DocMagic Inc. has announced the launch of BorrowerMobile, an interactive application that turns any tablet or smartphone into a seamless communication tool for borrowers and lenders. Through BorrowerMobile, lenders simply invite borrowers to download the BorrowerMobile application and the system establishes a direct communication link between the lender and borrower, allowing all parties to interact and share information from anywhere—communication is instant, seamless, and completely secure.
BorrowerMobile brings transparency to the loan process. Borrowers have constant access to their loan status, giving them the ability to anticipate and understand next steps; electronically satisfy loan conditions, and eSign documents and disclosures… all with the touch of a finger. BorrowerMobile allows lenders and closing agents to communicate loan conditions immediately, giving borrowers a real-time “to do” list. As borrowers satisfy the list of conditions, the application instantly updates the lender and closing agent as items are satisfied.
At a glance, BorrowerMobile’s loan status page allows the borrower to track the current stage of their loan—including application, verification, loan preview, or closing. Borrowers are able to see the progress of their loan in real-time along with estimated target dates, expanded milestone descriptions and specific loan information. BorrowerMobile also includes helpful tools, including a mortgage calculator, a glossary of mortgage terms, the lender’s latest news, and more.
BorrowerMobile leverages DocMagic’s eSign process, the fastest, easiest and most secure way to get documents signed. Borrowers can review and eSign loan documents and disclosures, attach any required trailing documents, or provide additional information instantly. BorrowerMobile can be easily customized to share the lender’s unique branding style and the system can easily integrate with any loan origination software system (LOS).