The new updates enable borrowers to monitor their loan application
Mortgage software company Calyx has made some enhancements to its point-of-sale (POS) platform, Zip.
Calyx added new features to the platform that would make the loan process more transparent, including the ability to upload documents and an interactive dashboard where borrowers can monitor their loan application’s progression.
In addition, administrators of the platform can activate the document-upload feature to enable borrowers to upload income and identity verification documents while finishing the borrower interview.
The updated version also includes borrower questions to support HELOC origination, as well as refinance and home-equity options for second homes and investor properties. Borrowers can now also access their loan officer’s contact information by clicking the help icon in the Zip interview portal.
“Research from leading consultants, like the Boston Consulting Group, has found that access to real-time status information is one of the major factors influencing the overall customer satisfaction in the mortgage process,” said Sung Park, senior vice president of development at Calyx. “The latest enhancements to Zip allow loan originators to provide a borrower experience that is transparent, engaging, and convenient. In addition, the enhancements also enable banks and credit unions to add proven, easy-to-use technology to their home equity and investor lending programs.”
