CHICAGO, Nov. 11, 2015 /PRNewswire/ -- Key Mortgage Services, Inc. today launched its Loan Tracker app, a mobile application that gives real-time status updates on the home loan application process to all parties involved in the transaction. The first of its kind in the Chicago area, the app features a calendar and status bar, clickable contact information and alerts for important mortgage milestones.
"Our goal with the Loan Tracker app is to provide our clients with complete transparency and an enhanced experience throughout their entire home purchase," said Steve DiMarco, president of Key Mortgage Services. "There are so many moving parts involved in each transaction, and this provides a simpler solution that streamlines communication and ensures everyone involved knows exactly where the application and approval stand."
Through the Loan Tracker app, loan officers and REALTORS® will stay connected to their clients -- from initial loan application through closing -- and will be able to provide immediate loan process updates through their mobile device. All pertinent details of the transaction will be available at anytime to all parties involved.
An additional benefit of the new application is that it alerts the entire team when the closing disclosure is sent to the homebuyer. Before the launch of "Know Before You Owe" -- also known as TRID or TILA-RESPA Integration Disclosures -- the HUD went to all parties associated with the transaction. In a post-TRID market, the consumer receives the closing disclosure to share with the team. The Loan Tracker app lets everyone integrated into the app know that this crucial benchmark has been reached.
Once a potential homebuyer applies for a loan with Key Mortgage, they will receive a personalized and secure link to the Loan Tracker app, complete with contact information and communication links for their entire real estate team. As the loan transaction progresses to the closing stage, all parties involved will receive alerts for due dates and milestone events, such as application started; appraisal ordered; assigned to underwriting; approved with conditions; final approval; commitment date; estimated closing date; clear to close; closing disclosure; and loan funded.
The Loan Tracker app is available for free download through iTunes and Google Play.
About Key Mortgage
Key Mortgage is a full service mortgage company that consistently ranks among the top mortgage companies in the state. Key Mortgage employs the most advanced technology available to ensure that customers save money and close loans quickly. Key Mortgage rapidly responds to new opportunities made available in today's dynamic mortgage markets, and, as a result, the company's customers are consistently met through mortgage underwriting flexibility and delivery of unique mortgage programs. For more information, visit www.keymortgageservices.com.
Andrea Cordts l firstname.lastname@example.org l 312-857-9945
SOURCE Key Mortgage