REI Loans

Challenge

Despite the significant impact that technology has on our daily lives, many people overlook the critical role that it plays in the real estate industry. However, REI Loans is changing this by bringing cutting-edge technological advancements to the forefront of the industry. Wanting to be proactive in evolving their services to meet the changing needs of their clients, REI Loans felt that by upgrading their technology, they could close more deals, provide better products and services, and ensure a user-friendly experience.

However, in order to achieve this, REI Loans needed a platform that accommodated the needs of three distinct user groups: potential originators, originators, and originator clients. And to ensure they remain competitive, the team needed a partner that could streamline their lending process and enhance their technology. JetRockets, with years of experience in the PropeTech sector, was the ideal partner to help them achieve their vision.

Solution

After assessing the needs of the REI Loans team, we developed a plan to create separate applications that communicate by API. These applications include:

Portal for Submitting Requests to Become an Originator

In streamlining REI Loans’ process for onboarding new originators, we integrated the RightSignature service into their platform. Here is a breakdown of the onboarding process:

• Interested candidates can fill out a form and submit it to REI Loans for review. This form serves as the first step in the onboarding process, as well as provides REI Loans with the necessary information in order to determine if the candidate meets their requirements.
• Once the form is submitted and reviewed, REI Loans creates a personal account for the candidate within their system. This account serves as a home for all future interactions between the candidate and REI Loans team members.
• If the candidate meets the requirements, the next step is to request a few documents and send an agreement for the candidate to sign. The integration with RightSignature simplifies this step by enabling candidates to digitally sign the agreement and upload any required documents directly into their personal account.
• Once the candidate has signed the agreement and uploaded any needed documents, REI Loans experts can approve the candidate with just one click, saving time for both REI Loans and the candidate.
• As soon as the candidate is approved, they will receive login credentials to access the originators’ portal. This portal provides new originators with the tools they need to start submitting loans and building their portfolio.

Portal for Originators

Recognizing that each originator has a unique set of clients, we knew the REI Loans team needed a tailored approach to manage them effectively. To address this, we provided originators with the following capabilities:

• Clients Base: Originators can store general information about their clients and all their applications in one place. This central home allows them to easily manage their clients and streamline their loan application process.
• Ability to Create Applications: We designed a user-friendly interface for submitting and processing loan applications. Originators can control the third-party companies list, upload necessary documents, pay fees, and more, making the application process as seamless as possible.
• Applications Pipeline: This feature allows originators to track the status of their applications at every stage of the process. This ensures that they’re always aware of where each application stands and can take necessary actions to keep the process moving forward.
• Quick Pricing: This smart service for getting a preliminary quote is a valuable tool for consulting with clients, and allows originators to provide clients with an estimate quickly, helping them make informed decisions about their financing needs.

Portal for Originators’ Clients

As REI Loans understands that clients want to stay informed and involved in the loan application process, we developed this portal to enable clients to:

• Update application Information
• Upload Documents
• Pay Fees
• Note Information about Third-Parties’ Companies Information
• Provide information about their Real Estate Experience
• Submit Draw Requests

Results

Today, REI Loans successfully provides loan originators access to both cutting-edge technology and an unlimited source of capital. Together, we created a platform that is seamless for all users, from potential originators to originator clients, and enabled the REI Loans team to close more deals faster, offer competitive products, and provide high quality service.

Going from Project to Partner

Today, REI Loans and JetRockets continue to collaborate. By combining our resources and expertise, we are able to provide innovative solutions that help the company achieve success for themselves and clients alike. We provide necessary updates to the company’s technology and maintain the partnership for future REI Loans projects and software advancements.