A New Year
A New Way
January 11, 2024
With a new year comes the excitement of all to come, lessons learned from the previous year, ambitious goals for the future and a fresh start to CHANGE.
At parpay, we are excited for all that lies ahead. There are so many new and exciting paths for our users and partners to explore within the parpay app. We are grateful and remain focused, more than ever, on our unique opportunity to expand our early income access benefit to thousands of Mortgage Loan Officers.
The mortgage finance business experienced a year of change. More like adaption really, with volatile mortgage rates, affordability challenges and historically low inventory. Most MLO's had to put on their thinking caps last year. Get smarter. Get faster. Get creative. Get educated. All while wondering when or where their next big commission check will come.
These are all causes of financial stress, which in turn, causes loss of productivity. Loss of motivation. Distraction. Worry. It's a fact. I've been there so I can safely say "I know", which are the primary reasons I launched the concept of on-demand income access specifically designed for Mortgage Industry Professionals.
Mortgage process technology (MPT) was off the chart in 2023. Multiple new CRMs rolled your way, in a big way. New LOS systems with slick new features allowing consumers and MLO's to execute a 1003 and loan package from just about anywhere in the world that has Wi-Fi. Easier secondary execution data tools. Comparative rate buy-down scenarios with fewer keystrokes and from any mobile device. Automated appraisal values. Stream-line income and asset verifications eliminating the need for any paper docs. Mortgage technology is coming from every direction. The target; fixed cost reduction and the end-user experience and retention.
The end-user experience is very important to MLO's because they want those buyers to come back for their next mortgage and their kids first mortgage and they depend on word-of-mouth referrals, more than ever. The huge by-product benefit to the MLO in all of this implementation is: (i) you can work from anywhere in the world (ii) the system makes you look good (iii) more efficiencies = more time prospecting .... but none of that helps to get you paid faster! We do!
We love pool parties - so, we came. However, our aim isn't the end-user. parpay is not about A better LOS system or solution to getting a loan approved, or a guarantee lead generator (all important btw). Our inspiration is genuinely focused to make a positive impact for the Mortgage Loan Officer. A direct and intentional benefit. A solution, a purpose to help Mortgage Loan Officers with cash-flow challenges as pipelines have ebbed. Adjusting household budgets swifty and quickly for many hasn't been fast enough. When household income changes or becomes less predictable the challenge of balancing the budget becomes a real thing especially after several months.
That is why we do what we do. To help you solve that challenge. You don't need to punish yourself with high interest borrowing, retirement savings borrowing, dipping into your 401K, missing important payments affecting your credit or falling behind on your financial goals. Cash-flow is a solution to balancing. A responsible solution.
Safely sign up, securely link up and dependably get paid up. 24/7 from any device.
parpay is a financial wellness solutions provider. We understand the mortgage commission cycles. We understand draws, claw-backs and tiered bps. Missed cut-off dates, split commissions and LOA pay. Our business platform was built specifically to verify earned commissions and pay those commissions in real-time to you, before your next pay which we know can be 29 days or longer. We offer several distribution options and delivery options, directly deposited into your checking account. The convenience cost is often less than the convenience to use a state toll or highway express lane.
We have set a high goal to positively impact 5,000 new Mortgage Loan Officers in 2024. We hope and ask that you will help us in meeting our business goal in 2024 by signing up, talking up, referring up and lifting up anyone who can benefit from our financial wellness business.
We would love to have you join our platform and start to transform your cash-flow budgeting. . . like never before!
#parpay #yourway #thenewway
Kind Regards,