Prestigious Awards Program Recognizes Outstanding Financial Technology Products and Companies
Qualia, the leading digital real estate closing company, announced that Qualia Post, which streamlines the lender’s transactions during the closing and post-closing process has been selected as the winner of the “Best Digital Mortgage Product” award by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today.
Qualia Post, automates the collection of trailing documents, creating a streamlined process that saves valuable time for lenders. Additionally, Post makes it easier for all those involved in the post-closing transaction, particularly lenders and title companies, to collaborate more efficiently.
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“The entire mortgage and home loan process is ripe for disruption and Qualia Post is a true ‘breakthrough’ product that tackles the difficult task of improving and streamlining the closing and post-closing process for lenders,” said James Johnson, Managing Director, FinTech Breakthrough. “Qualia Post automates the process so that document requests take place without delay and are exchanged the same way each time, using a secure, cloud-based portal. Their tech is creating uber-efficiency for all parties involved, including helping build better relationships between lenders and title companies. Their platform makes Qualia Post the stand-out winner when it comes to ‘Best Digital Mortgage Product’ and we congratulate the company on their well-deserved 2020 FinTech Breakthrough Award.”
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more. The 2020 FinTech Breakthrough Award program attracted more than 3,750 nominations from across the globe.
“The exchange of post-closing trailing documents is an excellent use case for automation because the process is time-intensive, repetitive, and prone to human error,” said Nate Baker, co-founder and CEO of Qualia. “While most real estate technology companies are focused on the beginning of the home buying process, we are committed to making the historically complicated closing process easier from start to finish. We are extremely pleased to have FinTech Breakthrough recognize our unique approach and ‘breakthrough’ technology.”
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Qualia Post integrates with a lender’s Loan Origination Systems (LOS). Once funding is complete and the signed closing documents are ready, Post requests the trailing documents from title companies. Title companies then log into a simple, secure interface to share documents, which automatically flows back into the documents section of the lender’s LOS. Upon transfer, Post notifies the post-closing team that trailing documents are ready for review. As an added service component, Qualia representatives follow up with title companies that do not fulfill their document requests in a timely manner.
Along with eliminating the hours of effort involved in coordinating numerous post-closing processes with a variety of title partners, lenders using Qualia Post have reported reducing time per transaction in the post-closing stage by 25 percent. Qualia’s team of top software engineers, real estate professionals, and user experience experts are improving how real estate is transacted, streamlining the closing experience, removing stress from home buying, and making the process transparent and secure.
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