Bill Mullan has been a mortgage loan originator since 2016 and a wemlo® customer since November 2020. Before then, his office primarily used an in-house loan processor, but an increase in volume drove a need for more support. Additionally, their loan processor had to take a medical leave, so having the option to bring in outside processors was a huge benefit, Mullan said.
“It all started just based on volume and her pipeline was too much,” Mullan explained. “She did a great job, but she also had an abundance of volume at that time. So that is how it [our relationship with wemlo] started … I would say right now, 90% of our files are going through wemlo. And that is where it is today. So, we shifted from most of our files being in-house over to pretty much only using wemlo as our system.”
At wemlo, we are visionaries in the mortgage loan processing industry. Our community of hard-working mortgage professionals have helped transform third-party processing by creating a sleek, easy-to-use, all-in-one digital platform. Our third-party processing services offer busy mortgage professionals a scalable alternative to the old, slow, and often clunky ways of processing loans. Here’s what one wemlo customer has to say about his experience:
After several years of working together, Mullan can confidently say this third-party relationship has been a game changer for his business. “I have worked with the two same wemlo processors for years and have gotten to know them very well as people. There is not a revolving door of different processors working on different loans and that continuity goes a long way,” he said.
Mortgage professionals can appreciate that with an increase in business comes an increase in workload. With each new client, there is more paperwork to be done, more phone calls to be made, more statuses to watch, and more administrative work in general.
All of this takes up a significant portion of an MLO’s workday, often leaving little time for the customers themselves. Being able to automate many of these back-end tasks clears time in a MLOs’ schedule so they can better accommodate these borrowers. In turn, happier clients will follow. And as we all know, satisfied customers may lead to future business through referrals.
That is where wemlo comes in. We take some of these tasks off the MLO’s plate so they can focus on what really matters — keeping their current borrowers happy and having time to focus on bringing in new business.
Mullan appreciates that wemlo’s team keeps the process moving without him having to check in or ask — though a transparent dashboard makes it easy to follow along and check loan statuses when he wants to check.
“They are highly effective in making sure that things are staying on target and staying on top of title companies, borrowers, and keeping me informed. I have gotten to know them as individuals, and they are people that I enjoy working with. In this industry, people will work with people they like, and everyone is friendly, everyone is responsive, everyone is making an effort to help us close loans more effectively,” he said.
In summary? For Bill Mullan, it’s simple: “We value the relationship.”
Looking for more processing tips and tricks that can increase day-to-day operational efficiencies and help your profit margins? Sign up for the wemlo newsletter where we share industry news, and professional tips to your inbox each week!