Loan Depot Executives Talk About HELOC Product Launch

As to why he launched HELOC, Sidi says it started with prioritizing the customer experience. “We provide our customers with a product and experience that really works with the simplicity, convenience and speed of allowing them to apply for a HELOC product, get approved in minutes, and access cash from that HELOC in days. We wanted to make sure we were doing it for weeks or months,” she said.

“So we designed the right processes up front, listened to our custom needs, leveraged digital tools and data to remove friction from the experience, and enabled what we consider to be highly innovative and cutting-edge technology. Consumers can now pre-qualify with a personalized rate quote in minutes with minimal information, then verify their identity and underwrite from their home equity. , we will be able to provide the minimum information necessary to be able to raise funds and make it available in the shortest possible time.”

Read the following: Loan Depot Downsizing – What’s Behind the ‘Justify’ Effort?

Loan Depot President and CEO Frank Martell echoed Sidi’s views on the economic climate, saying that “consumers are looking for options to manage the impact of rising interest rates and high inflation.” Stated. “With his home equity at an all-time high, many homeowners will greatly benefit from an easy and fast way to access the value of their home.

“Our Digital HELOCs, underpinned by our nationwide network of authorized loan officers, diverse customer engagement channels, and the strength of our trusted consumer brands, put us in an excellent position to support them. .”

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