Loan Origination Process Too Slow? Here’s the Solution

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The loan origination process is too slow. Bankers are only now coming around to digital forms; the underwriting process is time-consuming, and, let’s face it, borrowers aren’t happy about it. The digital world has left the mortgage broker industry behind, and we think it’s time to get caught up.


According to the Mortgage Broker’s Association, speed will be one of the top industry trends in 2020. Today, every industry is about speed, and the loan origination business will need to catch up. 


We must take full advantage of technology advancements. As borrowers become more aware of the capabilities of their smartphones and tablets, they will question why their origination process is taking so long, and why there isn’t an app for that!


Wemlo has experienced this pain point for MLOs first hand and has created the first all-in-one digital mortgage processing platform. Quite frankly, there’s nothing else like it on the market. 


Providing MLOs the digital platform to scale their business 

How efficiently does your loan origination process function? How much time have you spent running DU and LP? Is your process fragmented? Are you able to use a single tool to get to all of your necessary documents and status updates, or are they spread out across multiple pieces of software?


A more straightforward process would be to use an innovative platform with features that assist you in your workday, such as:


  • Scenario Help Desk: An incredibly innovative tool unlike anything on the market that offers rapid answers to your issues—you’ll wait a maximum of 4 business hours
  • Communication: Complete and transparent copies of all correspondence placed right on your dashboard
  • Qualifications: Generate qualification letters right inside the platform
  • Estimates: Generate loan estimates right inside the platform
  • Pricing: View pricing and lenders in list form


Wemlo has taken the loan origination processing function and wrapped it up inside of a software solution. 


We want speed in the loan origination process too!

Just as borrowers and brokers want speed, we want speed, too. Wemlo can outperform any techology in the market because we are a robust platform. We built Wemlo from the ground up, to be the leader in our class, without depending on third parties. 


We are continually releasing updates and upgrading our platform, and we do so because we listen to our users and gain feedback. And since we built our own platform, we release updates at a rapid pace. We think of ourselves as a “speed boat” to the industry “cruise liner”. We are nimble and can turn quickly in response to market and technology changes.


Even better: There’s no cost to you

We’ve created this software platform because we’ve been studying the pain points of our industry for two decades. Things have moved along at a snail’s pace, and we wanted that to change.


But we didn’t want to create yet another expensive app—there are plenty of other companies out there trying to get into your business’s pockets. So we make our software available to you at no cost. No sign-up fee or monthly service fee. We only get paid when you get paid: when a loan closes. The fee paid to us comes directly from the borrower, built into their loan.


So we simplify your workload, speed up your loan origination process, and we do so without a dime coming out of your pocket. Need we say more? Schedule a demo today to see just how Wemlo can revolutionize your business!