Knoxville, TN (PressExposure) July 24, 2009 -- The collapse of the sub-prime mortgage market and the nationwide slowdown in home sales have forced real estate related businesses to become innovative in finding new ways to increase profitability. Mortgage and Real Estate Professionals now must focus efforts on increasing revenue streams by garnering a larger percentage of marketshare. Mortgage Solutions of Knoxville and Slyman Real Estate solved this dilemma with the addition of LoanMarq software from Sthenia Solutions.
LoanMarq is a complete loan processing and customer service application for the mortgage and real estate industries that enables collaboration among all participants in a mortgage loan transaction in a simple web-based community. LoanMarq streamlines the real estate and mortgage transaction by automating the loan process entirely. For the consumer and associated industry professionals, LoanMarq efficiently communicates with all parties as the mortgage automatically moves through origination, processing, underwriting, and closing, while providing increased transparency and accountability.
Mortgage Solutions President, Marvin Peek, immediately saw the potential for how LoanMarq could increase customer service, revenue streams, and referral sources by tracking 70 milestones and up to 31 documents required for a typical transaction and to keep all participants â borrowers, agents, loan officers, underwriters, insurers, appraisers and more â updated on the status. âIt wasnât a hard sale,â said Peek. âFive minutes into the presentation I stopped them and said âIâm sold.â Iâm a stickler for keeping people updated and we had nothing like this. It was out of this world.â
In a real world test of LoanMarq, Mortgage Solutions used LoanMarq on a loan that needed to close in a matter of days -- a severe challenge for any mortgage operation. âIn a case like that everything has to happen perfectly,â said Peek. And with LoanMarq, it did. The software enabled Peek to easily track all of the required documents, milestones and events to successfully close the loan in less than a week. All the while, automatically communicating with all parties involved.
âItâs like getting into a Ferrari,â said Peek. âIt quickly gets me to realtors, buyers and sellers. It reaches everybody. Itâs an unbelievable product.â
Peek is also convinced that LoanMarq software will help build his business as word gets around about the state-of-the-art mortgage processing capabilities that the company employs, due to the new service standard LoanMarq provides. The LoanMarq software is branded with the Mortgage Solutions logos and messaging which allowed them to distinguish themselves from other companies in a very competitive market place. LoanMarq has become Mortgage Solutionsâ competitive advantage. Peek now has something tangible that potential referral sources crave, allowing him to build new, profitable relationships. Mortgage Solutions is poised to procure more mortgage loans even in a slower market and Peek points to LoanMarq as the catalyst for this success.
Not only does LoanMarq raise the customer service bar to a level never before attained, it also decreases the expense involved in facilitating mortgage transactions across all vendors, because it delivers productivity-enhancing efficiency, automates loan status updates, creates accountability, as well as eliminates document ordering and tracking via phone, email, or fax.
Slyman Real Estate recently adopted LoanMarq as a requirement for choosing their lending partnerships. Slymanâs clients will be referred to lenders who will use LoanMarq to facilitate their transactions. Laura Slyman, President of Slyman Real Estate, says âIn order to effectively compete in the real estate industry, it is imperative to innovate. I am always seeking new ways to offer a higher level of service to our clients. LoanMarq is the innovation the real estate community has needed for years. When we show our clients the advantages LoanMarq provides, we have been able to build stronger relationships allowing us to separate ourselves from our competition.â Slyman Real Estate is convinced that partnerships between their agents and their preferred lenders, will revolutionize the service they provide and lead to success in 2009.
What it does
LoanMarq facilitates the working relationship and creates a collaboration environment for all parties and vendors who are integral to the mortgage process. LoanMarq automates the entire mortgage transaction in a simple, easy to use web-based application. Borrowers, real estate agents, builders, appraisers, title companies, insurance agents, loan officers, processors, und underwriters will now instantly have access to loan status updates, communicate automatically with one another, and securely transfer required documentation to one another more efficiently than ever before. Along with relationship and document management, LoanMarq manages and schedules 70 different milestones in the transaction process. Whenever a milestone is requested, due, or completed, LoanMarq communicates with the necessary parties via email and/or text message. LoanMarqâs milestones include all typical stages and elements of the loan process and real estate transaction such as pre-approvals, credit reports, rate lock expiration dates, disclosure due dates, and closing dates and is able to manage first and second mortgages simultaneously. LoanMarq takes customer service in the mortgage and real estate industry to a level once thought impossible to achieve and is poised to become the new industry standard.
Pricing and Availability
LoanMarq is available immediately to loan officers, for $49.00 per user, per month, with no service contract or obligation. For more information on LoanMarq please contact firstname.lastname@example.org or call 866-341-6444 to arrange a private demo or a free trial period.
To review LoanMarq software, please contact Scott Kline, email@example.com or 818.884.8282.