min read

New: Instant Insurance Policy Changes for Canopy Connect Mortgage Solutions

Published on

October 12, 2023

Contributors

Ray Huang

Head of Marketing

Ray is the Head of Marketing at Canopy Connect and has helped dozens of startups and growth companies over his 20-year career to develop strategies and implement tactics that yield high-impact results.

Putting customers first, Canopy Connect is proud to announce a groundbreaking feature that allows mortgage servicers and home lenders to make changes to homeowners’ insurance policies using Canopy Connect's consumer-permission technology. This innovative solution aims to streamline the loan approval process, reduce costs, and eliminate obstacles in closing and servicing loans.

“We’ve listened to the feedback from our lending partners and found a way to cut days off the loan approval time and reduce cost. By enabling the ability for lenders, loan servicers, and banks to request insurance edits directly from the borrower, we’re removing bottlenecks in closing and servicing loans.”
Tolga Tezel, Founder and CEO of Canopy Connect

Cutting Loan Approval Time and Reducing Costs

Canopy Connect's latest feature cuts the lengthy back-and-forth communication—giving lenders back valuable time while providing customers with a seamless experience at the click of a button. By significantly reducing loan approval times, mortgage servicers can effectively minimize closing costs, maximizing their productivity and profitability within a given day.

Instant Confirmation

With Canopy Connect's consumer-permission technology, borrowers receive instant notifications to confirm or deny requested changes to their insurance policies. Previously, a simple change to the lien holder would take three to five business days, causing delays in loan processing. However, with Canopy Connect’s process, changes can be completed within minutes. This efficiency ensures a smoother and faster loan approval experience for both borrowers and lenders.

Streamlined Mortgage Solutions

Canopy Connect's mortgage solutions offer lenders and servicers the ability to verify and monitor homeowners' insurance information in seconds from more than 91% of the homeowners' insurance market.

Instead of requesting declaration pages and documents from the borrower, they can instead sign into their current carrier through your customized link and automatically share all relevant insurance documents and data with their lender in seconds.

Canopy Connect's latest feature empowers mortgage servicers and home lenders to instantly change homeowners insurance policies, removing friction from the loan approval and servicing process.

Experience the future of mortgage servicing with Canopy Connect.

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