Customer story
The Funding Booth: A Junior Underwriter That Lives in His Pocket
Chapters
Transcript
What Bob Booth said on camera, by chapter. Captions are lightly corrected for product and company names.
Full transcript
A junior underwriter in his pocket
So we use it mostly as like a replacement for, I would say, like a junior underwriter or a processing agent, right? So, you know, it's a great system in the sense of whatever application you have, all vendors have different applications, right? So whatever application you have, whether it's a handwritten one or electronic, as long as it's signed properly and it has the information that's needed, we just send it to Kaaj using that submissions email and attach the application. And then from there, within a couple minutes, I'm able to spread the file out and look at everything right out of the get-go. So I don't have to manually pull credit. I don't have to look up the SOS. If I have bank statements, I don't have to, you know, scroll through the banks to see everything's analyzed there. And those are things that
A credit read in front of the vendor
If I'm on the road too, I can send in the application and I can look right at it on my phone. I've been in front of a few vendors before and, you know, they have an app and I'm like, okay, cool, let me take a look at it. And I'll send it to the submissions portal. And then within like three minutes, you know, you know, just small talk the vendor for a few minutes. And then I'm like, oh, hey, the deal's ready to be looked at. Let me take a look and see what we can do. And then right then and there you're able to say, this is a deal I can get done. It's going to be a good, solid rate or this isn't a deal I can get done or this is a deal I can get done, but it's not going to be the prettiest terms. So to be able to do that in a matter of minutes versus, you
The ROI: about $40K a year
I would say the bigger your firm is, and the more applications you process, the more money you're going to save, right? The more time you're going to save. For us, I think what we pay is definitely worth what, you know, what's being offered. And it saves us a ton of time. It saves us the anxiety of getting an application at night and not being able to process it after hours, you know, for out of the office or something. So all in all, it's, you know, it's hard to put a number on the, you know, return on investment. But I mean, if we really wanted to quantify it, if we have a processor or two processors, you know, that could be like 40 grand a year, just in savings, you know, for the processor, right? Obviously, Kaaj comes with a price too, but yeah, I mean, it's time is money. And for us, it saves us a lot of
Why he recommends Kaaj to brokers
Oh, yeah, I have many times. Yeah, I recommend you guys to anybody who is processing a fair amount of apps. On the broker side, it's going to save you a ton of time. It's going to save you a bunch of headaches. It's going to keep you in more compliance. It really has everything that you need to be successful. And the platform is really about what you put into it too, which is cool because the more lenders you have, the more complex your decision making gets and Kaaj makes that really easy to navigate, especially if you have a, you know, a lot of lending partners that you lean on. From a lender's perspective, I mean, I was, I worked for a direct lender first in this space. And, you know, there was a handful of people sitting at desks processing applications manually.
Consistent, and never out sick
So, if you can replace that with consistency and, you know, everything about Kaaj is consistent, right, you know, in five minutes, you're going to get the decision. Whereas if you have a human behind the scenes making the decision, or, you know, processing the application, it may not be five minutes, maybe they're busy doing something, you know, Kaaj has the ability to to process multiple apps at once. And it's just, you know, it's a consistent model that shows up every day to work, you know, it's never sick, like, you know, those things make a difference.
