Modern Home Lending increased closed loans by 79% with Maxwell Point of Sale
Year-over-year increase in closed loans
Modern Home Lending is growing quickly—recently, it saw a 79% year-over-year increase in its closed loans. Still, the team remains highly focused on supporting its customers, specifically in meeting their diverse needs through an accessible lending process. To achieve that goal, Modern Home Lending leverages Maxwell solutions to give flexibility and options to its borrowers and growing team.
How Maxwell helped Modern Home Lending
Provide a technology-powered mortgage process that supports borrower accessibility
Offer efficient tools that give flexibility and agility to lending team members
Leverage smart solutions that keep all loan activity in one central hub
By using Maxwell Point of Sale to streamline its lending process, Modern Home Lending is able to support its growing team with innovative technology while offering functionality that meets a wide range of borrower needs.
Founder & President, Modern Home Lending
“Borrowers today expect their lenders to offer mobile-first functionality. Maxwell helps lending teams provide a modern lending experience that wins over borrowers, growing market share and increasing pull through.”
—Evan Einhorn, Founder & President, Modern Home Lending
Modern Home Lending’s mission is simple: To meet borrowers where they are by offering robust options and flexibility enabled by technology. Founded in 2018, Modern Home Lending is an independent broker that embraces an intuitive, efficient mortgage process. The company has grown rapidly since opening its doors, doubling its processing staff in the last year.
Evan Einhorn, Modern Home Lending’s founder and president, has always prioritized an accessible experience for a wide range of borrowers. As his company began to grow, he knew he needed to leverage thoughtful solutions to empower Modern Home Lending’s team to seamlessly adjust to customer needs. That meant creating a modern process for customers, whether facilitating diverse loan options or expanding accessibility through mobile-friendly applications.
Built for borrower and lender needs
When vetting solutions, Evan found a fit with Maxwell because of its commitment to innovative technology that lends flexibility and speed to borrowers. Features like the QuickApply™ pre-fill loan application, which verifies the borrower’s identity and pre-fills the loan application using a network of data providers, create a more efficient process. Meanwhile, Modern Home Lending’s team benefits from a central hub for all mortgage loan activity, allowing them to serve borrowers with better, more customized loan packages.
“Maxwell’s ability to act as a single portal is key because it helps us address customer needs in a very individualized way,” said Evan. “One client, for instance, was pursuing two loans that were sent to two different lenders—one for a smaller condo and one for a bigger home. We as brokers were dealing with two different lenders to get the best deal for the consumer. From the consumer standpoint, the loans were easy to manage because all documentation went through Maxwell.”
Since Maxwell is built for modern consumers, who expect digitally-led, transparent transactions, it allows lenders to meet a wider range of borrower needs. QuickApply, for example, easily connects borrowers’ financial accounts with their loan application, driving a completion rate of more than 90%. Plus, Maxwell’s mobile-friendly functionality allows borrowers without a computer to upload pictures of documents.
“We pride ourselves on catering to as many borrowers as possible. Not every American owns a computer or has the means to come into a physical location multiple times to sign documents,” commented Evan. “Maxwell helps us simplify the mortgage process to expand homeownership accessibility, which aligns completely with our company mission.”
Solutions that support the future of mortgage lending
Another important element Evan sought out in a mortgage technology partner was its ability to support Modern Home Lending’s culture and grow alongside the company. Because Modern Home Lending embraces a flexible company culture with remote employees across several states, it requires solutions that bring the team together. That need only grew with the challenges imposed by COVID-19. With limitations on travel and in-person interaction, Maxwell began to serve as a vital tool for connection and communication.
With over 50 partner integrations, Maxwell helps Modern Home Lending bring the services it uses every day into one place, while customizing workflow to its unique needs. Meanwhile, features like borrower task management, automated reminders and emails, and pre-approval and pre-qualification letter tools help offload manual work. Modern Home Lending employees are now able to focus on high-value opportunities that build business, including offering best-in-class service to customers and building rapport with communities across the country.
“Maxwell has helped us meet both borrower and team needs even as we’ve expanded quickly,” said Evan. “If I needed to add team members tomorrow, it would be no problem because of Maxwell’s ability to scale.”