Keep up with the innovations in the mortgage loan landscape and ensure to have a robust mortgage point of sale software in your digital toolkit to make things easier for you, your team, and the borrowers. Overcome the limitations of the conventional methods of processing loans and incorporate more agile methodologies to increase loan profitability by getting your very own software now. 


7+ Mortgage Point of Sale Software

1. SimpleNexus

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Rating: 5/5

Price: Custom

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2. Floify

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Rating: 5/5

Price: $79.00/month

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3. BNTouch Mortgage CRM

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Rating: 5/5

Price: $148/month

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4. Encompass

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Rating: 5/5

Price: Custom

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5. BeSmartee Mortgage POS

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Rating: 4.5/5

Price: Custom

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6. Cloudvirga Enterprise POS

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Rating: 5/5

Price: Custom

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7. MortgageHippo

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Rating: 5/5

Price: Custom

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8. Roostify

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Rating: 4.8/5

Price: Custom

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What Is Mortgage Point of Sale Software?

Mortgage point of sale software is a digital solution that provides lending organizations and mortgage lenders with a platform for streamlining the management of back-office processes. Also, this modern solution allows users to set up a web portal, letting borrowers apply for a loan digitally through using their digital devices. With this, lending teams can access the digital tools necessary for their daily operations in an integrated interface.

It increases transparency during the mortgage loan process, improving the facilitation processes for lenders and allowing borrowers to keep track of the status of their applications. In addition, it offers a business instant messaging platform for more seamless communication for both parties. 

Benefits

Using this technology will allow you to attain more results while reducing the effort and time you need to expend in the complexities of loan origination. Also, through digitizing the manual processes and using its workflow automation capabilities to handle repetitive tasks, you can increase the productivity and efficiency of your operations. 

Features

When you browse available mortgage POS solutions in the software market, you can get back plenty of results enough to make it challenging for you to figure out which of them can meet your needs. That said, overcome this situation by knowing which factors to look into when singling out the software of your choice. The elements you should consider are the size of your organization, digital devices you prefer to utilize, interface design, and other factors that can help you tell whether or not a POS system aligns with your strategic goals. You should also consider the following features:

  • eSignature capabilities
  • Secure borrower portal
  • Live chat functionalities
  • Document generation and collection tools
  • Loan dashboard
  • Configurable workflows
  • Analytics platform
  • CRM software integration
  • Task reminder functionalities

Top 10 Mortgage Point of Sale Software

1. Encompass

With this commercial loan software, you can simplify the complexities of closing document management and credit reporting. Its developer, ICE Mortgage Technology, has 158.1 million dollars in revenue and has 1,090 people in its team. 

2. Blend

Blend is a loan servicing solution that provides users with borrower management capabilities and a client database. They have 938 employees and 121.9 million dollars in generated revenue.

3. SimpleNexus

This loan origination system has loan processing and electronic signature tools. They have 24 million dollars in generated revenue and have 115 employees in their team. 

4. Roostify

Roostify is a POS software with loan servicing and retail point of sale tools. They have 107 people in their team and have 13.9 million dollars in revenue. 

5. Cloudvirga Enterprise POS

You can streamline the processes of electronic verification of assets and document uploading with this software. They have 70 employees working for them and have 9.1 million dollars in revenue. 

6. Floify

This mortgage solution offers functionalities for compliance management and pipeline management. They have a revenue of 9 million dollars and have 44 people working for them. 

7. BeSmartee Mortgage POS

With this mortgage platform, you can access features for better process automation and business intelligence. They have 6 million dollars in generated revenue and have employed 30 people. 

8. Loanzify

Tools for loan origination and pipeline management are features you can use in this software. They have generated a revenue of 6 million dollars and have employed 30 people. 

9. MortgageHippo

MortgageHippo is a platform with functionalities for processing applications and loans online. They have a generated revenue of 3.9 million dollars and have 18 employees. 

10. BNTouch Mortgage CRM

With this digital solution, you can use features for streamlining document management and refinance management. They have 15 employees and have 2.2 million dollars in revenue. 

FAQs

Why is a POS system essential for mortgage companies?

A POS system is an essential tool that mortgage professionals need to secure to stay competitive in the industry. With this software solution, banks can gain a powerful data source, giving them better insights into pivoting plans and strategies to heighten the borrower experience and increase loan quality. That said, having a POS software will make mortgage companies more efficient and effective in meeting clients’ needs.

What is mortgage CRM software?

Mortgage CRM software is the modern solution that helps lenders implement their customer relationship management strategy to start and nurture relationships with clients. It organizes data in a database and gives users access to needed information for effectively following up and closing loans. Also, it has functionalities for providing prospects with the knowledge on the mortgage processes to gain more trust and increase conversion.

What is the loan origination process?

Loan origination refers to the lengthy process of when borrowers obtain a mortgage from lenders. The first step is the preapproval which requires the borrower to submit needed documents, and the lender will run a credit check. Following it is the filling of the loan application form. After these processes, the negotiation, processing, underwriting & rating, and loan approval come next.

In this digital technology, where the quality of digital processes and customer experience are crucial make-or-break factors that can affect the health of your business, ensure to leverage modern solutions to your advantage. Attain more than your expected outcomes by employing the best practices to optimize processes and maximize results with the best mortgage point of sale software. 


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