SOURCE: StreamLoan

August 19, 2016 12:48 ET

Alterra Home Loans Picks StreamLoan for Its Mobile-First Digital Application Initiative

100% Minority-Owned Lender Aims to Reduce Application Decision Times and Make The Lending Application Process Easier for Customers and the Back Office

SAN FRANCISCO, CA--(Marketwired - August 19, 2016) - StreamLoan, the home mortgage process acceleration company, today announced that Alterra Home Loans has selected its platform to drive a new mobile initiative aimed at reducing the headaches that most customers, loan officers, realtors and other 3rd party professionals experience when dealing with mortgage applications.

"Here at Alterra we are constantly seeking a better way to do things. Innovation is a part of every conversation as we understand that the next big idea can come from anywhere. That philosophy combined with our passion to help underserved markets has fueled our relentless pursuit of ways to streamline the digital workflow within our company," said Jason Madiedo, President and CEO of Alterra. "After reviewing a number of technology platforms, it was immediately clear that StreamLoan was the only company that could address our needs on all fronts. Our goal is to reach several additional billions of dollars in originations by greatly improving the borrower experience and simultaneously improving process efficiency. Together, we will re-imagine the home purchase process."

An End-to-End Enterprise Platform

While there are other companies focusing on the back-office side of mortgage lending or digitizing parts of the paper-laden application process, only StreamLoan has a dashboard-visible workflow that seamlessly connects the lending institution, the realtor and homebuyer. StreamLoan has created a comprehensive, mobile-first SaaS enterprise technology platform starting with the StreamLoan Financial Passport™ -- which is created and managed by the homebuyer and then easily shared with lenders when they decide to make a digital application. Not only does Passport improve a homebuyer's experience in making a first application, but in the event that he decides to apply to other lenders, or is forced to apply with another lender because he doesn't qualify or find the right financial mortgage product with the first lender, all following applications with other lenders would be just as easy. StreamLoan believes if the borrower wins, everyone wins.

StreamLoan Collaboration Suite™ offers seamless, instant communication across all of the professionals in the transaction, which spans not only chat, but enterprise workflow and enterprise content management. The enterprise policy management engine enforces role-based access controls across the platform, allowing for efficient and secure onboarding of users to aid in getting the mortgage done faster. StreamLoan Lender Suite™ provides all the tools to share underwriting guidelines and requirements effectively with borrowers all while delivering the best customer experience to borrowers, partners, and other stakeholders in the loan. Further, these powerful capabilities help deliver higher-quality customer service to borrowers -- and simultaneously grow top-line revenues for lenders.

"Alterra is a customer-focused, independent mortgage bank, so we don't have the giant engineering teams of the big lending institutions," said Larry Simpson, CTO of Alterra. "The largest banks have massive IT organizations. StreamLoan has a simple yet powerful platform that works with all legacy systems, is mobile first and 100% digital, which means a lot less overhead on our part to deliver. The time to value was almost zero as we were up and running in hours with them."

"The mortgage industry has scarcely changed in 100 years, and is ripe for innovation," said Stephen Bulfer, CEO and co-founder of StreamLoan. "We believe this all begins with the customer experience. StreamLoan's mobile platform takes a customer-first approach and puts the borrower in the driver's seat, enabling them to auto-complete many of the common loan application requirements by simply linking their relevant online financial accounts. The days of faxing and emailing bank and investment statements are over."

"For the lender, StreamLoan's technology platform plugs directly into its legacy systems and speeds processing times," Bulfer continued. "This combination of ease and speed can boost mortgage loan volume and velocity so that everyone wins. This community we have created is bringing unparalleled efficiency to the purchase process, allowing for new revenue and business growth across all professionals participating."

Visit StreamLoan at the Mortgage Collaborative Conference - August 20-23

StreamLoan will be in Denver next week at the 2016 Mortgage Collaborative Conference. Please send an email to sales@streamloan.io with interest to meet in Denver.

About StreamLoan

StreamLoan was founded in 2015 to bring a simple experience to getting a mortgage or loan. The company is based in San Francisco and is backed by top-tier VC funds including 500 Startups FinTech and several prominent individual investors across private equity, real estate, finance, FinTech and other technology industries.

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