Mortgage technology provider SharperLending LLC introduced data integration between its Appraisal Firewall real estate appraisal software and SimpleNexus, the digital mortgage platform that enables lenders to originate and process loans from anywhere, to speed loan processing by keeping financial institutions continuously updated via mobile devices on the status of all valuation orders placed in Appraisal Firewall. The goal of the integration is to continue to push the lending process further into the mobile age for loan officers, processors, borrowers, Realtors, mortgage partners and any additional parties that need to know current loan progress, the company announced in a release.
As appraisal orders placed in Appraisal Firewall move forward at any point, users of the SimpleNexus mobile app will receive a push notification at each turn, in real time, the company said.
Notifications sent to all parties help to quickly identify slowdowns caused by required manual user interaction and help maintain the momentum of moving the loan toward closing. The integration also assists in keeping loan processing digital and automated.
“The days of sifting through a sea of emails to see if the inspection has been scheduled, if access to the property is limited, or the appraisal has been delivered are gone,” SimpleNexus CEO Matt Hansen said in the release. “Lender updates will be instantaneous, which brings their lending office increased efficiency right to the palm of their hands.”
SimpleNexus unites loan officers, borrowers and Realtor partners into a single platform to deliver a complete digital mortgage strategy with proven results.
“In today’s mortgage world, the digital customer experience is key to all the decisions we make,” First Heritage Mortgage’s Phil Denfeld said. “Our decision to partner with SimpleNexus was driven by their ability to provide a mobile experience for our clients, their Realtors, and our loan officers.
“The integration of Appraisal Firewall with our SimpleNexus mobile app provides appraisal status throughout the loan process, adding value for all parties involved and eliminating the frustration that comes from a lack of active transparency,” Denfeld added.
SharperLending, LLC founder and CEO Dave Black noted the “pipeline for communication” will expand and expedite with this integration, and cited an example.
“If an appraisal comes back under value and the borrower needs to come up with cash to cover LTV discrepancies, lenders and their Realtors and borrowers can know right off the bat instead of finding out later and having to scramble at the last minute,” Black said.