For the most part, the mortgage industry's transaction workflow is inefficiently. The amount of phone calls, emails, and faxes mortgage people manage for a single loan is enough to make anyone's head spin. One perfect example of these inefficiencies are underwriting conditions. Today's loan processors have seen a rise in the amount of conditions their loans are receiving from underwriters.  This is due, in part, to more stringent guidelines put in place to mitigate the risk of mortgage defaults and delinquencies. Processors are charged with the unenviable task of collecting these conditions from customers and vendors to satisfy underwriting guidelines.  In lies the inefficiencies of the mortgage transaction.  Processors make numerous phone calls and send countless emails, only to receive incorrect or incomplete documents in return.  The frustration mounts and the stress heightens, eroding customer service and causing delays. In turn, causing referral sources to become disloyal and potential, repeat business is lost.  Three days late the file is miraculously cleared to close, but the fees are higher and the interest rate has changed, because the lock expired.  In order to save the deal, the loan officer takes a commission hit to correct the rate and fees.  The loan closes.  Tomorrow, the process begins anew.  Sound familiar?  Ever wonder why processors like to go out back and break things?  There is a better way.  

There is a software application available that rids the transaction of inefficiencies by creating a web based, collaborative community. Everyone integral to the mortgage process meets on the web to gather instructions to complete their function and receive loan status updates. The web application automates the entire mortgage transaction.   All customers, vendors, and mortgage personnel within the mortgage transaction instantly know what is needed, when it is due, and when it has been received.  As these milestones are achieved, emails and text messages are automatically sent.  Phone calls for document hounding are a thing of the past.  Stress, frustration, and high blood pressure are replaced with transparency, efficiency, and accountability.  Processors can now take a deep breath and process twice the loans, in the same amount of time.    

For those companies ready to face the challenges of today head on and have vision and understanding of what is needed to succeed in the future, the solution has arrived.  LoanMarq is the web based mortgage tool that streamlines the entire mortgage process.  Never have mortgages more efficiently moved from application to closing.  Never has there been this level of communication, transparency, and accountability inside the mortgage process.  By this standard all service will be judged.  LoanMarq -- The New Service BenchMarq.