LenderMobile, a provider of mobile mortgage loan applications for iPads, has added two new features to its LenderMobile+ flagship app in response to users’ requests. The new imaging feature lets loan originators and borrowers take photos of documents with the iPad camera and add the images to loan files through cloud computing technology. Plus, the new loan notes feature lets users add notes to a loan file directly from their iPad.
On the iPad screen, loan originators can click the new photo button of the LenderMobile+ app to take pictures of documents for a loan file, such as W-2 forms, tax returns, paystubs and drivers licenses, and do so from anywhere, from a borrower’s home to the local coffee house. Or users can choose from the iPad app’s library of photos to add to a loan file. This feature gives users the option of cancelling photos, so they can re-take photos of documents if not satisfied with the original ones.
Once added to a loan file on an iPad, the document photos in the LenderMobile+ app are then validated and processed in the LenderMobile computing cloud and can be sent to a lender’s LOS. With the app’s photo feature there is no need to scan, e-mail or fax documents.
The new LenderMobile+ loan notes feature enables loan originators to add notes to individual loan files. A loan notes form is available on the screen for each loan file where users can type and save their notes in a free form text.
“We're making our iPad app more useful to users when originating mortgages,” said Iavor Boyanov, chief technology officer and co-founder of LenderMobile. “The new document photo feature is great for loan agents on the go who need copies of borrower loan information quickly to avoid any processing delays. And more and more loan agents requested the ability to write and add notes for particular loan files from their iPads, and we delivered."
The LenderMobile+ iPad app uses cloud computing technology to bring mortgage origination capabilities to the screen of any iPad user who has downloaded the mobile application. Loan originators using the app can complete all the required mortgage application forms, save the loan data and securely submit them to their LOS. Borrowers can electronically sign the loan application directly on the iPad. Loan agents also can order vendor services from their iPads, such as credit reports and review them in real-time with borrowers.
LenderMobile+ can generate individual loan files, enabling users to add documents and other data to the file as well as deleting documents that are no longer necessary. Uploaded mortgage forms are automatically checked to see if they have been completed and electronically signed. The app handles all the necessary file generation for lenders, such as files for Fannie Mae’s DU 3.2. Data files can be written based on DU 3.2 specifications for a new file.
The LenderMobile+ application can be downloaded at no charge from the online Apple App store. A monthly subscription is required for loan originators using the LenderMobile+ app to order services from third-party vendors and submit mortgage loan documents to their LOS.
