New iPad App Enables Mobile Loan Applications

This article is culled from American Bankers Websites:

Since the introduction of the first iPad in 2010 — and the tablet craze that's ensued ever since — the idea that secured loan officers and brokers could one day have the ability to take loan mortgage applications with mobile technology has been a concept that's held much promise. But it's also mired in a belief that widespread use of tablets is a distant evolution for an industry that's notoriously slow at adopting new innovations.

Now, on the heels of the much-anticipated release of Apple's third-generated iPad, an Austin, Texas-based eloan and home mortgage technology upstart believes the impending launch of its iPad application will be the catalyst for tablet adoption by loan originators.
The MobileLO iPad app is a point of sale application that allows loan officers and brokers to enter the data fields of a Uniform Residential Loan Application (Form 1003), generate a Good Faith Estimate and other federal and state-specific disclosure documents, pull the applicant's credit report and collect electronic signatures.