Magazine article Mortgage Banking

GHR Offers Web Site Solution. (Tech Newz)

Magazine article Mortgage Banking

GHR Offers Web Site Solution. (Tech Newz)

Article excerpt

GHR SYSTEMS INC. HAS INTRODUCED THE Consumer Direct Origination Website, a new retail Internet product offering to the mortgage lending industry. The Consumer Direct Origination Website is designed for use by lenders who market to consumers shopping or applying for mortgages online. The product gives lenders the ability to offer qualifying and closing cost information, automated decisioning tools, e-advice and more to consumers, in the form of a full-featured, self-service, loan origination Web site.

The Consumer Direct Origination Website product is well-suited for lenders who want to quickly set up a function-rich presence in the online direct-to-consumer market and start reaping the benefits of this growing customer base, according to GHR. Using the site, consumers can quickly determine which of the lender's loan products they qualify for, and view transaction-specific closing costs and lender/investor stipulations. Consumers can also indicate if they want to lock or float as well as pay for any lender-required fees online, based on mortgage product options and lender preferences. This can keep them from looking elsewhere even if they don't immediately find the price they desire.

Some of the key features that are available in the Consumer Direct product are daily rate feeds from a lender's pricing department and the capability for a consumer to instantly complete a mortgage application online. A consumer who is not comfortable applying online can elect to communicate with a local loan officer via the loan officer Web page of the Consumer Direct site, thereby greatly improving the lender's conversion rate of shoppers to buyers. …

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