SimpleNexus analysis of tens of thousands of loans shows preference for mobile loan application reached the tipping point in 2Q19
SimpleNexus (SimpleNexus.com), developer of the leading digital mortgage platform for loan officers, borrowers and real estate agents, today released data indicating that, given the choice, a majority of borrowers now prefer a mobile-driven mortgage loan application process. Mobile applications accounted for more than 50% of the 37,157 mortgage applications submitted through the SimpleNexus platform in the month of May.
Because SimpleNexus’ mobile-native point-of-sale (POS) technology is used by more borrowers and loan originators than any other platform of its kind, its users’ behaviors can indicate changing origination trends, such as borrowers’ rising preference to complete mortgage applications from their mobile devices.
This finding comes as the firm is clocking record loan application submissions and growing at an unprecedented rate. To date, the SimpleNexus platform has connected its 20,000 active loan originators with 1.1 million borrowers and 65,000 realtor partners to produce nearly five million loans totaling over $100 billion in volume.
“Our triple-digit growth and enthusiastic adoption by loan originators, real estate agents and loan applicants shows how SimpleNexus is delivering on a market need for a mobile origination toolset that gets more loans to the finish line, faster,” said SimpleNexus Founder and CEO Matt Hansen. “We are proud to be setting the bar for what a digital mortgage platform should be.”
For two years running, SimpleNexus has ranked in the top 500 on the Inc. 5000 list of America’s fastest-growing private companies. In 2018 the company added 60 clients to its roster, bringing the total number of enterprise lenders SimpleNexus empowers to “do more” to 223, including 15 of the top 25 retail lenders in the United States.
For more information, visit https://simplenexus.com/domore.
About SimpleNexus, LLC:
SimpleNexus is the digital mortgage platform that enables lenders to originate and process loans from anywhere. The company’s best-in-class, easy-to-use app connects loan officers to their borrowers and real estate agents to easily communicate and exchange data in a single location throughout the entire loan life cycle. Loan officers can manage their loan pipelines, order credit, run pricing, send pre-approvals and sign disclosures — all on the go.