The new app also alerts loan officers about incorrect information to prevent errors
Blend has announced the release of an application that lets loan officers guide borrowers through the mortgage process.
Blend’s Pre-approval Builder also helps loan officers with their checklist of tasks and notifies them about missing or incorrect information in real time to prevent errors.
Additionally, the guided application workflow also:
- Pulls credit and reviews liabilities and monthly expenses to calculate DTI in real-time
- Views relevant products and rates through direct integration with pricing engines
- Estimates closing costs with direct integration to fee sources
- Runs scenarios through AUS to determine eligibility
- Generates and sends a pre-approval letter to the borrower and/or real estate agent
- Enables loan officers to serve customers through any channel
“Our mortgage loan officers are able to get members pre-approved in a fraction of the time as before,” said Randy Hopper, senior vice president of mortgage lending at Navy Federal Credit Union. “This has given them more time to serve members as a trusted advisor and less time on the mundane work behind the scenes.”
