“We have been refining the portal, and we’re getting very close to releasing it for non-QM customers, available now for our Prime customers,” Fisher said.
“Through this unique system, the mortgage broker can manage the entire process for uploading the loan, pricing, disclosing in minutes, ordering their appraisal, locking in their rate, viewing all their fees, uploading their conditions, reviewing their disclosures, and managing the entire process from start to finish in one easy location,” Fisher explained.
When comparing the lounge to other similar systems with outside agencies, Fisher is confident that LoanStream’s centralized mechanism outperforms on several levels.
“Our technology is very tight, very succinct and efficient. Brokers can literally drop a loan in and have it disclosed in a matter of minutes, not hours, not days, minutes. And it’s quite extraordinary,” Fisher stated.
“You see some of the bigger players in the agency world that have put similar technology out there for a little while now. But to see it for non-QM is exciting. We think it is going to be a game-changer. It just makes the entire process better for everyone,” Fisher concluded.