CLOUDVIRGA: Intelligent Point of Sale Engine for Lending Businesses

The mortgage industry has witnessed a major shift over the past years owing to digitization. Every prospective borrower seeks a faster and effective digital mortgage experience. As a result, lending companies are now focused on providing an enhanced experience for all the parties involved in the mortgage workflow, be it a customer or a loan officer. One of the vital components of the workflow are the Point-of-Sale systems that rule the digital mortgage space, as they can easily automate the loan origination process and reduce the cost per loan. The common part of any POS system in the digital mortgage process is its ability to integrate with the existing Loan Originating Systems. This integration can be successful only when the companies are committed to provide exceptional compliance experience to both lenders and consumers.

Cloudvirga provides an intelligent point-of-sale (POS) platform, for both loan officers and consumers, which automates operations traditionally performed in the back office to reduce mortgage origination costs, improve user experience, and increase business insight in the home loan market. The solution is available for both mortgage loan originators and consumers. The originator POS reduces multiple touch-points by providing the originators with the required functionality to upfront the customers. On the other hand, the consumer POS guides users through the entire loan process by giving them the access to check their loan status from anywhere and anytime.

The company also launched a mobile app last year that enables the real estate agents to collaborate and connect with mortgage loan officers. The app is available in the Google Play Store and Apple Store. Real Estate agents can check the loan status, view and send pre-approval letters, and upload purchase contracts. The agents will also have the access to send the potential leads to loan officers. “Cloudvirga’s new mobile app deepens the collaboration between loan officers and real estate agents, which is critical to success in today’s purchase-driven market,” says Kyle Kamrooz, Co-founder of the company.