A collaboration between loan technology innovator BeSmartee and Byte Software’s BytePro platform will improve the digital mortgage experience for customers by enabling lenders and originators to process applicants faster and better manage heavy demand cycles.
“We’re pleased to have fulfilled this bi-directional integration to the BytePro LOS platform,” BeSmartee co-founder Arvin Sahakian said, calling Byte “a truly great company.” He added, “(This) gives BeSmartee the opportunity to enhance the origination process and user experience for more than 1,000 Byte LOS customers.”
Among other features, the integration will enable lenders to create a loan file in Byte using Fannie Mae 3.2 file data, and will support the pushing and pulling of documents and conditions to meet all the requirements of the loan origination and financing process. Borrowers will benefit from a multi-channel, interactive borrowing experience that leverages chat, text, messaging, email, and co-browsing to enhance the customer journey through an automated workflow.
Kirkland, Washington-based Byte Software was founded in 1985. With clients in all 50 states of the U.S., the company works with both multi-state lenders as well as community banks and mortgage brokerage firms. Its BytePro platform streamlines the mortgage process by using document imaging, an accessible web portal, task tracking and metrics, customizable pipeline views, and multiple user editing of loan files to improve efficiency. A business partner of CBCInnovis, a mortgage lending support solutions provider, Byte Software released the latest version of its technology this spring, introducing a new VA Cash Out Refinance Certification document in addition to other enhancements.
BeSmartee demonstrated its Smart Mortgage technology at FinovateSpring 2017. The company leverages artificial intelligence to enable lenders to move borrowers from initial engagement to underwriting in 20 minutes with completed loan application, credit report, income and asset documentation, eSigned and eDelivered disclosures, and paid appraisal.
In just the past few months BeSmartee has forged partnerships with a variety of players in the mortgagetech industry. In July, the company announced an integration with real estate document collaboration and recording technology company Simplifile. Also in July, BeSmartee and private mortgage insurance provider Arch Mortgage Insurance Company (Arch MI) collaborated on a direct integration that will provide quick and accurate risk-based pricing to accelerate the application process.
In June, BeSmartee announced another partnership, integrating with income calculation and verification technology provider LoanBeam. The same month, the company introduced its new mortgage platform for wholesale lenders and third-party originators.
Founded in 2008, BeSmartee is headquartered in Huntington Beach, California.
The BeSmartee Wholesale Mortgage TPO Platform provides an automated, centralized submission portal originators can use to submit borrower applications and related documentation. Once this simple, guided process is completed, the third-party originator will be automatically directed to the MLO Command Center where they can work with borrowers in real-time to ensure loan requirements are met. This includes tasks such as editing files and running pricing to lock or float the interest rates.
“We’ve worked side by side with our wholesale lender clients for over two years to create the BeSmartee Wholesale Mortgage TPO platform,” BeSmartee co-founder Arvin Sahakian explained. “(The solution is) a truly ideal loan submission portal (that) not only meets the needs of our respective wholesale lender clients, but also their valued TPO network of brokers.”
BeSmartee’s new offering can also be paired with the company’s mortgage POS technology. This provides an even more seamless, fully-automated application, collection, and submission process that removes the need for the third-party originator to be involved in file submission. The TPO platform also gives loan originators the ability to access more than 165 partner software integrations including mortgage pricing engine tools, automated underwriting systems (AUS), and electronic signature solutions.
Founded in 2008 and based in Huntington Beach, California, BeSmartee made its Finovate debut two years ago at FinovateSpring 2017. Last fall, the company announced that it had integrated with Fannie Mae’s Desktop Underwriter system to further automate and streamline loan originations. With more than 25,000 applications a month processed via its platforms, BeSmartee announced both an integration with fellow Finovate alum Equifax and a partnership with mobile platform designer LoanFuel last summer.