Citizens Bankwhich after its acquisition became one of the largest mortgage companies in the country Franklin American Mortgage last year, dive headfirst into the digital mortgage revolution.
This week Citizens unveiled a comprehensive new digital mortgage experience that enables borrowers to apply for and manage their mortgages online.
But that’s not the only part of real estate buying that Citizens is digitizing. The bank is now also offering to help borrowers find their next apartment.
In addition to launching the digital mortgage platform, Citizens is launching an online home shopping portal that will allow customers to browse property listings across the country and match them with a local real estate agent.
According to Citizens, the home shopping platform is integrated into the mortgage platform, which enables a “more rational buying experience”.
In addition, the bank offers qualified customers rewards of up to US $ 6,500 for using the online home shopping portal, which is part of a program the bank calls “Your Home Rewards”.
According to the bank, “Your Home Rewards” is in collaboration with. offered HomeStory real estate services, a licensed real estate agent. To earn the cash reward, customers must use a network real estate agent to complete the purchase and / or sale transaction.
And the range of rewards varies by state as well as the size of the loan. Offer is not available in Alaska, Iowa, Louisiana, and Missouri. In the states of Mississippi, New Jersey, Oklahoma, and Oregon, a brokerage fee reduction, rebate, and / or credit may be granted in lieu of premium.
Kansas and Tennessee awards must be presented by gift card according to the bank. And in Kansas, the reward is capped at $ 1,000 regardless of the property’s sale price.
But once a customer has chosen their property, or even if they are not using Citizen’s home shopping services, the customer can use Citizens’ new digital mortgage application platform.
The digital mortgage application provides web-based document collection and validation of wealth, income and tax data through secure login and real-time co-browsing with a loan officer to help fill out the application.
According to the bank, their digital mortgage platform is powered by mixture, the digital mortgage software company supporting the digital mortgage process for a growing number of lenders.
Once the mortgage is closed, borrowers can manage their loan through Citizens’ mobile app, which allows them to make payments through the app and with access to neighborhood data, price trends, school statistics and more. List notifications to stay up to date.
The mobile mortgage service platform is operated by Black Knightsaid citizens.
According to the bank, the suite of digital tools is available immediately.
“Buying a home is one of the biggest financial and personal decisions in life, and it can also be one of the most stressful,” said Eric Schuppenhauer, President of Home Mortgage at Citizens Bank. “By creating a digital experience that simplifies the home buying process, we can tone down some of its toughest aspects so our customers can focus on what really matters – finding a place to call home.”