Among companies to recently enhance their mobile offerings are a wholesale lender, a valuation technology firm and a mortgage insurance company.
UMobile has been updated with a new look and feel, a Sept. 30 statement from United Wholesale Mortgage said. The mobile application was originally launched in February.
A new mobile application unveiled Tuesday by Arch Mortgage Insurance Co. supports separate interfaces for banks and credit unions — enabling a quick comparison of M.I. premium plans.
In addition, users can check current rates, guidelines and credit bulletins; review housing market data; and find the appropriate Arch sales representative.
Appraisal Tracking On Mobile was announced Tuesday by Global DMS. The application provides access to the eTrac valuation management platform from a phone.
Appraisers can reportedly utilize ATOM to review their pipelines, manage orders and contact borrowers, according to Global DMS — a Mortgage Daily advertise. It can also be used to obtain directions to the subject property.
At a meeting last month with the Consumer Financial Protection Bureau’s Consumer Advisory Board, CFPB Director Richard Cordray addressed several mobile-related issues.
He talked about how consumers today have ready mobile access to remote and instantaneous communications, whereas a generation ago nobody had such resources.
“But we need to make sure that the legal and regulatory framework can keep up effectively, so that all consumers can be well served and remain protected, whether they are opening their wallet or scanning the screen on their smartphone,” Cordray stated, according to a copy of his prepared text.
ADRMortgage.com out of Raleigh, N.C., recently claimed that it originated the very first loan from a mobile device. The company was responding to a borrower who reportedly indicated, “I do not have a computer and I want to sign all my documents with my Samsung Galaxy device.”
“At ADRMortgage.com the consumer can sign all documents necessary to complete the origination of a mortgage loan,” the statement said. “Of course, at the closing table the consumer re-verifies all documents using the attorney’s computer. The risk is the same in either transaction, a paper based bank originated loan or an online mobile device/computer based origination.”
The transaction was aided by Citrix’s Sharefile. While a Citrix spokesman couldn’t verify that it was the first transaction of its kind, he did note that it was the first time that Citrix has heard about one of its customers using its mobile signature technology that way.
