter of which offers nearly endless capabilities.
The tablet is quickly growing in popularity, and it is clear that the new product is here to stay, but despite its positive and innovate influence within the tech world, most industry professionals have yet to adopt the tablet for their daily use of mortgage technology. And with a lack of presence from mortgage tablet apps, today’s mortgage leaders are unable to take full advantage of helping to refuel a housing market sill in recovery. Fortunately, On the Go Technology LCC is helping to pave the way for the next step in mortgage technology with the release of the first mortgage system designed from the ground up solely for tablet usage: MobileLO.
MobileLO is the first true tablet-based 1003 application system available within the mortgage industry. This application allows the originator to pull and review a borrower’s credit report directly on the device. The software also features the ability to export a FNMA 3.2 file directly to any loan origination system. Further, the MobileLO tablet application allows the loan originator to generate compliant federal and state-specific disclosures. Lastly, the borrower can sign using their finger, or a stylus, and that signature will transpose on to the disclosure set generated on the device. Unlike computer-based or even smartphone-based mortgage applications, there is no need to be online and best of all, the application is immediately available for download from the iTunes store at NO COST. Originators who have not made the leap to tablet computing can still use this system via their Web browser at MobileLO.com. MobileLO offers a free membership with basic services and a premium membership for those originators that want to experience all that mortgage tablet computing has to offer.
While MobileLO offers a revolutionized way of completing mortgage applications and pushing the industry further into the 21st Century, there is still a long way to go to catch up to today’s tech offerings. Tablets are the future of technology. Envision all the tablet-based apps that have yet to be created, which will further modernize mortgage technology. Taking this into consideration, the mortgage industry will certainly have its place in the forefront of ground-breaking business advances for years to come. Check out the future of mortgage technology at MobileLO.com.
Andrew Weiss-Malik, chief operating officer at 360 Mortgage Group LLC, is recognized as an industry leader in mortgage-technology innovation. He utilizes his experience in capital markets, mortgage-product development and efficient operations to expand the capabilities of mortgage bankers. At 360 Mortgage Group, Weiss-Malik has developed the most advanced wholesale technology platform in the industry. He may be reached by phone at (866) 418-2997 or e-mail [email protected]