Multi-Language Mortgage Application Software
Today, the average mortgage loan takes 49 days to close. Blame these underwriting delays on missing paperwork, credit disputes and other delays that can significantly lengthen the underwriting process. However, at the root of most delays and unexpected issues in the mortgage process are communication issues. As a loan officer at a bank, you're familiar with the fact that your clients don't complete mortgage applications on a daily basis. Even when a client is a native English speaker, the complicated nature of home financing is conducive to errors. When a client's first language isn't English, the risk of errors can be exponentially higher.
Making Error-Free Mortgage Apps Easier
Instead of having to pay for translation or make English-as-a-second-language applicants fill out an application in English, software can now make the process much easier than ever before. It's as simple as sending a link to a client, who can fill out the application in their native language via simple updates to their browser setting. PerfectLO makes it possible for loan origination staff to view answers on the questionnaire and the application checklist in English.
Automatic translation can be a powerhouse tool for error reduction in the mortgage industry. With a private-labeled app that carries your organization's branding and logo, your clients can access secure and convenient online application materials in the language they're most comfortable with, while reducing the rate of language-based errors and confusion.
Streamlining the Mortgage Application Process
In addition to the benefits of automated translation for English-as-a-second language applicants, PerfectLO can revolutionize the way your organization works with applicants. With automated fact finding, you'll never deal with inaccurate info or simple errors that lengthen the process again.
The mortgage process is complex, but it doesn't need to be difficult. With the help of a private-labeled software for secure online application, you can increase the rate of accurate, complete applications submitted the first time and eliminate all of the challenges associated with English-language based confusion. You'll never have to pay for translation or engage in inefficient back-and-forth again.
To learn more about how PerfectLO can increase efficiencies and streamline the mortgage application process for borrowers and loan originators, contact us today; firstname.lastname@example.org