Loan officers operate on a flexible yet demanding schedule that requires 24/7 availability to communicate with applicants at any point of the day, including evenings, nights and while they’re on the road.
In order to perform tasks such as product and pricing searches, loan officers leverage their Loan Origination System (LOS).
However, these systems are often dated and not mobile-friendly, requiring the LO to be in front of their computer at all times.
Additionally, in instances where loan officers must perform a product and pricing search directly with their PPE provider, they are required to re-enter data to get results while on-the-go.
These frustrations lead to unnecessary inefficiencies in the loan process, including slowing down the process even as the industry is actively working to streamline it.
To solve this, Roostify has combined the numerous tasks required of a loan officer into one single system, Roostify Product Selector for lenders.
The Product Selector platform enables loan officers to quickly and easily provide product and rate options to borrowers at any point in the process, without having to move between systems or re-enter data.
An exciting benefit is that product options can be discussed with the customer when and wherever they choose to meet. As the platform is completely mobile-optimized, the right product can be selected and saved to the loan application for future reference.
This is another major milestone to liberate loan officers and a significant step to advance a customer-centric lending model.
Once loan officers have discussed product options with the customer, they can select the best-fit product and save it to the loan application for future reference.
“As we reinvent lending, our platform provides loan officers with access to core capabilities in one system, wherever they choose to work,” said Roostify’s Senior Director of Product Management Gareth Lloyd-Owen.
Through Product Selector, loan officers have the ability to take new leads and respond at a faster rate to new loan applicants who require product and rate quotes, as well as estimated monthly payment options.
This provides loan officers the flexibility to leave their desks without slowing down the loan process.
Product Selector is designed to increase loan officer satisfaction as well as customer application conversion.
The platform makes it easier for loan officers to quickly respond to applications and provide the available product terms their customers need to make informed decisions about moving forward.
“We continue to transform the consumer lending architecture and focus on the intersection where customers and loan officers mutually benefit. Essentially, we deliver an experience where everyone wins,” said Roostify’s Chief Marketing Officer Courtney Chakarun.
PRODUCT: Roostify Product Selector for Lenders
SNAPSHOT: Product Selector allows lenders to connect their existing Product and Pricing Engine (PPE) with the Roostify digital lending platform. Loan officers can search and select a product based on the applicant's requested loan scenario.