Define Mortgage Deals
A mortgage transaction is that in which the borrower takes on a debt that is secured by the collateral of a certain real estate. The borrower is obliged to pay back the sum owed under a predetermined arrangement which the borrower must not default. Over many years, the borrower pays back the interest and the loan until the loan sum is complete. The lender has a lien on the property and can make a claim on the property if the borrower stops paying the mortgage or defaults. He has a right to foreclose the property.
The mortgage allows individuals and even corporate organizations to make real estate deals without making full payment upfront.
In recent times, the world has gone digital and is flooded with the practice of doing business online. Before now, the practice was for loan officers to quote rates and deliver a transaction fee worksheet for a loan option. The borrower would have to trust that the loan officer was presenting the best option. However, homebuyers are more tech-savvy and are beginning to expect much more from mortgage institutions. Many now prefer to have all the information they need at any time they need it. With the rate of expansion of the market for mortgages, each loan institution must be at its best and demonstrate an ability to meet the needs of its customers.
As a result of the highly digitalized world, the online mortgage planning and presentation systems came up to furnish loan professionals with the tools needed to educate their clients and make them feel they have control over the decision process. The presentation systems include Mortgage Lens and Mortgage Coach.
Mortgage Lens is a Presentation Outfit that offers mortgage and lending institutions up to 26 analysis modules for the mortgage process. Each module allows for data input to produce instant analysis or calculations. Mortgage Lens is browser-based, presentations can be made on any computer which is connected to the internet. Video presentations can be made by users with any desktop-sharing program.
Mortgage Coach is another Mortgage Presentation Service which allows professionals to provide loan options in detailed, clearly illustrated manners. The System uses live updates, charts, and video narration for information to be properly conveyed. Mortgage Coach offers a fully integrated platform of tools that provide a complete end-to-end process of planning, presentation, Customer Relationship Management (CRM), and follow-up.
Mortgage Lens is cheaper but it offers most of the essential services. Mortgage Coach, on the other hand, offers more robust services.