Let’s start with the big picture: What is the vision
behind Flagstar’s role as a leader in bringing
innovative technology to the mortgage industry?
Steve Brooks: Quite simply, our vision is to bring lender-
class technology into the offices of independent mortgage
brokers and correspondents.To enable them to enjoy the same
efficiencies that we’ve developed for our own operations, and
to do it easily, at virtually no up-front cost.
Brooks: By offering these kinds of advantages to
forward-thinking brokers and correspondents,we’re providing more
reasons to do business with Flagstar instead of someone else.
And, just as in any business-to-business arena, the more
successful our customers are, the more successful we are. If we
can help progressive mortgage brokers and correspondents to
survive, thrive, and grow into the future, then our success will
grow along with theirs.
Bringing new technology advantages to
brokers is not a new approach for Flagstar.
Brooks: No, it’s always been part of our DNA as a wholesale
mortgage lender. We were among the first to introduce live
videoconferencing with our underwriters. Our customers tell
us that Flagstar’s loan process, built around our Web-based
Loantrac system, provides one of the best customer experiences
in the industry. We’ve had electronic document tools like
Digital Document Transfer
and Paperless File Manager
available for quite some time.
We’re also proud of the way we’ve used technology to provide
co-branded servicing statements, to keep the broker’s name in
front of the borrower and help increase repeat and referral
business for them. The same is true of our automated lead-
generation data alerts to our brokers, using our technology to
help brokers increase their volume and market share.
So what’s coming next from Flagstar is truly
paperless lending, using electronic documents.
Brooks:Yes, what’s exciting is that now we’re actively putting
the final pieces into place for a true, end-to-end paperless
mortgage loan process… from origination to underwriting to