Today IDS has teamed up with one of our strongest technology customers 360 Mortgage Group. Over the past couple of years IDS has found that 360 uses technology to better their customers experience throughout the loan process, making it understandable and manageable for the borrower as well as the loan officer. 360 has seen the advantages that technology gives them making them a strong competitor in the warehouse lending environment and in the mortgage industry during this time of crisis. Today IDS and 360 Mortgage Group’s Professional Blogger and Content Writer, Amy Elms, have teamed up to explain how technology has helped their customers through this time in the mortgage industry:
360 Mortgage Group: Committed to Helping Customers through Innovative Forms of Technology
It is not unusual for the mortgage industry to be considered an outdated industry that still exclusively operates with the use of archaic paper documents and never-ending phone calls that leave customers on hold. Fortunately, with companies like 360 Mortgage Group though, more customers than ever are now moving through the loan process at a faster rate.
Soon after opening 360’s doors in 2007, Mark Greco, President and Owner of 360 Mortgage Group, decided to enlist the help of Chief Operating Officer, Andrew WeissMalik, who had held previous positions within mortgage technology development. WeissMalik chose to license his own company, On The Go Technology, to 360 and since then, 360 has been able to successfully create innovative, applicable forms of technology that have also inspired other mortgage companies to follow suit.
One technological feature that 360 prides itself on is its Online TIL Generator, which allows brokers to instantly order appraisals and only requires a minimum amount of document fields to be completed by brokers. As a result, the Online TIL Generator speeds up the closing process and reduces client liability on failed loan applications.
Another standout feature of 360’s is its live underwriting chat feature, which allows customers to connect with a member of 360’s underwriting support team, receive immediate answers to questions, and have the online conversation documented and emailed in its entirety to customers upon conclusion of the chat session.
As our country attempts to make its way out of a rough time in our economic history – a time that has particularly affected the housing market – 360 Mortgage Group is taking upon itself to utilize technology in a way that will have the most positive effect on the market. Updated RESPA guidelines have made it difficult for borrowers to obtain a mortgage, but 360’s streamlined, paperless application process is enabling customers to get loans approved in a fraction of the time, thus improving individuals’ abilities to take on homeownership and improve the market as a result.
360 hopes to continue devoting its time to creating new ways of using technology that will help customers even more in the coming years. As 360 Mortgage Group says in its company tagline, the mortgage bank is truly committed to making its brokers look good!