Eagle Home Mortgage, a subsidiary of Lennar Corporation (NYSE: LEN and LEN.B), on Monday announced the introduction of a digital mortgage platform that can be accessed via virtually any mobile device.
Called the Eagle Digital Mortgage platform, the new service enables customers to apply for a mortgage loan from their smartphone, tablet, desktop or laptop, anywhere, anytime. Customers can automatically connect their bank statements, tax and employment information, and any other document necessary to apply – in minutes – eliminating the inefficiencies of the paper-based process. Lennar said loan officers can also 'co-pilot' an application directly with a customer to guide them every step of the way.
The Eagle Digital Mortgage platform was developed in partnership with Blend, a Silicon Valley technology company that provides a streamlined digital loan experience to lenders across the industry.
"We are combining the power of technology with an intuitive design to enable borrowers to apply for a mortgage in as little as 10 minutes from any device," said Jimmy Timmons, president of Eagle Home Mortgage. "By empowering customers to provide a more complete loan application upfront, we can streamline our entire mortgage application, approval, processing and closing process."
The Eagle Digital Mortgage platform operates with a bank-level encryption to secure information. It also provides enhanced loan origination controls and greater certainty around the borrower's assets, income and employment information, reducing processing and underwriting time.
Throughout an initial pilot of Eagle Digital Mortgage, the company processed more than 700 applications. Lennar said customer feedback has been overwhelmingly positive.
"I am pleased to see such a positive response from our customers," continued Timmons. "Buying a new home is an incredibly exciting and wonderful experience. We believe the mortgage experience should be too. The new Eagle Digital Mortgage experience makes applying for a loan easy, fast and enjoyable!"
