Zillow unveiled a new look, tools and features to its Zillow Mortgage Marketplace app for iPhone and iPad.
The app is now the first and sole mobile app to provide mortgage holders with details, information and loan quotes for the special underwater refinancing programs such as the Home Affordable Refinance Program and FHA Streamline Refinance, according to Zillow (Z).
These loans were previously only available on Zillow Mortgage Marketplace on the desktop or by contacting an individual lender.
"More than one-quarter of homeowners with a mortgage are in negative equity, so easy access to programs that can help them refinance is essential," said Zillow Mortgage Marketplace Director Erin Lantz.
Lantz added, "We often hear stories of underwater homeowners who get discouraged because one lender told them no, or because they couldn’t afford the fees associated with a particular refinance quote. The beauty of the mobile marketplace environment for homeowners is that they have access to hundreds of competing lenders, right in the palm of their hand, who may be able to help within seconds. It is imperative that homeowners not give up in their quest to refinance."
According to Lantz, nearly 14.5 million loan requests were submitted through Zillow Mortgage Marketplace over the past year.
Additional features and enhancements added to the app include a new landing page and home screen, new quote detail page, new rate chart, expanded lender profiles and redesigned calculators.