DES MOINES, Iowa – (COMMERCIAL LINE) –LenderClosea fintech was launched which is committed to providing technological solutions to credit institutions Home Equity Express (HEx), a cloud-native technology for placing collateral verification data and reports through an intelligent, automated workflow, reducing the time it takes for credit unions and community banks to process a home loan. With HEx, lenders can spend much less time on file, with some existing customers reporting that their creation time has been reduced by nearly 60%.
HEx launched by LenderClose gives loan officers, processors, or underwriters the flexibility to process and originate at a much faster rate than traditional methods of collecting subject ownership collateral data. The technology is built with a certain level of algorithmic intelligence to ensure that exceptions in the collected data are intended for underwriting and portfolio risk tolerance purposes. The process of automating real estate collateral data is as simple as hitting “Go”. The resulting instant gratification via a single user interface (UI) that home equity loan teams can operate in reduces the friction in the loan disbursement process.
“LenderClose and its HEx solution have built-in functionality via an automated workflow that provides a consolidated user experience in a single user interface loaded with critical collateral verification data and reports for the home equity loan process,” he said. said Andrew Deignan, vice president of product at LenderClose. “The technology is self-guided, which is drastically different from how most loan processing is done today. Our focus on innovation remains in line with our brand promise of speed, efficiency and a better borrower experience. ”
“The pandemic has sparked a global ‘nesting’ trend,” Deignan added. “Many homeowners are reinvesting in their home office, kitchen and backyard spaces. With HEx, community lenders receive a tool to help them effectively reintroduce a new edge into the home equity loan space through a back-office technology and process that is more focused on giving consumers what they want. await, immediate gratification.
About LenderClose, Inc.
LenderClose is a technology-centric real estate and real estate lending platform that injects speed and efficiency into the lending process, greatly improving the lending experience. Based in Des Moines, Iowa, the fast-growing financial technology company focuses on providing innovative lending solutions and automated workflows to credit unions and community banks. To learn more, visit financiereclose.com.