While mobile applications have become increasingly present in the originations segment of the mortgage industry, they're now making their mark in the servicing space.
Fintech company and national lender and servicer The Money Source has launched the TMS Happinest Mobile app for its Servicing Intelligence Made Easy platform with the intention of providing a total homeownership experience for its customers.
Though borrowers may be able to access their mortgage documents through their company's core banking app, this marks another avenue of communication and transparency between borrowers and their servicer specifically, which could signal more mobile apps to come for the servicing industry as the industry heads in a digital direction.
"We have a vision that customers should be able to interact and communicate with us in all imaginable ways as it relates to homeownership, and this app is the centerpiece for that. From this vision and foundation, we built an app that can meet our customers on their terms and equip them with the tools and resources they need for a happy homeownership experience," said TMS President Ali Vafai in a press release.
Through TMS Happinest Mobile, clients can directly communicate with their servicer through messaging, online or by phone.
Version 1.0 of the app allows customers to access their account information, view statements and transaction histories, and pay their mortgage. App users will also be able to upload and submit loan documents.
"We want to set the new standard for how borrowers should be digitally communicated with for the life of their loan and make it a joyful experience well beyond the closing table," said Vafai.
"This latest tech installment comes on the heels of our total homeownership platform Happinest and proves to our members that we will stand by our promise to grow happiness through game-changing technology and outstanding customer service," he said.
Versions 2.0 and 3.0 of the TMS Happinest Mobile app will be rolled out with new features and updates throughout the year.