LenderLogix, a mortgage technology company that focuses on origination solutions, is now leveraging Encompass Developer Connect and is available through ICE Mortgage Technology, part of Intercontinental Exchange, Inc. (NYSE: ICE), giving loan officers the ability to issue adjustable pre-qualification letters directly from Encompass by ICE Mortgage Technology.
QuickQual, an adjustable pre-approval and pre-qualification management platform, allows borrowers and Realtors to run their own payment and closing cost scenarios and generate updated letters on the fly. By empowering borrowers with immediate answers, lenders see an average pre-qual to application conversion rate of 60% and an average return of 40% more time in their day. QuickQual pulls borrower loan information seamlessly from Encompass, eliminating duplicate entry. Lenders set the parameters for each borrower and can see all of the activity once the QuickQual has been shared. These insights keep the lender in the loop and allows them to reach out at the perfect time. QuickQual doesn’t replace the human interaction important to lenders, but enhances it.
“With the cost of pre-qualifying borrowers continuing to increase, QuickQual helps lenders keep the borrower engaged throughout the entire home search so pre-qualifications covert to applications,” said Patrick O’Brien, CEO of LenderLogix. “Our integration with ICE Mortgage Technology helps Encompass users take advantage of this capability without any additional IT integration. We pride ourselves on making implementation a breeze and will continue to offer complimentary 1:1 and group training for all QuickQual users and their referral partners – because we are only as successful as our clients.”
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