Floify launches tool to streamline mortgage applications, support compliance

“We see allowing lenders to collect information specific to the type of loan they are originating as a game-changer, streamlining the approval process and providing a red carpet experience for loan applicants,” said Sofia Rossato, president and general manager of Floify.

“In essence, Dynamic Apps supports easily configurable, no-code application types that reduce application fallout and ultimately help lenders do more business.”

Traditional mortgage applications often require borrowers to answer questions irrelevant to their loan type. Dynamic Apps addresses this by prompting applicants to specify their loan purpose — such as purchase or refinance — at the outset.

Based on the response, the system adjusts the application and displays only relevant information. The feature also allows lenders to create custom questions for specialized loan products, including nonqualified mortgages and home equity lines of credit (HELOCs).

With HELOCs, Dynamic Apps integrates compliance measures by incorporating HELOC-specific disclosures and triggering workflows tailored to those applications.

Lenders can configure which questions to include, require or disable based on the borrower’s initial loan selection. Floify said it plans to expand the tool later in 2025 to accommodate additional loan application workflows.