Leading the Digital Evolution in Mortgages
Cloudvirga™ is committed to creating the digital mortgage with built-in intelligence to revolutionize mortgage origination. Our point-of-sale (POS) solutions go beyond just taking an application - they automate tasks traditionally performed by operations to cut costs, streamline the experience for customers and lenders, and increase business insight across the entire origination process.
The POS That's Right For You
Cloudvirga offers two POS platforms – the Cloudvirga Consumer POS that takes a digital app and can be deployed in a matter of hours. The Cloudvirga Enterprise POS additionally provides an environment for Loan Officers, and adds expertise and intelligence to the digital mortgage to create underwriter-ready loans.
Transforming the Mortgage Experience
- Increase borrower self-service - 42% of borrowers complete their application on mobile devices with cloudvirga’s intuitive interface with workflow, increasing FTE productivity
- Have borrowers commit faster - Automatically disclose loan products with all APR and fees, meet guidelines, and order an appraisal for a one-call close
- Close loans faster and cheaper - with task automation, built-in workflows and data retrieved from original sources, LOs do not have to wait for operations to setup and prep a file
- Make compliance simple - let the POS be the expert that asks the right questions so borrowers are happier and loan officers can focus on selling
- Increase business insights - by fully digitizing the mortgage, loan data is available to borrowers, LOs, and lenders get metrics on the state of the business
- POS for the Consumer and LO - borrowers and lenders collaborate using role-appropriate workflows that include prompts, loan products, and anomaly detection
- Back-office tasks completed up-front - validates data against original sources, orders services, asks key questions, calculates fees, so underwriters never work with false assumptions.
- Task automation - performs complicated calculations that traditionally require several cycles of coordination between the borrower and operations team.
- Built-in compliance checks - workflow prompts borrowers and loan officers when action is needed and creates an audit trail, resulting in highly-compliant loans.
- Operational reporting - standard KPIs, detailed analysis of when and how applications are abandoned and if loans are out of compliance provide actionable operational insights.
The Old Way
The New Way
A Few Days
Innovation and Mortgage Expertise Run Deep
The story behind cloudvirga is unique. We began as an internal development initiative within one of the country’s top 25 lenders. It was an experiment to see if it was possible to transform the chaos and manual processes in lending with a more robust workflow and consistent consumer experience, while truly moving the needle on driving down rising loan costs.
Mortgage origination is complicated, and you need people who know mortgages. Our founders are recognized industry leaders in the industry, and our technology grew out of a top US lender. Our track record says it all - we have processed over $7B in loans for 8 of the top 40 lenders in the country.
Cloudvirga is now deploying with several lender partners that share our core belief that we cannot simply “shift” from one software platform to another—we need to fundamentally transform how loans are done.