BeSmartee and LoanFuel make mortgages mobile
Courtesy of a new partnership between mobile platform designer LoanFuel and loan origination platform BeSmartee, mortgage borrowers will benefit from a faster, more efficient lending process whether they are using a mobile device, desktop, or both, reports David Penn at Finovate.
The two companies have announced that LoanFuel will integrate BeSmartee’s technology into its mobile app.
BeSmartee uses artificial intelligence (AI) and big data to drive an origination process that takes borrowers from initial contact to underwriting in 20 minutes. This includes supporting the customer through key initial steps including loan application, credit report, income and asset documents, as well as eSigned and eDelivered disclosures and paid appraisal.
Available as both an iOS and an Android mobile app, LoanFuel is a product of Easy Mortgage Apps, a Massachusetts-based company founded in 2012, that builds mobile apps for lenders.
LoanFuel uses mobile capture technology for the lending process, allowing prospective borrowers to upload documents and deliver them to their lender.
Founded in 2008 and based in Huntington Beach, California, BeSmartee picked up $150,000 in debt financing from Lighter Capital.
The following month, the company announced that it was partnering with Finicity, integrating the company’s Verification of Assets (VoA) solution into its loan origination platform.
BeSmartee also integrated with FormFree’s AccountChek Asset Verification service this spring.