Floify Provides Fully-Automated Mortgage Lending
Floify is a borrower portal that automates the process of mortgage lending by collecting mortgage documents and sending updates. It helps loan originators by automating time-consuming and often-error-filled parts of the lending process.
Loan origination teams use Floify’s point-of-sale system to collect and verify borrower information, track loan progress, communicate with borrowers and real estate agents, and close loans faster. Floify’s cloud technology reduces the amount of human error during the documentation process and allows originators to spend more time serving customers and closing loans.
The company’s interface walks customers through each step of the borrowing process and allows them to upload their documents directly into the system, eSign disclosures and monitor the status of loans. The Floify mortgage automation platform includes a secured borrower portal, milestone updates, a referral partner portal, automated asset verification (retrieving asset and income statements) and an “Apply Now” feature to direct borrowers. Floify’s integration partners include Encompass, DocuSign, Dropbox, Box Inc., Google Drive, Slack, Veri-Tax and more than 16,000 major banks nationwide. Here’s a quick breakdown of the key features of Floify’s technology:
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- An automated process of collecting loan documents from borrowers
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- Email updates that keep real estate agents and borrowers up-to-date
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- Tracking of back office workflow tasks to avoid the last-minute rush to closing
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- 24/7 visibility into the status of your pipeline
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- The ability to archive loan files for quick and easy access at a later time
To learn more about Floify, click here.
OneSpan is Bringing out-of-the-box Automation to Mortgage Lending
In an industry where mortgage automation has traditionally been tough to achieve, OneSpan — a scalable corporate digital signature solution company — is doing its part to close the gap by assuring legal control of the authoritative copy during its creation and storage as well as during operations for sale, syndication and securitization of loans and leases. The OneSpan Sign solution is an out-of-the-box e-signature solution that can be integrated into apps. For the mortgage and lending industries, OneSpan’s Vault solution provides a single platform solution that fully automates the signing, closing and vaulting of digital assets. Through OneSpan’s Vault platform, users:
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- Deliver disclosures and loan documents for signing on any device
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- Review and notarize closing documents and transfer them to an electronic vault
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- Securely manage, track and store the authoritative, electronic original copy of loans and leases in a vault
OneSpan eliminates manual processing and related errors and costs by digitizing every component of the closing and vaulting process. Highlights of OneSpan’s Vault for Mortgage and Lending:
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- Accepts e-signed records from OneSpan Sign and other e-signature systems
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- Ideal for use by lenders, document custodians, servicers and investors
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- Supports transfer of ownership and location
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- Administration console for managing, pooling, searching and auditing electronic records
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- Authoritative copy is stored in its native format
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- Support for multiple e-vault databases on a single registry, allowing segregated storage for multiple lines of business
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- Supports the TOLEC standard for vault-to-vault transfers
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- OneSpan is a MERS- and Fannie Mae-approved eMortgage technology solution provider
Together with OneSpan Sign, OneSpan Vault enables the signing and closing of loan packages. This includes receiving and securely storing final documents and audit trails, managing and tracking the ownership and chain of custody of documents throughout the lifecycle of the loan, and transferring notes and contracts to other funding entities.
