•  – Our POS solution got even better.
•  – Technology will become more essential in the coming years.
•  – Software like this allows FAM to remain cutting-edge and competitive.

Cloudvirga, the cutting-edge digital mortgage point-of-sale (POS) software co-created by FAMily president Bill Dallas, has undergone a major update you should be aware of. The new design has improved upon lender speed, compliance and productivity, making the platform’s 4.0 release the most robust POS solution on the market!

As you know, technology isn’t going anywhere. In fact, it’s only set to ramp up in the years ahead, which is why it’s so important for Finance of America to remain innovative. Cloudvirga’s 4.0 release on April 2 will give loan officers the unprecedented ability to submit price concession requests and receive manager approvals in real time, at the point of sale, as part of the rate-locking workflow.

This new iteration will also automate the calculation of all qualifying ratios for VA loans, including IRRRLs, making Cloudvirga the first mortgage POS platform to accurately calculate DTI for VA loans to produce accurate loan disclosure. The software will further auto-generate disclosures, allow lenders to tailor the consumer digital experience and offer real-time compliance checks through PredProtect from First American Mortgage Solutions prior to generating loan disclosures.

Speed, accuracy and compliance are always essential in our industry. Streamlining a process to quickly and easily address these issues while utilizing technology platforms is the wave of the future. I’m so excited to see what Cloudvirga has in store for us, and how the FAMily can continue using this platform to combat the rise of online lenders.