If homebuyers seek better insight into the status of their mortgage transaction and want to eliminate the hassle of waiting to hear from their real estate agent, loan officer and various settlement service providers, they needn’t roll the dice. Soon, they'll be able to use Loanopoly, a new online home loan tracking tool inspired by the familiar Monopoly game board.Developed by employees of Underwood Mortgage Group, a boutique mortgage lender based in Yorba Linda, California, Loanopoly will allow buyers to upload their loan documents, store them safely and securely, and share them with their loan officer, lender, real estate agent and other settlement service providers.Although Loanopoly was the brainchild of Underwood Mortgage loan officers, it will not be affiliated with the lender. Cornelius said the tool will get a soft launch before the end of February and will be tested on users in Orange County, California, before it expands nationally later this year.Loan...
- Developed by employees of Underwood Mortgage Group, Loanopoly is a new online home loan tracking tool inspired by the familiar Monopoly game board.
- The developers expect the service to improve communication between the various closing table parties, which is often a pain point for real estate agents.
- The tool will get a soft launch before the end of February and will be tested on users in Orange County, California, before it expands nationally later this year.