By David Boone
First vice president
The Provident Bank
Building Business with Automation usi s w utom on
Technology levels the playing field for brokers facing stiff competition
By embracing automation solu- tions, mortgage brokers can take steps to realize new oppor-
tunities, grow revenues, create compet-
itive distinction and expand business
development. To seize the opportuni-
ties in today’s lending environment,
brokers must engage strategically in
electronic-lending initiatives. These ini-
tiatives allow brokers to compete with
competitors of all sizes.
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back to them. They want information
immediately and also seek an easy-to-use application, competitive rates, personalized product recommendations,
and detailed closing costs in a fast and
When looking to engage in online
lending, brokers also must drive business to their online channel. They can
do so through Internet advertising, including pay-per-click ads.
Brokers also can establish and grow
their online lending efforts with a comprehensive Web portal that provides
multiple lending options such as mortgages, second mortgages, consumer
loans and small-business loans. Brokers must strive to meet borrowers’
needs and to provide advanced automation throughout origination.
With automation, brokers can deliver
a streamlined application method that
processes application fees, pulls credit
and other information, and provides
borrowers with instant decisions automatically. This workflow eliminates several steps and creates greater efficiency
By providing instant decisions, brokers can gain a competitive advantage
and fulfill online borrowers’ high expectations. This can increase pull-through
Online-lending solutions also can provide brokers with vital data about which
products grab borrowers’ attention
most. This allows brokers to focus on
products their target audience desires.
Brokers who use online origination
also should see a sizable reduction in
printing and mail costs. In addition,
there is typically no charge for redraws.
When mistakes occur, lenders can
make the necessary changes with borrowers at the closing table.
Advanced automation solutions that
are efficient, secure and easy to use enable brokers to identify business opportunities quickly and affordably. These
solutions include online originations,
e-disclosures, electronic document delivery and a host of other services.
Brokers who embrace lending automation can grow revenue and create competitive distinction in today’s
The opportunity is now!
888.444.9664 // www.jacobdeanbranch.com
Looking for branch offices and loan officers in:
CO, CT, DE, DC, FL, KS, ME, MD, MA, MO, NH, NJ, NY, NC, OH, PA, RI, SC, VT, VA, WV
David Boone is first vice president of The
Provident Bank, www.providentnj.com.
Provident serves its customers via a network of more than 80 branches throughout
northern and central New Jersey. It has
been able to leverage technology through
a strategic partnership with Data-Vision,
which delivers a suite of comprehensive
online services. Contact Boone at David.
Boone@ProvidentNJ.com. Contact Data-Vision
at (888) 925-8625 or www.d-vision.com.