Foothill Ranch-based loanDepot LLC, the second largest non bank retail mortgage originator in the U.S., recently spoke to the Orange County Business Journal and said that its new “mello smart loan” digital mortgage process trims the often time-consuming and frustrating loan application process to as few as eight days.
“We’ll see savings of up to 50% of the typical cost of a loan,” loanDepot Chief Operating Officer Tammy Richards said in an interview.
“Development can come from anywhere,” Richards said. “It doesn’t need to come from a valley. Quality comes from the deep understanding of the mortgage industry that we have.”
Read the full article: LoanDepot, United Capital turn to software (Orange County Business Journal)