Quicken Loans Mortgage Services and Calyx Software developed a version of the Point loan origination system that's preconfigured with tools for small mortgage firms to work with the Detroit lender's TPO division.
Digital mortgages transform the customer experience with slick user interfaces and data integrations that streamline the process of getting a borrower hooked up with a lender. Now it's time to disrupt the rest of the process.
For the digital mortgage to reach its full potential, lenders and technology developers still have to solve for the disconnect between the front-end application process and the underwriting work required before a loan closes.
Automated data validations are integral to a seamless digital mortgage experience. But the extent of data exposed in the Equifax breach raises questions about the risk of fraudsters exploiting those technologies to further compromise consumer data.