The genesis of the SimpleNexus platform began when Founder and CEO Matt Hansen agreed to a favor for a loan officer family member. Hansen built a simple app over the weekend for his brother-in-law to run loan calculations and include contact info. Within weeks, other originators saw the product and requested their own version of the app to share with borrowers. It quickly became obvious Hansen’s product had true potential to fill a void in the market.
Today, the company is a 100-person organization, signed with 15 of the top 25 lenders. Over 220 mortgage companies and more than 20,000 loan originators nationwide use SimpleNexus.
The platform has enabled these lenders to connect with 1.1 million borrowers and 65,000 real estate partners to produce 5 million loans totaling over $100 billion in volume.
“The enthusiastic adoption by loan originators, real estate agents and loan applicants shows how SimpleNexus is delivering on a market need for a mobile origination toolset that gets more loans to the finish line, faster,” Hansen said. “We are proud to be setting the bar for what a digital mortgage platform should be.”
Cultivating human-to-human interaction between lender and borrower remains a core focus at SimpleNexus.
The platform empowers loan officers to get out of the office and focus on building these relationships, giving them a mobile toolset to take action on a loan anytime, anywhere. Loan officers can view their pipeline, order credit, run pricing, send pre-approvals, and sign disclosures, all on the go.
SimpleNexus is driving real results for lenders in the form of increased loan pull-through, cost savings, and stronger referral partnerships.
In a recent study, SimpleNexus was able to show that loan applications passing through the platform close 20% faster than the industry average. In addition, 800 loan originators who had recently switched to SimpleNexus increased their Realtor connections by an average of 300%, with some LOs increasing these connections by as much as 2000%.
Borrowers using SimpleNexus can begin their home search, run loan calculations, contact their loan officer and Realtor, submit a loan application, securely scan/upload documents, receive loan status updates and sign disclosures — all from their mobile device.
SimpleNexus also provides a unique component for the borrower’s real estate agent. Realtors can easily check on the status of a loan through their SimpleNexus mobile app and receive automatic updates when milestones are reached.
Agents can customize the app to share with their clients. The custom app includes their photo/contact info, home search listings, and other custom links such as reviews or their social media profiles.
With SimpleNexus, traditional mortgage companies can combine the efficiency of technology with the high-touch benefits borrowers receive through working with a loan officer.
This combination is a real differentiator for mortgage companies searching for a strategy to compete with online lenders.
The platform delivers a proven digital mortgage strategy to address the needs of all three stakeholders in the loan transaction.
SNAPSHOT: SimpleNexus is the digital mortgage platform that enables lenders to originate and process loans from anywhere. The company's best-in-class, easy-to-use app connects loan officers to their borrowers and real estate agents to easily communicate and exchange data in a single location throughout the entire loan life cycle. Loan officers can manage their loan pipelines, order credit, run pricing, send pre-approvals and sign disclosures – all on the go.