April 24, 2019.
Too many homebuyers put their dreams on hold because they’re uncertain about what to expect from the homebuying process. These potential buyers are usually concerned about what they need to do to qualify for a mortgage.
Mortgage can look scary at face value, which is why we continue to put our time and resources into designing the latest borrower-friendly technologies. Take our all-in-one mortgage app LoanFly. LoanFly was created to show buyers there’s a better — and easier and faster and friendlier — way to mortgage. Features like 15-minute prequalification*, a nationwide home search, mortgage education tools, convenient access to a private and secure Borrower Portal from anywhere, on-the-fly document upload, on-demand self-generated prequalification letters, and an easy-to-read status bar that shows the whole loan process make this possible.
LoanFly’s newest feature has homebuyers buzzing because it eliminates one of the most unpleasant parts of homebuying: unnecessary paperwork. Asset Connect is an automated, paperless way to verify a homebuyer’s assets. It also helps loan officers and realtors fast-track clients through the loan process.
3 reasons Asset Connect is the new tech tool loan officers swear by
Here’s how Asset Connect benefits homebuyers, loan officers, and realtors in real life:
1. Gives buyers more control.
- For homebuyers. LoanFly Asset Connect can be used to automatically verify your assets when you link your online banking account and authorize Cornerstone’s approved third-party vendor to pull statements. This puts you in control of your mortgage by giving you access to your financials that only your loan officer will see. You have the say-so to push the button to connect your bank account through your secure Borrower Portal, with no extra paperwork needed.
- For loan officers. Using LoanFly Asset Connect to give borrowers more control gives you your time back, time that can be better spent pushing their loan through to a 10-day closing. Once a borrower clicks to connect their online bank account, you’ll have insta-access to their account activity. You and your team won’t have to wait around to collect bank statements.
- For realtors. Like loan officers, realtors can’t help but benefit. Digital is now the “new normal” in lending.** Being able to tell your buyers that they have the capability to instantly add their bank account to their own private and secure Borrower Portal gives you an advantage you may not have when partnering with other lenders.
That feeling you get when you choose the right lane at checkout. Download LoanFly, get prequalified, and breeze through your mortgage.
2. Reduces time spent chasing paper.
- For homebuyers. Because the last thing you need during your home search is to spend hours on hold requesting documentation. Our new Asset Connect feature is another way we make mortgage easy by making it almost completely paper-free. Your mortgage will move along much more quickly now that you can instantly connect and disconnect linked bank accounts in your Borrower Portal. No more hunting down bank statements.
- For loan officers. Eliminating unnecessary paperwork is one of the ways we’re moving mortgage forward. When your borrowers use Asset Connect, you’ll see a noticeable difference in the number of documentation requests you have waiting. Since bank accounts are automatically linked and authorized by the borrower, you’ll also save yourself time wasted on needless errors; getting financial information straight from the source ensures accuracy.
- For realtors. When homebuyers move faster, you do too. With more time available, you can expedite the service you offer to all your clients. Your loan officer partner can easily track your buyer’s connected accounts, quickly check balances and total asset summaries, and pull full bank statements for complete asset verification to reach our ultimate goal of getting borrowers home in 10 days.
3. Offers a higher level of personal protection.
- For homebuyers. Working with a mortgage lender that will never sacrifice security for speed can give you both worlds. Asset Connect is an automated digital shortcut that helps get you home faster. It’s also highly safe. Designed with our commitment to protect our borrowers in mind, Asset Connect keeps your financial information fully secured through your Borrower Portal’s password-protection, plus your built-in security questions.
- For loan officers. Technology speeds up mortgage. It can also give your borrowers peace of mind. Your borrowers will appreciate Asset Connect’s complete security set-up, with identity confirmation needed before a borrower can authorize their accounts to link. Asset Connect is secure from anywhere. This feature syncs seamlessly with our loan officer Tech Toolbox, giving you and your production team the flexibility to manage asset verification on-the-go.
- For realtors. Ensuring client security is another way to ensure satisfaction. Savvy buyers are on the lookout, not just for the latest technologies. They’re looking for the latest tech tools with the built-in security features required to keep their personal data safe. Your clients will enjoy speed, security, and accuracy all in one place, using Asset Connect to bypass one of the most tedious parts of prequalifying.
Digital access is becoming more common in every aspect of getting a mortgage.
Our in-house designed app with its intuitive Borrower Portal and new Asset Connect feature is just one example of how Cornerstone stays ahead of the game. We have plans for major tech updates that will roll out in the next few years – all to maintain our commitment of being a sales support company that gives our loan officers everything they need to close loans on time, every time.
Who said it had to be hard?
Lenders and realtors that offer better digital service have happier borrowers, and happier borrowers are the ones more likely to leave great reviews and tell their friends.** Click here to find out more about how you can use our full Tech Toolbox to improve your borrowers’ lives and build your business. Or, become a Cornerstone Realtor Partner to give your clients access to the latest get-me-home-faster technologies that can make their dreams of homeownership come true.
*During normal business hours.
**”Home Lending Experience Radar 2018: Digital Mortgage 2.0 – A paradigm shift in customer experience.” PwC.
For educational purposes only. Please contact your qualified professional for specific guidance.
Sources deemed reliable but not guaranteed.
You’re receiving this resource from your loan officer, who operates within the lending division of Cornerstone Capital Bank, a full-service financing institution.
Cornerstone Capital Bank is the parent organization that brings together multiple affiliated lending teams, providing shared resources, solutions, and long‑term support to help clients make confident financial decisions now and in the future.