Fintech software and hardware company Mortgage Automation Technologies, Inc. announced on Monday that it has integrated its next-generation point of sale system, The BIG Point of Sale, on the latest API Platform available through ICE Mortgage Technology, a division of Intercontinental Exchange, Inc.
The goal was to create a configurable and robust Point of Sale to Loan Origination System integration, according to a press release from the company.
“Built by the people that use it every day, The Big Point of Sale was designed with the consumer in mind and the mortgage professional at heart. The Big Point of Sale gives the freedom of mobility to our users; originators can be in touch with every transaction from virtually anywhere,” Matthew VanFossen, CEO of Mortgage Automation Technologies, said.
The BIG Point of Sale features an Encompass integration with an interface module that enables a loan to deep link from The BIG Point of Sale web portal directly into the Encompass loan file from a mobile device.
The Encompass Product & Pricing Service integration focuses on the originator’s mobility by building a web interface module that allows the loan officer to access rates on current loans or new scenarios from their mobile device.
The POS system technology includes a mixture of consumer and origination portals in multiple formats, such as web landing page, mobile application, and kiosk, and uses the ICE Mortgage Technology API Platform to provide a unique single point of truth database architecture. This eliminates the need for a secondary loan repository outside of Encompass by ICE Mortgage Technology.
Originators can use the BIG Point of Sale system to monitor and adjust loan files from their mobile devices, including generating pre-approvals, and the web interface module allows the loan officer and consumer to electronically sign loan disclosures and closing documents from their mobile devices.
The onboarding and contract process are designed to minimize upfront costs by using a customer self-service implementation process, according to a press release about the integration.
In addition, the BIG Point of Sale offers a mixture of software and hardware solutions with its kiosk product line.
“Our industry is going through some interesting times. During these times, making sure you partner with the right companies will be the secret to success. Companies that enable cost control and increased functionality will thrive. Mortgage Automation Technologies, Inc., who has delivered The Big POS, has been that partner for First Option Mortgage (FOM),” Alvin Shah, managing partner of First Option Mortgage, said.
The solution will be delivered through loan originator and consumer web portals and mobile applications, as well as hardware kiosk devices.
Mortgage Automation Technologies, Inc. is a fintech software and hardware company that designs, develops, and integrates web-based solutions.
ICE Mortgage Technology combines technology, data, and expertise to automate the whole mortgage process, from consumer engagement through loan registration.
This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.