Running a successful mortgage company requires more than just handing out loans and managing payments – you need to have a secure, organized system that allows customers to access the necessary documentation quickly and efficiently.
Documentation collection is one of the most tedious parts of mortgage processing. It can hold up the loan process and even cause loan denials if you aren’t careful. Keeping track of paperwork can be overwhelming as it is, but try doing so with hundreds or thousands of borrowers in your database!
Even with a human mortgage processor, there are only so many hours in the day for him/her to get the work done. A processor does more than collect documents too, which means he/she needs to multitask to get everything done on time, but sometimes it’s too much even for the best processor.
If too much time passes or clients just give up, it can leave you with unclosed loans in your pipeline which means a loss of revenue.
Having an effective mortgage document portal solution will ensure that your organization consistently delivers quality customer service while streamlining processes to increase efficiency. Read on for more information about why having a sophisticated mortgage document portal should be part of your overall business strategy.
A mortgage document portal answers these problems and more, making it easier than ever to not only keep track of your client’s documents but keep their information secure too. A client portal for mortgage documents makes life easier for everyone by simplifying the mortgage process and getting all documents where they need to be on time.
What is a Mortgage Document Portal?
A customer portal is a secure digital access point. This may include access to an organization’s network, community forum, customer data, knowledge base, and/or other information.
Customer portals are frequently used by businesses as a central hub for information sharing with their clients. Usually, a web browser or a mobile application is used to access these portals. Customer portal software, which enables customers to securely log in and access data, files, and online services, power customer portals.
Why you should utilize a secure client portal?
Email was the main form of business-to-consumer communication in the early days of the Internet. An email is a useful tool, but customers can’t get critical information like account information or status updates for active support tickets right away.
As a result, individuals must contact the business if they need this information, which adds to the workload of account managers and customer care representatives. As a result, many businesses use a secure client portal to give their clients greater options. Customers no longer need to contact your business in order to access the information they require thanks to the client portal.
Things that will improve my experience of sharing documents using a secure document portal.
Managing documents securely is essential in many business settings especially those who handle legal and personal documentation of their clients such as accounting or law, so it is important to take measures that will help ensure successful transactions.
Sharing documents online is a great way to collaborate with colleagues and clients, but the process can often be overwhelming. Luckily, there are several techniques that you can use to ensure your experience of sharing documents using a secure document portal is easy, secure, and efficient.
Are emails a secure file-sharing solution?
We’ve all been lost in an email trail a time or two. When you’re talking about a client’s mortgage documents, that’s the last thing you want. There are ways to use email and save time like having email templates on hand but every second is valuable when it comes to purchasing a loan.
When documents get lost in the email trail, it causes a loss of production as your staff spends time chasing the missing documents and following up. What happens when you and your team can’t access files? or When clients don’t receive your emails? They have no idea that you’re waiting on more documents, which leads to more time lost and less productivity.
With a mortgage document portal, there are no large email trails to get lost in or as many follow-ups to do. Everyone stays on the same page – clients know what documents you need and you know right when they send them. You’ll gain productivity back and maybe even do more business.
Also when you are using client portal software most of these tools help automate other processes, such as follow-up emails, so the financial team doesn’t have to keep sending reminders or calling the customer to complete the process, all this thanks to a client portal software.
Protect Client’s Private Information (secure document portal).
In today’s digital age, protecting private information is more important than ever. That’s why it’s crucial for businesses to invest in a secure document portal or client portal, that will keep confidential data safe from cyber threats.
Sharing financial documents via email is risky. There’s no guarantee of privacy or security. If a document gets lost in the email shuffle or someone else sees the email, the sense of privacy is lost.
A client portal for mortgage documents with proper encryption and security measures ensures privacy on both ends – borrowers and lenders. Not only does a secure portal protect your client’s personal information, it also gives them peace of mind knowing that their data is being handled with the utmost care. A document portal that has the latest security features, such as encryption and multi-factor authentication, can help protect sensitive information during transmission and storage. By prioritizing data security, businesses can build trust with their clients and maintain a positive reputation in the community.
With a client portal, you can get Faster Processing.
The key to success in the lending business is speed. The faster you can process loans, the more you can do in a given month. Time is money. The more loans you can process quickly, the more loans you can do in a month. When you don’t have to spend time chasing documents, calling borrowers, and resending requests, you’ll have more time to process more loans.
This is where a client portal can really come in handy. With a client portal, your borrowers can upload all necessary documents and information directly, saving you time and hassle.
No more chasing down missing paperwork or waiting for borrowers to respond to requests and send documents. This streamlined process not only saves you time but can also boost your bottom line. With more loans processed in less time, you’re sure to see a positive impact on your profits.
This means a larger bottom line – who doesn’t want that?
Get the important documents you need with the help of a client portal.
Requests can get lost in translation in an email message. Whether the borrower doesn’t understand what you need or misses the email altogether, it causes a delay in the entire process. With a mortgage portal, you can describe exactly what you need and have the client upload it in the same section.
This eliminates the confusion of what people see and/or interpret. You’ll get the right documents the first time, eliminating the back-and-forth communication that happens when the wrong documents exchange hands.
Send Automatic Thank you Notes
Clients want to know their documents were received, especially when they share sensitive information like their tax returns and bank statements. Taking the time to call clients or even write an email takes away from other tasks.
Instead of getting sidetracked with every document you receive, stopping what you’re doing to let the client know you received it, a mortgage document portal can automatically send the email to you. This way you and the client are on the same page and no one lost time.
This is how you choose the best client portal for your company.
A can come client portal in a wide variety of forms, ranging from products that solely concentrate on centralized communication to software with independent modules that let you set up a full help desk solution. A client portal varies not only in its structure but also in terms of the audience they are intended for.
For instance, the appropriate client portal for an e-commerce business or B2B technology supplier is considerably different from the one required by a professional services firm. It helps keep things easy because there are so many variables that define the best gateway for your team.
Ready to Secure your Mortgage Documents with client portal software?
If you’re ready to try a client portal for mortgage documents, you have only a few options. File Request Pro provides everything you and your clients need to ensure a seamless process. You’ll get security, clear communication, and productivity back.
Say goodbye to the days of lost loans because too much time passed or not enough documents were received. With File Request Pro, everything is handled with the highest level of security and utmost ease so everyone is on the same page and your loans close faster and easier than ever before.
