New Year, Same Vision Part 2: Faster Without Compromise

In today’s fast-paced lending environment, speed isn’t just a nice-to-have, it’s essential. At Wilqo, one of our founding resolutions was to build a platform that enables users to move faster without compromising accuracy or compliance.  We have done that with Charlie. By leveraging automation, dynamic workflows, and intuitive design, we’re empowering teams to get more done in less time.

Let’s take a closer look at how Charlie's FHA and VA calculations and dynamic checklists are making this resolution a reality.

FHA and VA Calculations: Complex Made Simple

When it comes to FHA and VA loans, precision is critical. Calculations like maximum loan amounts, MIP, Funding Fees and residual income requirements are non-negotiable, but they’ve traditionally been prone to input errors time-consuming to complete.

We have changed that by embedding these calculations directly into the workflow. For example:

• FHA Loans: Whether it’s a streamline refinance or a purchase, Charlie dynamically calculates factors like seasoning, loan limits, and MIP. These calculations are presented in real-time, ensuring compliance while reducing the need for manual intervention.
• VA Loans: Our platform automatically handles NTB (Net Tangible Benefit), Seasoning requirements, and Residual Income. All relevant details are consolidated into a single view, so users can input data once and let the system do the heavy lifting.

By automating these calculations, Charlie eliminates manual steps that previously bogged down the process, allowing users to close loans faster and with greater confidence.

Dynamic Checklists: A Tailored Approach

One-size-fits-all checklists don’t work in lending. Every loan is unique, especially FHA and VA loans, and irrelevant steps only slow teams down. That’s why we introduced dynamic checklists that adapt to the specifics of each loan.

Here’s how it works:

• Conditional Visibility: Steps that aren’t relevant to the loan type or borrower profile are automatically hidden. For example, if a borrower (or co-borrower) has never served in the military, any steps related to verifying military income won’t appear.
  
  
• Smart Navigation: Checklists are dynamically updated based on the loan’s progress, ensuring that only the next most critical tasks are visible. This keeps users focused on what matters without distractions.
  
  
• The correct documents to complete the applicable review are presented in the same workspace, reducing time in searching out paystubs, bank statements, etc.

The result? Teams can move through tasks more efficiently, avoiding unnecessary clicks, and ensuring that nothing is missed.

Faster Without Compromise

By automating calculations and tailoring workflows, we help lending teams work faster while maintaining the highest standards of accuracy and compliance. This isn’t just about saving time, it’s about enabling teams to focus on the work that truly matters, like building relationships with borrowers or solving complex issues.

Speed doesn’t have to come at the expense of quality. Here’s to a year of moving faster and working smarter, together!