MReport February 2019

TheMReport — News and strategies for the evolving mortgage marketplace.

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6 | TH E M R EP O RT MTECH Evolving eClosings DOCMAGIC AND SECURITY NATIONAL MORTGAGE CORPORATION WORK TO REDUCE BORROWERS' TIME AT THE CLOSING TABLE. C alifornia-headquartered DocMagic Inc. and Se- curity National Mortgage Corporation (SNMC) have an- nounced the successful rollout of DocMagic's Total eClose platform. Since rolling out Total eClose in September, SNMC has reduced borrower time at the closing table to as little as 15 minutes and has become one of the first national lenders to offer an eClosing solu- tion that involves no paper what- soever. It has sped up the closing process, ensuring accuracy and loan quality, and delivering new- found efficiencies for borrowers, notaries, and settlement provid- ers. Total eClose enables SNMC's customers to preview documents prior to closing, eSign all docu- ments, and complete both remote and in-person eNotarizations. "Our goal was to perfect a completely digital eClosing pro- cess, not to be just another lender offering a basic hybrid closing," said Steve Johnson, President of SNMC. "Achieving our goal required a powerful end-to-end technology, a perfectly executed seamless implementation, and an intuitive interface that every- one—staff, settlement service providers, and borrowers—could use immediately, without a steep learning curve. The DocMagic implementation team was with us all the way. We never had to worry about a thing." The two companies said that they approached the project as partners to ensure swift adoption and a quick understanding of the new workflow-driven eClosing process for both SNMC's staff and customers. DocMagic worked with the lender, leveraging its eMortgage expertise to help sculpt a unique strategy and a successful go-to-market launch. "Our implementation teams function like expert consul- tants—we work very closely with each client, guiding them literally every step of the way," said Dominic Iannitti, President and CEO, DocMagic. "There is a huge number of moving pieces in an eClosing solution. As a single source solution, we have intricate knowledge of every one of them, so there are none of the issues that plague other providers—not only immediately after the imple- mentation but over the long haul as well." Moving Forward With Reverse CLASS VALUATION'S ACQUISITION OF LANDMARK NETWORK WILL GIVE THEM AN EDGE IN REVERSE MORTGAGES. M ichigan-based Class Valuation, a nationwide provider of real estate asset valuation and appraisal man- agement solutions to the residen- tial mortgage industry, announced that the company has acquired California-based Landmark Network—a real estate valuation firm with a specialization in the reverse mortgage lending industry. "As we continue to execute our innovation strategy, we will take great interest in those firms that excel in service and reputation in markets we believe in," said Michael Detwiler, CEO of Class Valuation. "With an impressive list of clients, including a meaning- ful percentage of the industry's top reverse mortgage lenders, Landmark has done a fantastic job delivering quality, service, and reverse valuation products backed by innovative technology. That's the kind of specialization and expertise we're seeking as we continue to expand our footprint," Detwiler said. Landmark Network was launched with the vision of providing financial services com- panies with a superior solution for their appraisal management Paving the Way for the Future Introducing the tech, tools, and advanced solutions that are innovating the industry.

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