TORONTO, ON / ACCESSWIRE / May 18, 2021 / Thanks to advancements in the digital space, borrowers everywhere have discovered the advantages of working with private lenders. Like traditional financial institutions, private lenders fund short-term and longer-length loans. However, they also present attractive alternatives and opportunities.
This doesn't mean potential customers will lower their expectations of the service they receive from private lenders, though. Borrowers have become accustomed to the streamlined processes offered by banks and credit unions. Consequently, they expect the same degree of efficiency out of their private lenders.
As a result of these demands, private lenders are turning to a variety of partners and tools to woo borrowers. Their overarching goal? Provide a better, faster, and more agile form of customer service than banks typically offer. One premier solution that's making its mark in the private lending field is loan origination and servicing software from Mortgage Automator.
Giving Private Lenders a Practical, Professional Boost
The award-winning Mortgage Automator product is an adaptable piece of technology, making it a customizable tech stack addition. It's designed to reduce friction points for private lenders by removing redundancies, assuring compliance, and improving communication. When running at full capacity, Mortgage Automator releases several "pinch points" that hinder and hamstring private lending businesses.
1. Tasks and processes can be automated.
Lenders try to be efficient by standardizing their processes and tasks, while Mortgage Automator enables them to automate those processes completely. Whether it's tasks and to-do lists, issuing term sheets or pre-approvals, or even sending title and lawyer instructions, it can all be done with a click.
By focusing on communication, the borrowers are always in the know about what's going on with their deal via email and SMS text messaging. When the time comes to upload or sign the documents, it's all done digitally. Mortgage Automator speeds up the entire origination process and helps achieve efficiencies throughout the organization.
2. Documents can be templated.
As with any company, private lenders need to establish brand protocols and expectations. It's critical for this branding to extend to all communications, right down to email letterheads and text notifications.
The Mortgage Automator system puts messages into proper format every time, reducing the risk of brand confusion and removing the need to type out emails. Imagine perfectly formatted, beautiful documents that are also complete with auto-populated and accurate information. Brand clarity across all interactions sends a strong message to consumers that they're working with a reputable business.
3. Data security measures are embedded in the software.
Data privacy is very important for all lending institutions, including private lenders. A single vulnerability could lead to a media nightmare-not to mention government penalties and substantial fines.
Mortgage Automator takes painstaking efforts to keep all the data contained on its servers completely secure. The software has been engineered to very high security standards, including at-rest data encryption and as well as 256-bit TLS end-to-end transmission encryption.
Certainly, private lenders should still maintain a high degree of internal security by using two-factor authentication and other available tools. They should also comply with all federal and state regulations. Nevertheless, they can feel comfortable trusting the integrity of the Mortgage Automator product.
4. Built with servicing at the forefront.
While an open API can make integration with third-party loan services easy, many lenders choose to service their loans in-house. Because of that, Mortgage Automator was built to maintain trust ledgers and process ACH and credit card payments directly through the system to make utilizing other platforms easy.
Of course, it doesn't hurt that the system also emails and texts the borrowers in case of a late or bounced payment, even before the servicing staff has a chance to call.
5. Questions about the software are easily resolved.
A key reason for Mortgage Automator's majority five-star ratings lies in the company's service philosophy. Unlike other vendors, Mortgage Automator encourages a robust give and take with customers. In turn, this allows those customers to resolve concerns faster and be wowed with exceptional interactions.
Mortgage Automator offers private lenders both self-service and concierge service options. Every client goes through onboarding, training, regular follow-ups, and access to the support and document teams. And that support comes fast. Whether it's over email, chat, or a phone call, the support is there to help resolve problems when lenders need it.
6. Each package is personalized for the lender's needs.
Many platforms don't provide the customization and personalization needed to really allow lenders the flexibility to get the most benefits out of it. They are often a "take it or leave it" type of solution. Although Mortgage Automator has the attractiveness of an off-the-shelf solution, it's highly customizable. It focuses on a flexible system meant to adjust the lender's existing processes instead. It can help significantly modernize and improve their workflows, making it easier than ever to keep up with their busy schedules.
Before purchasing a subscription, each private lender is given a personalized demo. The demo helps lenders understand how to best use the service-and whether a specific system package is the right fit. This transparency takes away worries about making a wrong decision about something as important as private lender software.
Consumers like having the freedom to choose how they spend and invest their money. But they're not always certain turning to a private lender is a safe move. To compete with heavy hitters like big financial institutions, private lenders need to be able to keep up. They also need to show they're competitive in all the right ways. Mortgage Automator helps them build a loyal and trusting clientele looking for the best borrower deals available.
CONTACT:
General Inquiries
Email: info@mortgageautomator.com
Phone: +1 866-477-5507
SOURCE: Mortgage Automator
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