SimpleNexus' momentum accelerates in 2020 with one in eight U.S. mortgage loans passing through its homeownership platform

LEHI, Utah, Feb. 4, 2021 /PRNewswire/ -- SimpleNexus (https://simplenexus.com/), developer of the leading homeownership platform for loan officers (LOs), borrowers, real estate agents and settlement agents, today announced accelerated momentum in 2020 marked by expansive market growth and product innovation.

"The reason SimpleNexus continues to sweep the mortgage space is that it is the single-most complete homeownership journey platform for homebuyers and a relentlessly efficient lender tool," said Founder and CEO of SimpleNexus Matt Hansen. "From home search to application and from eClosing to securing homeowners insurance, SimpleNexus is truly a one-stop homeownership hub."

SimpleNexus has become one of the nation's fastest-growing firms, having ranked on the Inc. 5000 for three consecutive years and the Deloitte Technology Fast 500 for two consecutive years. The firm's 2020 growth was capped by a $108 million Series B funding round led by Insight Partners and supported by TVC Capital.

"SimpleNexus has established itself as a fast-paced innovator in the digital mortgage space," said TVC Capital Co-Founder and Managing Partner Jeb Spencer. "First it set the gold-standard for on-the-go usability and now it's defining what a seamless homeownership platform should be. We are excited to support the company as it blazes the trail to creating a harmonious homeownership journey."

SimpleNexus grew staff by 63% over the last 12 months as it worked to enhance its platform with dozens of new features designed to facilitate a more streamlined, "from anywhere" lending experience for all stakeholders in the mortgage lending process. For instance, last February saw the addition of Uniform Residential Loan Application (URLA)support and in-app review of Fannie Mae's Desktop Underwriter® (DU®) findings. July marked the release of SimpleNexus ConnectUs Chat, a messaging feature that supports real-time loan file collaboration between LOs, borrowers and real estate agents. In August, SimpleNexus debuted SimpleNexus eClosing, which enables hybrid and RON closings for purchase and refinance loans.

Also in 2020, an independent, third-party analysis conducted by MarketWise Advisors showed that lenders using SimpleNexus consistently produce more loans and spend less on per-loan operational expenses, receiving nine-times ROI from their spending on the platform. SimpleNexus maintains 98% customer retention, a rare feat in the SaaS world.

To date, SimpleNexus empowers 300 mortgage lenders to "do more," by connecting its 32,000 active LO users with more than 3 million borrowers and 141,000 real estate partners to produce 13 million mortgages totaling more than $3 trillion in volume.

About SimpleNexus, LLC:

SimpleNexus is a homeownership platform transforming the mortgage experience and connecting borrowers, loan officers, real estate agents and settlement service providers throughout the homebuying process. The platforms' native mobile toolset enables lenders to originate, process and close home loans from anywhere with increased efficiency and convenience. Loan officers can manage their loan pipelines, order credit, run pricing, send pre-approvals, sign disclosures and execute eClosings - all on the go. SimpleNexus provides borrowers with a single sign-on experience from home search to the application, document upload, eClose and beyond for a more streamlined homeownership journey.

Twitter: @SimpleNexus #digitalmortgage #mortgageindustry #mortgagelending

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SOURCE SimpleNexus

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