Angel Oak Home Loans adopts SimpleNexus’ platforms for agency and non-QM lending

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Mortgage lender Angel Oak Home Loans has implemented SimpleNexus‘ all-in-one mortgage app to streamline its loan origination process.

The Atlanta mortgage lender, which offers agency and non-qualified mortgage (non-QM) products, will implement the tech firm’s Nexus Origination and Nexus Engagement tools.

A customized loan application developed for Angel Oak Home Loans will support both agency mortgage and non-QM lending “for borrowers of diverse financial backgrounds,” said Shane Westra, chief product officer at Simple Nexus.

With Nexus Origination, what SimpleNexus calls its flagship point of sale system, borrowers can apply for a loan, upload documents, view loan status, pay and sign disclosures on the app. The mobile-first functionality feature allows borrowers, lenders’ staff, real estate and settlement agents to use it on any web-enabled device, including iPads and desktops, according to the firm.  

Meanwhile the mobile app Nexus Engagement, which connects borrowers, loan officers and real estate agents, aims to capitalize on customers’ pre-application phase to convert more leads to closed loans. Its core features include an integrated home search, loan payments calculator and the ability to begin a loan application.

SimpleNexus’ single-sign-on feature and a point-of-sale “uses technology to optimize business process” and improves borrower experience at “very point in mortgage transaction,” said Richard LaNasa in a statement. 

In recent months, the mortgage lender, part of the Angel Oak family of mortgage companies, has been expanding its presence in the correspondent channel. Since the third quarter of 2021, Angel Oak has been purchasing agency mortgages to offer a one-stop shop approach for the sale, servicing and securitization of all home types to lenders, the firm said in June, the same time it brought on Steven Valladares as vice president of correspondent sales. 

Angel Oak Home Loans, operating as one of Angel Oak’s residential lending businesses, continues to expand its retail presence across the country. In July, it expanded its footprint in North Carolina, South Carolina and California by launching five branches, bringing its total number of offices to 52 in 43 states.

SimpleNexus offers five products including Nexus Closing, which provides an integrated eClose solution supporting hybrid, tradition and fully digital closings, and Nexus Vision, a turnkey mortgage software for mortgage lenders. The tech firm provides a digital mortgage platform targeting loan originators, real estate partners, mortgage lenders, banks and credit unions, according to the its website.

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Author: Connie Kim