Matt Hansen’s brother-in-law, a mortgage loan originator, was tired of constantly recalculating customer loan payments by hand. Hansen decided to help in his spare time and developed a mobile mortgage app over the weekend. Within weeks, more originators were asking Matt for their own version of the app. Hansen continued to add features and his customer base grew, fueled exclusively by user referrals.
The app, which started as a family favor, quickly grew into an entrepreneurial venture filling a real market void in the industry. Today, SimpleNexus is an enterprise-level digital mortgage solution used by 15 of the top 25 retail mortgage lenders in the U.S.
Early in its development, the company made a priority of listening to its users as it improved the app and added new features. The platform turns loan officers into mobile originators, giving them the ability to view applications, pull credit reports and oversee all aspects of the loan process, all while connecting in real time to their LOS.
The app increases transparency with push notifications that save loan officers the hassle of sending emails or returning multiple calls on loan status, while also allowing every party to be on the same page on the status of the loan.
“SimpleNexus recognizes a need in the mortgage industry for not only improving the customer experience, but also streamlining processes to reduce costs on the back end and empowering loan officers,” said Ben Miller, SimpleNexus president and COO. “We keep originators connected with their customers, Realtor partners, systems, and tools they need to do their jobs compliantly, efficiently and competitively.”
Over 18,000 loan officers nationwide now use SimpleNexus. The platform has serviced more than 450,000 borrowers while managing the flow of $100 billion in transactions.
“Our unprecedented growth clearly demonstrates the leading role SimpleNexus occupies in the digital mortgage movement and an industry-wide embrace of our mobile-first technology that is making the mortgage process more efficient,” said Matt Hansen, SimpleNexus founder and CEO.
Clients using SimpleNexus are reporting their originators are closing loans 20% faster compared to industry averages. This time savings enables mortgage lenders to sell more, and make more, without devoting more time to their job.
The platform has also transformed what can be a daunting process for borrowers into a simple-to-understand, user-friendly experience that can be managed from the convenience of their mobile device.
Cultivating the human-to-human interaction between lender and borrower remains a core focus of SimpeNexus as it continues to develop its digital mortgage technology to support the role loan officers play instead of replacing it.
PRODUCT: SimpleNexus
SNAPSHOT: SimpleNexus, a leading provider of private-label digital mortgage platform solutions, enables lenders to originate and process loans from anywhere. The SimpleNexus platform serves 15 of the top 25 retail mortgage lenders in the U.S. with more than 180 enterprise mortgage companies and more than 18,000 loan officers nationwide.
