Qualia Expands Closing Platform to Serve Mortgage Industry
January 16, 2020
Qualia announced the launch of a new platform to help streamline transactions during the closing and post-closing process.
Qualia Post integrates with Loan Origination Systems (LOS) and automates the post-closing process for lenders all within a secure portal. Lenders using Qualia Post have reported reducing the amount of time they need to work on the post-closing operations of each transaction by 25 percent.
According to data collected from the MBA and STRATMOR Peer Group Roundtable Program, after the closing, the total number of days in warehouse before a loan is sold on the secondary market can range from 18-27 days for independent mortgage bankers. This can result in the total closing and post-closing process taking nearly 2.5 months.
"While most real estate technology companies are focused on the beginning of the home buying process, such as the home search for consumers or generating leads for real estate agents, we are committed to making the historically complicated closing process easier from start to finish," said Joel Gottsegen, co-founder and CTO of Qualia. "Toward that goal, Qualia Post streamlines the post-closing process, reducing the workload burden caused by outdated, manual processes and making it easier for two key partners in the real estate transaction—title companies and lenders—to collaborate more efficiently."
Post empowers lenders to collect digital and physical trailing documents across all their title company partners. Title companies receive automated email reminders to share documents and lenders can review the status of all their requests without leaving their normal LOS workflow.
“Qualia is a game changer for our mortgage operations. We’ve gained back critical time to focus on superior customer service and winning new business,” said Andrew McElroy, vice president of mortgage operations at American Federal Mortgage Company.
Contact ALTA at 202-296-3671 or communications@alta.org.