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AFR Wholesale announces partnership with Floify

New partnership could reduce loan processing time by 15 hours per loan

AFR Wholesale and Floify shook hands on a partnership, and AFR will now use Floify’s point-of-sale technology.

“Since the inception of our wholesale division over 10 years ago, AFR has continually sought innovative ways to support and enhance our partnership with the broker community. We are dedicated to industry-leading technology, personal expertise and education, and a world-class customer experience to our partners,” AFR Chief Operations Officer Bill Packer said in a statement.

“Our commitment to evolving our service offerings by teaming up with leading mortgage-tech providers, like Floify, will only enhance the success AFR’s brokers will achieve,” Packer added.

AFR’s goal in partnering with Floify, a 2018 HW Tech100 winner, is to reduce origination time and increase broker productivity. According to the release, Floify’s POS platform can save up to 15 hours of processing time per loan.

“Partnering with AFR Wholesale on a Floify integration underscores our relentless pursuit of helping maximize broker productivity and borrower satisfaction with the mortgage process,” Floify CEO Dave Sims said in a statement.

“Our partnership with AFR not only shows the benefits of a streamlined loan origination process but highlights the incredible potential of an all-digital mortgage operation,” Sims added.

This is only one of an ever-increasing number of companies partnering with software companies or developing their own tech solutions in hopes of increasing productivity and getting some breathing room in the margin department in this tough mortgage market.

Recently, Mortgage Bankers Association Associate VP of Industry Surveys and Forecasts Joel Kan predicted that an impending surge in wage growth and softening in home prices could lend the purchase market a much-needed boost of 3% to 4% in originations.

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