LendersLogic Introduces Streamlined Smart Application that Self-Adjusts to Borrowers

New Mortgage Application Software Collects Information without Publishing Rates

BOSTON – April 23, 2013 – LendersLogic, Inc. today announced the release of LendersLogic Smart Application v2.0, online mortgage application software that provides a superior user experience while allowing originators to collect data on the web without being required to publish rates or closing costs.

The LendersLogic Smart Application allows the borrower to quickly complete a condensed application in a wizard like presentation with context sensitive help on every question.  Originators are then able to import the application data directly into their loan origination system.  The new solution allows banks and credit unions to more fully manage web site leads.

The LendersLogic Smart Application is different from LendersLogic Consumer Direct in that it does not provide a real time assessment or instant online approval.  Banks and credit unions do not have to publish rates and closing costs with the new option.  This meets the needs of originators whose business methodology requires rates and closing costs not to be published within a mortgage application.

More Completed Applications

The LendersLogic Smart Application self-adjusts for each borrower, automatically adding questions or removing unnecessary items based on the borrowers’ answers.  Unlike static forms or PDF files, the LendersLogic application adjusts automatically to the borrower.  This helps the borrower speed through to completion providing a satisfying user experience that offers no road blocks to the consumer. The result is more completed applications.

“The Smart Application is private labeled with a bank’s logo, images and colors.  The bank has the option to add custom questions to match the way it does business,” said Wayne Howe, General Manager.” Getting started is as easy as adding a new “Apply Now” button to your web site.”

  • The self-adjusting, award winning, Smart Application speeds applicants through to completion in four screens and 8 minutes.  Other features include:
  • Superior user experience that allows borrower to quickly complete an application in a wizard like presentation with context sensitive help on every question
  • E-mail alerts for submitted applications and a back-office sales management area to make it easy to manage the application pipeline
  • A private-labeled interface that matches the originator’s  corporate web site
  • Ability to add custom questions, fields and drop down boxes to meet business requirements
  • Unlimited loan officer sites
  • Option to assign applications to individual loan officers
  • Industry standard FNMA v3.2 data export to all major loan origination systems
  • Safe and secure solution that exceeds government standards for consumer data protection
  • Powerful new Anti-Phishing, multi-level authentication with enhanced password/pass phrase management for complete data security
  • Data encryption of sensitive consumer information
  • Fully compliant with all laws and regulations for consumer data protection.
  • Word Class SOC 2 Data Center providing N+1 optimized connectivity with generator power back up and dedicated 24 hour a day physical on site security
  • Offered as a managed web service, the fast and easy set up allows originators to start taking applications right away

About LendersLogic

LendersLogic was developed to meet the diverse needs of our partners by providing a flexible, scalable, cost effective web-based solution for consumer direct origination.  LendersLogic is a licensed Freddie Mac Technology vendor.   Mortgage Technology Magazine has presented LendersLogic their “Rising Tech Star” award.

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