PerfectLO Is Using Mortgage Technology To Perfect The Loan Process

A cloud-based mortgage technology software, PerfectLO solves one of the most common problems in today’s home loan application process: a borrower’s failure to offer the detailed information necessary to complete his or her true mortgage profile.

Through an Intelligent Interactive Mortgage Questionnaire that makes no assumptions and fact-finds even the smallest details, PerfectLO provides a thorough document checklist to the borrower based on his or her answers. This questionnaire can be completed at a borrower’s convenience on any mobile device or desktop. As part of PerfectLO’s super-efficient loan processing platform, the loan originator has the opportunity to interview the prospective buyer “live” while following a systematic, foolproof process. Mortgage planners can clearly identify a borrower’s mortgage needs and risk, without triggering TRID, and are able to access a summary of key information that can be imported into their Loan Origination Software (LOS).

The PerfectLO platform also provides text/email notifications, an easy-to-read document with all of the borrower’s answers, and a Document Center for securely downloading and uploading documents between the borrower and loan officer. One of the most attractive features of PerfectLO is the system’s removal of the traditional back-and-forth correspondence between lender, processor, underwriter and borrower. In fact, the software is strategically designed to work for even the most complicated borrowers.

Special customizations made possible through PerfectLO include:

    • White labeling that allows the header and footer to be customized at the company and mortgage planner level
    • A unique link created for each originator to attach to their email signature, social media pages and more
    • A custom URL for companies to embed into their website, giving borrowers an option to choose the mortgage originator with whom they wish to work
    • Email/text notifications sent to the lender when the borrower both starts and submits their questionnaire

Ultimately, PerfectLO eliminates inaccurate loan applications resulting from assumptions or inadequate fact-finding. Likewise eliminated are unnecessary credit pulls and time and money wasted on loans that will never be closed. Instead, PerfectLO offers a simplified and streamlined process that leads to clean and accurate home loan approvals and equips the mortgage lender with all the borrower’s data from the moment they start the application process. As an added bonus, lenders own any and all of this data, allowing them to take their pipeline with them wherever they go.

Click here to watch a demo of the PerfectLO platform or visit the PerfectLO website for more information.