SLK Global Solutions, a leading provider of comprehensive products, solutions and services driven by technology for the banking, mortgage and title industries, has launched SmartLendEx, an easy way for lenders to extend their loan origination efforts into the mobile space. The tool accelerates the origination process by bringing multiple stakeholders such as Realtors, borrowers and lenders onto a single mobile platform, significantly reducing loan cycle time and origination costs, the company’s release said.
The company will be providing more information about the new offering at the MBA's National Technology in Mortgage Banking Conference & Expo in Chicago, IL. This will enhance the customer’s experience and reduce the time to fund by 8 days.
"Success in today's purchase money market requires the lender to meet the Millennial homebuyer where they are, and that's mobile," SLK Global Solutions Senior Vice President Tim Moreland said in the release. "The loan origination technology in use today is perfect for originating from the branch or call center, but it does not extend well into the mobile space. SmartLendEx solves that problem and puts all significant parties to the transaction in the same mobile space to close loans faster. With this platform lenders can reduce the loan cycle by up to 8 days and boost productivity by up to 15 percent."
In addition to SmartLendEx, SLK Global Solutions also provides automated loan level audits for origination, accurate broker price opinions, residential and commercial tax servicing, property lien and ownership search reports, municipal lien search and property tax reports.
"Having been in this business for more than a decade, we're able to read the market and be proactive," SLK Global Solutions President Alok Datta said. "With the advent of Millennials, technology and automation is the way to go. While some may see this as a challenge, we see it as an opportunity to positively disrupt the mortgage industry.
“With SmartLendEx, we partner with lenders to give them the opportunity to reach over 100 million mobile banking users through our technology. Our suite of products and solutions now empowers us to deliver value across the breadth of our lender clients' businesses,” Datta added.