Industry News

Mortgage broker Web sites debut

Promise faster closings, more leads, less paper in home loan process

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Mortgage software and technology provider A la mode today debuted Mortgage XSites Web sites for mortgage professionals during the National Association of Mortgage Brokers Annual Convention in Salt Lake City. The Web sites feature business tools and aim to generate leads, cut paperwork and help close loans faster. Mortgage XSites' "DirectFax" feature converts borrowers' faxed tax returns, pay stubs or any other paperwork to digital files. Borrowers use an automatically generated bar coded cover page to accompany faxed paperwork to a toll free number. Fax servers read the barcode, save the fax as a PDF, route it to an online loan folder, and e-mail it to the broker or loan officer, who is also notified by cell phone text message. "FlexApp" online 1003s give small offices and single mortgage brokers the online application functionality of big lenders' sites. The 1003 file imports directly into any loan origination software, without retyping. FlexApp can also fax offline clients a pa...