Do you own a fax machine? Spend most of your time standing near a desktop printer? Enjoy watching urgent calls and emails go unanswered?
Neither do I. But, if you are using a mortgage loan to buy a home, that’s what it takes to manage the dozens of steps between pre-approval and picking up the keys.
Unless...your lender uses Easy Mortgage Apps, the only mobile-first software platform where borrowers, loan officers and realtors communicate, share docs, upload info, and keep a close eye on your in-process loan.
The end result? Happier home buyers, more on-time closings, and less friction between people who don’t have the bandwidth to spare.
Boston-based EMA rolled onto the scene in 2014, when founders Paul Mignone and Michael Kelleher—both financial industry pros—saw the gap between today’s mortgage technology and borrowers’ expectations to use smartphones in the home buying process.
Think you can text your loan officer with an urgent question? Think again. Any important communication between a loan officer and a borrower must, by regulation, be carefully recorded. Until now, this kept most borrower/loan officer interactions trapped in outmoded and unconnected channels like VM, email, and yes, even fax machines.
EMA leveraged their industry expertise and a top-notch tech team to lift the cloud of confusion and take home loan process mobile. Today, they serve more than 100 banks in cities across the country with their white labeled product, the newest version of which launched in October.
Here’s a sample of features offered on EMA’s mobile platform:
- Provides information and details about loan status at a glance, all in one place
- Utilizes FULLY compliant push notifications for important milestones (appraisal, approval, rate lock, closing date, etc.)
- Mobile Capture Technology for securely uploading required documents for approval
- Integration with existing loan origination systems and/or CRM
- Borrowers can view and download on-demand loan documentation (appraisal, approval, closing docs, etc.)
- Instant, direct connection with referral source or real estate agent through messaging, notifications, and loan information sharing
- Ability to provide access to others associated with the loan (i.e., home inspector, appraiser, home insurance agent, escrow, title company, closing attorney)
Why are banks excited to work with EMA? Because EMA offers a proven, branded mobile solution for a fraction of what it would cost them to develop internally. Better communication among all parties delivers faster closings with no surprises and improves relations with referral sources and real estate agents. Most importantly, EMA saves valuable time and money for loan originators.
EMA has offices in Boston, Providence and Chicago. Stay tuned: we expect great things and so should you!