TheMReport — News and strategies for the evolving mortgage marketplace.
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FEATURE ORIGINATION use of the technology across indus- try verticals beyond origination." In working to generate the newest, next-gen technologies, industry providers are gravitating toward platforms that put the "smart" in smartphone by focus- ing on apps. And while numer- ous app options exist, there are market leaders that are emerging as game-changers in the mort- gage industry. (see below) The only downside to the app trend? Today's movers and shakers now have additional reasons to stay glued to their smartphones. We can't blame them, however, since current technology options mandate immediate responses, and mortgage professionals are expected to find the balance between accuracy and expediency. So as the phrase "don't just do it; do it right," is evolving into "don't just do it; do it right now," originators can turn to a depend- able ally—technology providers. Because thanks to their efforts, the two goals are no longer mu- tually exclusive. Top Industry Apps Putting the "Smart" in Smartphone: Today's movers and shakers now have five new reasons to stay glued to their smartphones. 1. MBA'S HOME LOAN TOOLKIT Finally, consumers can get all the info they need on a loan purchase—from up-to-date rates, to how much house they can afford, to a glossary of tough mortgage terminology. "MBA has long supported increasing understanding of and transparency in the mortgage process," says MBA President David H. Stevens. "This free application will help borrowers better navigate the mortgage process and understand their home financing options." 2. TICOR TITLE'S POCKET PROFILE Need to research a property on the fly? This free app provides real-time data on any address, from tax info and transfer history to comparables and a plat map. If you have an authorized account, you can even pull existing docs on the property. (Look for similar mobile programs from Zillow and Quicken, among others.) 3. ISGN'S APPRAISAL TOOL Bye-bye, voice recorders, notebooks, and cameras. Travel lightly in the field and gather all your appraisal info with this upcoming app, which works seamlessly with ISGN's Gators settlement services and vendor management system. "With the app, appraisers don't have to come back into the office to accept or deny appraisal orders, greatly enhancing productivity in the field," says the firm's tech solutions director, Ankush Dham. 4. ERNST'S CUSTOM CLOSING COST APPS Title companies and brokers, take note: You can now have your own branded app to generate guaranteed or estimated cost info with your agents at the point of sale. "Providing this information to consumers earlier in the process has proven to be key to improving the borrower experience, a top concern for our clients and everyone involved," says Ernst Publishing CEO Greg Teal. 5. ON THE GO'S MOBILELO Tech firm On The Go Technology makes it possible to check an applicant's credit, collect e-signatures, generate estimates and disclosures, and fill out a 1003 "at a bar, a baseball game, or at 10,000 feet in an airplane." For a monthly fee, you upgrade the free app's features. Depending on your setup, "mobileLO can replace your loan origination system," the firm's site boasts. THE M REPORT | 45 ORIGINATION SERVICING ANALYTICS SECONDARY MARKET