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We've curated answers to some of our most frequently asked questions
Sonar is an all-in-one mortgage origination platform meant to streamline every step of the process. Sonar combines an LOS and POS technology into a single digital platform with 30+ API integrations—making it easy to make sure your customers qualify.
Getting a customer to close is a complicated process. But while you're holding your customers’ futures in your hands, you're forced to use slow, crumbling, unconnected roads to get them over each hurdle. Sonar is one powerfully unified solution that dramatically reduces the time and effort needed to originate and close a mortgage.
Sonar works with mortgage brokers and lenders who want to close mortgages faster and easier, without tracking multiple platforms, chasing down documents, or manually re-entering data.
Before underwriting, mortgage applicants will need to submit documents including:
Your Sonar pipeline is fully customizable. You can choose what columns to display and apply filters. When you have it set just how you like it, save your pipeline layout for easy access.
The Sonar portal can accept PDF, JPEG, PNG, CSV, and Word documents.
If you need to make a change to a document, do so outside the platform and reupload. However, the Sonar document feature does allow you to merge multiple documents into a single PDF for easy submissions to lenders.
The Sonar platform makes it easy to send documents to your clients as they reach different milestones. Send disclosures, rate lock requests, borrower conditions, and appraisal links to your clients' emails without leaving the portal.
Sonar has over 30 API integrations to help you pull in and validate all your necessary inputs. Connect with e-sign software, credit bureaus and data providers in the platform.
Sonar provides an LOS and POS for every customer out of the box, making it easy to keep documents in a single ecosystem. Our robust integrations make it easy to work with your preferred CRM, PPE, and other key systems throughout the mortgage process.
If you need help setting up Sonar, our sales team can help.
Sonar takes data security seriously. We employ a number of technical, organizational and physical safeguards designed to protect the personal information we collect.
Sonar is easily customized and configurable to your company’s needs. Our adaptable brand system allows you to create an experience that mirrors the look and feel of your brand, so your team and customers always feel right at home.
Sonar always comes with both a POS and LOS meant to work together. However, if you want to use the POS functionality while keeping a system of record in a different LOS provider, Sonar can export documents.
Sonar integrates with your email client, making it easy to send documents to borrowers after they reach different milestones in the mortgage process.
A loan origination system is designed to usher a loan application from origination to closing. An LOS helps mortgage brokers and lenders generate loan documents that comply with both regulatory and internal requirements, as well as monitor loan progress, house documents, and automate workflows.
An automated loan underwriting system (AUS) analyzes a borrower's financial information, a property's value, and other lending determinations. The AUS then approves or denies a borrower. A loan origination system (LOS) helps generate the documentation that goes to underwriting, as well as all other documentation necessary for closing. In the mortgage process, underwriting is only a small (but important) part in the middle of loan origination.
Keeping both your CRM and LOS updated can be challenging. Manual updates can mean one system isn't up to date. An integration between a mortgage CRM and an LOS makes sure that any changes to loan data can be synced across platforms. For example, if a loan has been sent to underwriting through your LOS, this will be reflected in your CRM.
Loan originations systems should act as the central hub of information throughout the origination process. Sometimes this means you'll need to connect other products to your LOS. Most often, these integrations include a point of sale system (POS), a product pricing engine (PPE), an automated underwriting system (AUS), a document and esignature manager, and a customer relationship manager (CRM).
Integrating a point of sale system with a loan origination system effectively streamlines the process of finding, qualifying, and closing mortgages. Combining the two software operations can allow you to serve more clients without sacrificing quality. A POS can help qualify leads and guide them through the loan application, and then the LOS functionality takes a completed loan application through to closing.
Get in touch to learn how our all-in-one mortgage loan origination software can turbocharge your business.