Mortgage service providers have launched or updated mobile applications to help with appraisals, credit reports and production. A pair of reports offer insight into mobile technology.
A survey conducted by the American Bankers Association found that 60 percent of consumers prefer to apply for a mortgage in person. At the same time, the prefer to research loans online.
When it comes to obtaining a home loan or making mortgage payments, ABA found that 61 percent of consumers
consider mobile and online services important.
The trade group conducted the survey of 1,966 adults during May.
Among the findings in an annual report from Malauzai Software was that the growth of new applications at banks and credit unions has slowed and is now saturated. Just five primary vendors supply most of the applications.
Although wearable technology is gaining momentum, most financial institutions haven’t created an application for the Apple Watch. Also, stand-alone apps are disappearing.
Malauzai’s findings were based on data from nearly 7,700 financial institutions with assets ranging from $0.05 billion to $5 billion.
Global DMS recently revealed that it maintains a mobile application for appraisers known as
eTrac Appraisal Tracking On Mobile or ATOM. The application allows appraisers to accept orders, schedule appointments and call borrowers. It additionally enables statuses to be updated and provides directions to the subject property being appraised.
Global DMS is a Mortgage Daily advertiser.
A new mobile application launched by Equity Prime Mortgage LLC, an announcement indicated. Loan originators, Realtors and borrowers will benefit from the technology.
The application, which is integrated into the Atlanta-based company’s loan origination system,
enables loan officers to track, monitor and respond to borrowers. In addition, real estate agents and prospective borrowers can track the loan process.
Credit Plus Inc.’s Trended Credit Data solution has been added to the Floify App Store, a recent statement indicated. The integration allows lenders to automatically collect borrowers’ credit reports during the 1003 ‘Apply Now’ or on demand directly from their Floify account.
