FBC Mortgage announced its online mortgage application for its wholesale and correspondent division, bringing digital mortgage technology past only retail markets and into the third party origination world.
SimpleLoan.com, FBC’s online mortgage application that takes 8 to 10 minutes to pre-approve a potential borrower, expanded past its retail version and is now functional for the wholesale and correspondent division.
Through the new online mortgage application, clients can upload paystubs, W-2 forms, and bank statements securely to the site.
Brokers can also use it to co-brand their SimpleLoan.com application.
“In addition to SimpleLoan.com being extremely user friendly, it’s also accessible on any kind of device and is 100% mobile responsive,” said FBC Chief Information Officer Dan Herbon. “Customers want accessibility, ease, and transparency when it comes to the loan process. The TPO SimpleLoan.com accomplishes all those things while giving the customer the best service possible.”
Quicken Loans launched Rocket Mortgage, the lender’s fully online mortgage, a little more than a year ago and is often credit with bringing technology to the forefront of the industry’s attention. And since then, a steady stream of lenders has revealed their digital mortgage products.
Only recently did digital technology make its way past retail lending and into correspondent and wholesale lending.
Back in March, United Wholesale Mortgage unveiled its own fully digital mortgage that brokers can offer to their borrowers. The offering is called BLINK, which stands for “borrower link,” and according to the United Wholesale, it allows mortgage brokers to be on an even playing field in the digital mortgage space.