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Once you have a signed purchase contract on a home, my big data loan approval system kicks in. My team and I have built a technically advanced loan approval system that uses big data and secure integrations to streamline the loan approval process, eliminate paperwork, and close document requests (aka conditions) to quickly and efficiently approve your loan.
During this process, there are a number of documents that you are required to execute and sign. Instead of visiting our office or emailing, printing, signing, and scanning documents, our client portal has E-sign technology that allows you to execute from anywhere. This speeds up the loan approval process and saves a few trees.
Assuming you've fully and accurately completed the application and provided me with access to your financial and employment information during the pre-application phase, I'll be able to get your loan approved and closing scheduled quickly.
One of the greatest benefits of my big data system is the availability of appraisal waivers. Appraisals are the long pole in getting your loan closed. If my system determines that an appraisal is not required for the property, you can save upwards of $400 and shorten the closing timeframe by five to 10 business days.
Now you’re ready to close. Here’s the good news – we use E-closings!
Previously, you had to sit and hand-sign a huge stack of documents with your settlement agent. In addition to coordinating an in-person meeting and possibly missing time from work, the process of signing paper documents could take hours! Now, you can E-sign your mortgage documents remotely and securely at your convenience. Again, this saves time and paper and reduces the risk of error.
Stayed tuned for next week's blog (part 3) on "Clients for Life".
You can learn more about Automation and Big data by clicking here.