The new and exclusive Key Mortgage Services Loan Tracker mobile application will keep you connected to your clients throughout the entire mortgage process — from their initial loan application through closing. You’ll be able to provide your clients with real-time loan status updates through their mobile device.
“Our goal with the Loan Tracker app is to provide our clients with complete transparency throughout their entire deal,” said Steve DiMarco. “There are so many moving parts involved in each transaction, and this provides a simpler solution that streamlines communication and ensures everyone involved knows exactly where the application and approval stand.”
The first of its kind in the Chicago area, the app features a calendar and status bar, clickable contact information and alerts for important mortgage milestones. Once a potential homebuyer applies for a loan with Key Mortgage, they receive a personalized and secure link to access their information through the Loan Tracker app. A detailed snapshot of the loan is input into the app — subject property address, loan amount, interest rate, etc. — and contact information for the applicant, buyer’s real estate agent and loan officer are added as well.
An additional benefit of the new application is that it alerts the entire team when the closing disclosure is sent to the homebuyer. Before the launch of “Know Before You Owe” — also known as TRID or TILA-RESPA Integration Disclosures — the HUD went to all parties associated with the transaction. In a post-TRID market, the consumer receives the closing disclosure to share with the team. The Loan Tracker app lets everyone integrated into the app know that this crucial benchmark has been reached.
As the loan moves through the timeline, the team will be notified of due dates and milestone events, such as application started; appraisal ordered; assigned to underwriting; approved with conditions; final approval; commitment date; estimated closing date; clear to close; and loan funded.
The Loan Tracker app is available for free download in the iTunes and Google Play store. For more information, please speak with a Key Mortgage loan officer.