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Mortgage Tech Rundown: Angel Oak Mortgage Solutions, IndiSoft, and SimpleNexus

The latest in mortgage and real estate technology

Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements.

Angel Oak Mortgage Solutions, a national wholesale and correspondent non-QM lender, announced the launch of a new solution that is designed to enhance the speed at which loan officers determine a borrower’s eligibility for non-QM loans.

The tool, QuickQual, which is powered by LoanScorecard, delivers loan eligibility decisions within a matter of minutes, therefore reducing turnover time. Moreover, the automated underwriting system instantly produces a loan eligibility report that is sent directly to an appropriate Angel Oak account executive.

“Customer service is in our DNA, integrating QuickQual shows our dedication to client satisfaction,” said Tom Hutchens, executive vice president of production at Angel Oak Mortgage Solutions. “We realized right away that we couldn’t use an off-the-shelf solution. That’s why we spent the last 18 months working collaboratively with LoanScorecard to develop a custom solution that elegantly addresses the LO’s need for speed and confidence and, at the same time, aligns with our world class AE expertise.”

 

SimpleNexus, a developer of a digital solutions for the mortgage industry, released three new tools designed to help originators build stronger relationships with their borrowers’. The new additions provide its customers with integrated home search, co-branded mobile applications and a kiosk mode that is designed to turn prospects into mutual customers.

The company said in press release that its integrated home search showcases available properties within the SimpleNexus borrower app and its kiosk mode allows loan originators to digitally collect loan applications at open houses and model homes. Additionally, the company said its co-branded mobile applications will enhance borrower experience and make mortgage calculators and other tools readily available for Realtor partners.

“SimpleNexus is dedicated to making the home loan process efficient, portable and pleasant for loan originators and borrowers alike,” said Ben Miller, COO of SimpleNexus. “A crucial part of delivering that great borrower experience is making sure the borrower’s Realtor has tools that simplify home search, streamline communication and provide instant loan status insights — and that’s just what we’ve done with this toolset.

 

IndiSoft, a software development and product company, announced it has improved automation of its RX Office Quality Control platform by integrating optical character recognition capabilities into its technology.

According to a press release, the platform can now recognize and sort key origination and servicing documents, as well as extract data and automate the completion of test plans. By improving these functions, the company aims to increase efficiency and dramatically reduce expenses in the quality control and compliance audit processes.

“Our technology will help all mortgage companies experience unmatched efficiency and quality in satisfying the ever-increasing regulatory compliance demands from federal, state, investor and internal audit sources,” said Hans Rusli, IndiSoft’s chief executive officer.

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