MReport November 2018

TheMReport — News and strategies for the evolving mortgage marketplace.

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6 | TH E M R EP O RT MTECH The online portal is now open and accessible to NCBA mem- bers. Member firms can access a dashboard that shows courses completed, in progress, or not yet viewed by their staff mem- bers. Modules may be revisited and completed at the user's pace. NCBA members can log in to their NCBA online accounts to access the portal. Lenders One Partners With DocMagic for eClosing WITH DOCMAGIC, LENDERS ONE CAN NOW OFFER A COMPLETELY PAPERLESS CLOSING FOR BORROWERS, LENDERS, AND INVESTORS. L enders One Coopera- tive, a national alliance of independent mortgage bankers, announced the launch of the Lenders One eClosing by DocMagic, a complete eClosing solution for borrowers, lend- ers, and investors. The eClosing solution provides an entirely paperless workflow that inte- grates every component of the closing process and guides users through each step. The solution was launched during the Lenders One Summer Conference in Salt Lake City, Utah. According to a Lenders One statement, "When using the solution, the average loan closing 'at the table' can be reduced from 60 minutes to 15 minutes, helping to dramatically improve the bor- rower experience." "Our eClosing technology puts Lenders One members at the forefront of the eMortgage evolution, a sought-after capability made possible through our col- laboration with DocMagic," said Michael Kuentz, CEO of Lenders One. "Importantly, the eClosing solution incorporates feedback received from our members and service providers, helping ensure we address their needs. Our com- prehensive eClosing solution pro- vides our members with options to choose full eClose or hybrid eSign/ink-sign workflows. The technology adapts to the lender's production environment and compresses the overall timeline to loan sale, generating material sav- ings for lenders facing historically high loan-production costs." The solution includes features such as integration with major LOS platforms to generate e-enabled documents and an embedded com- pliance engine that automatically audits documents and data against applicable industry laws and regula- tions to help ensure compliance throughout the loan lifecycle. Other features include eNotary technology for in-person electronic notarization or remote online nota- rization where permissible; the abili- ty to deliver a MISMO SMARTDoc eNote with direct connectivity to the MERS eRegistry; and a secure, certified eVault which provides long-term storage and eDelivery to warehouse banks and investors and features a date-stamped and time-stamped audit trail to help show proof of compliance at all times. "Effective implementation of eClosing begins with a well-de- fined eMortgage strategy, and by working in concert with Lenders One, we are helping originators set up their eClosing production lines at a pace, and in a manner that is consistent with their over- all business goals," said Dominic Iannitti, President and CEO of DocMagic. "The deep working relationships that Lenders One has established with its members are critical, and through our combined strength, we are accel- erating the eMortgage journey for progressive lenders nationwide." Home Bank Implements Mortgage Cadence LOS Platform THE BANK HAS ADOPTED THE ONLINE LOAN ORIGINATION SYSTEM FROM MORTGAGE CADENCE TO NAVIGATE FROM THE APPLICATION THROUGH THE CLOSING PROCESS. H ome Bank, the Denver- based subsidiary of Home Bancorp, Inc., announced it implemented the Loan Fulfill- ment Center (LFC) from Mortgage Cadence, an Accenture company. Available through the Mortgage Cadence cloud for swift accessibil- ity, LFC is a retail loan-origination platform capable of handling mortgage requirements from ap- plication to closing and delivery. After a 90-day implementation, Home Bank is now live on the platform and is also using its integrated Borrower Center, an intuitive online origination portal, the bank said in a statement. "Given the highly competi- tive industry we serve, lenders must have technology that fits their needs not just today, but for many years to come," said Trevor Gauthier, President and COO of Mortgage Cadence. "While some companies offer just one loan origination system (LOS), Mortgage Cadence is well positioned to meet the diverse needs of our customers, thanks to our two different LOSs, Loan FulfillmentCenter, and Enterprise Lending Center. LFC offers out-of-the-box functionality that a smaller administrative team can quickly personalize. It is the perfect fit for Home Bank." Two of LFC's key components are Borrower Center and Virtual Loan Folder. Borrower Center is an easy-to-use origination tool that, among other things, allows loan officers to add a "click here to ap- ply" button in their signature files and launch their own personalized origination sites to capture busi- ness from consumers and business partners. Virtual Loan Folder is an electronic document classification tool that eliminates many manual processes, including the print- ing, scanning, and repackaging of documents, and can be set up to meet nearly any investor's require- ments. "Mortgage Cadence's Customer Relationship team proactively identified that, as our needs had evolved, the Loan Fulfillment Center was now a better fit for us," said Melissa Reynolds, Mortgage Lending Coordinator and Training Director at Home Bank. "It was incredible to have them watching our workflows so closely that they were able to guide us to a better solution, not to mention how quickly they were able to get us up and run- ning on the new platform. They have far exceeded our expecta- tions as a solutions provider." Team Helps Drive $39B in National Sales A NATIONAL REAL ESTATE AUCTION MARKETPLACE WITH LOCAL OPERATIONS THROUGHOUT THE COUNTRY, AUCTION.COM HAS BEEN THE PLATFORM FOR $39 BILLION IN SALES OVER THE PAST 10 YEARS. A said its team has driven $39 billion in national sales. Over the past 10 years,'s brand has become synonymous with digital innovation and cli- "Given the highly competitive industry we serve, lenders must have technology that fits their needs not just today, but for many years to come." —Trevor Gauthier, President and COO, Mortgage Cadence

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