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. 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.
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 multi-task to get everything done on time, but sometimes it’s too much even for the best processor.
A mortgage document portal answers these problems and more, making it easier than ever to not only keep track of your clients’ 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.
Here are just a few ways it helps.
Avoid Lost Emails
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. Purchase loans are time sensitive and clients don’t want to wait months to refinance either.
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 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.
Protect Client’s Private Information
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.
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 means a larger bottom line – which who doesn’t want that?
Get the Documents you Need
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 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 side tracked 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 for you. This way you and the client are on the same page and no one lost time.
Are you Ready to Secure your Mortgage Documents?
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.