prequalification letter

The unexpected ways Cornerstone is moving mortgage into the future: Part 1

Bethany RamosAbout Cornerstone, Home Buying, Homeowners, Industry Professionals, Loan Officers, Realtors, Technology

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April 23, 2019.

There’s a way to get home happy, and it starts with eliminating time wasted. Making mortgage easy has big benefits for buyers, loan officers, realtors, and anyone else involved.

This is why, at Cornerstone, we’re always integrating new technologies. We want to make our loan officers highly mobile, offering them the support they need to take a loan application anywhere. This gives our borrowers the level of care they deserve. It also gives our loan officers and realtor partners back their “me time.”

Our borrowers already love that they can use the free LoanFly app to track their loan status, check their credit report, upload loan documents, and do it 24/7 — all from their favorite device. But one of our new features has been requested by multiple top-producing loan officers around the country, and it lets borrowers have even more say-so.

Now borrowers can get on-demand access to self-generated prequalification letters right from their Borrower Portal. This new technology benefits borrowers, and it impacts loan officers and realtors too.

3 ways our new Prequal on Demand makes mortgage ridiculously easy

Here’s how the new Prequal On Demand feature keeps homebuying simple:

1. More control.

  • For homebuyers. PQ On Demand gives buyers the power to negotiate. You can instantly create your own prequalification letter based on your financial profile and the parameters set by your loan officer to help strengthen your offer on a house. This shows a seller you’re serious, increasing their confidence.
  • For loan officers. Giving borrowers more control gives you back your time when mundane tasks are eliminated. Work takes care of itself, and personal time becomes a thing to be enjoyed. And by offering this all-in-one technology, you could soon become the go-to loan officer in your community.
  • For realtors. Just by inputting their sales price and down payment amount, your clients can use LoanFly to generate their own prequalification letter and add weight to their offer. Buyers with this much control over their mortgage are bound to start buzzing. Our realtor partners rely on the fact that Cornerstone now has one of the strongest Borrower Portal experiences in the industry.

2. More flexibility.

  • For homebuyers. Having more control over your mortgage also gives you more freedom. You can create your own prequalification letters from anywhere — and save time while you do it since no extra request to your loan officer is needed.
  • For loan officers. You can expect an instant notification when your borrower creates a new PQ letter, plus the option to turn off the feature for borrowers as needed. Coupling this with the latest upgrades to our Loan Officer Portal makes Cornerstone loan officers more mobile than ever.
  • For realtors. Empowered buyers are more likely to be satisfied buyers. These are the clients who are going to tell their friends. Partnering with a lender that has the technology to give your buyers more access to their mortgage whenever they need it frees up room to take on more clients.

Need to win a bidding war or edge out the competition? Now you’ve got the power in the palm of your hands.

3. More balance.

  • For homebuyers. Speaking of time, getting insta-access to your own prequalification letter can virtually erase unnecessary delays. This moves your mortgage along while giving you your life back. Your time can be better spent packing, planning, and painting before and after your move, instead of requesting prequalification paperwork.
  • For loan officers. Giving our loan officers the technology and support to make mortgage fast and easy is the gift that keeps on giving — starting with downtime. With the right technology, loans are processed faster, productivity improves, and more personal time becomes available. Offering on-the-go capabilities is one way we make work-life balance a priority, catering to the 69 percent of team members who want flexible schedules.
  • For realtors. Our streamlined in-house tech tools help us beat the industry odds of up to 36 percent of loans that take longer than expected. So, as a realtor partner, you’ll be fully equipped to give your buyers great, expedited service and get them home in as few as 10 days. Cutting down on delays cuts time-waste so you can take care of yourself and your existing and new clients.

Right now, mobile banking users enjoy the highest customer satisfaction ratios, but new features like our self-generated prequalification letters offer homebuyers the same experience. Everyone benefits from new tech tools that make mortgage fast and easy, helping us reach our ultimate goal of getting buyers home in 10 days.

Put buyers back in the driver’s seat

That’s why we’re here. To make buying a house easy for borrowers and to improve loan officers’ and realtors’ lives at the same time. Find out how to become part of the Cornerstone work-family or how to become a Cornerstone Realtor Partner and get all the tech tools you need to grow your business.

For educational purposes only. Please contact your qualified professional for specific guidance.

Sources are deemed reliable but not guaranteed.

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