Focus on Speed, Automate the Rest
Hosper Mortgage Success Story
Hosper Mortgage is a residential lender operating in Ontario. With a strong focus on speed of service, they’ve been rated as the top alternative lender in Canada for the last two years by the Canadian Mortgage Professional magazine and employ star talent that has been recognized by the industry as well.
Like many lenders, throughout their years in business, Hosper had to do a lot of the work manually, especially when it came to data input. As a result, speed and accuracy were the pain points they had to address in order to scale and get the recognition in the industry that they enjoy today.
When Hosper first heard of Mortgage Automator, they were using another software and had no plans to switch. But this quickly changed.
The importance of an open-minded approach
“Seeing how easy it was to create loan files, how easy it was to move them down the pipeline, seeing the possibility to automate emails and documents, the integration with our payment processing… From there, the conversation changed. It wasn’t “what can we learn”, it was “maybe we should make this bet”. I will always take a call with any vendor because even if you don’t pursue that vendor or that product, you could identify something that you haven’t thought of before,” recalls James Grantis, Director of Lending at Hosper Mortgage.
The open mind approach paid off as Hosper Mortgage became an early adopter of Automator and, after years on the platform, MA is now tightly interwoven with their daily operations. Initially, though, Hosper made sure that Automator ticked off their most important boxes. Their concerns about data privacy and sensitive information were addressed promptly and satisfactorily.
They also appreciated the two-way feedback exchange that helped Hosper optimize and improve their operations, and, in turn, helped Automator create some of the most widely-used features on the platform today.
Inspiration for growth
Continuing on their upward growth trajectory, Hosper applies the open mind attitude towards the new features released on Automator. As most of these features are influenced by the other successful lenders on the platform, they can serve as inspiration for new business development and growth ideas.
“With that open mind we try to say, okay, this is a neat product. And talking to some other Mortgage Automator clients, this is a product that they needed because this is what they do. Is there a potential that that’s something that our company can get in the business of doing as well? Is this an additional type of product that we can offer to our brokers? Having an open mind helped us with the number of different ways we’ve been able to integrate with the MA tool,” James told us.
Empowered by the growth mindset and always seeking new business opportunities, it’s no wonder that Hosper is often the first choice for many of the brokers they work with. Giving priority to the speed of service is crucial in the private mortgage industry, and Hosper Mortgage is equipped with all the right tools to stay on top of the game.