MReport March 2019

TheMReport — News and strategies for the evolving mortgage marketplace.

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6 | TH E M R EP O RT MTECH deal is likely to generate around $900 mil- lion of run-rate cost savings and at least $500 million of revenue synergies. Upon closing, Jeffery Yabuki, current Fiserv President and CEO, will serve as CEO and Chairman of the Board of Directors of the combined entity. Frank Bisignano, the current Chairman and CEO of First Data, will assume the role of President and COO and will serve as direc- tor of the board of the combined company, which will be known as Fiserv. The combined entity will offer technology capabilities that enable a range of payments and financial services including account processing and digital banking solutions. Its capabilities will also include card-issuer pro- cessing and network services, e-commerce, integrated payments, and the Clover cloud- based point-of-sale solution. "Through this transformative combina- tion, we expect to redefine the manner in which people and institutions move money and information," said Jeffery Yabuki, President and CEO of Fiserv. "We expect this combination to catalyze and support an enhanced value proposition for our collec- tive clients and their customers." The combined entity will also explore integrated, complementary technology capabilities and solutions to enhance client value and increase market differentiation. Following the close of the transaction, the combined company expects to invest an incremental $500 million over five years to create significantly enhanced solutions for clients and accelerate growth. DocMagic and SNMC Partner for eClosing THE LENDER ACHIEVED ECLOSING BENEFITS THROUGH A SINGLE-SOURCE PLATFORM AND INTUITIVE UI PLATFORM. C alifornia-headquartered DocMagic Inc. and Security National Mortgage Corporation (SNMC) have an- nounced the successful rollout of Doc- Magic's Total eClose platform. Since rolling out Total eClose in September 2018, SNMC has reduced borrower time at the clos- ing table to as little as 15 minutes and has become one of the first national lenders to offer an eClosing solution that involves no paper whatsoever. It has sped up the closing process, ensuring accuracy and loan quality and delivering newfound efficiencies for borrowers, notaries, and settlement provid- ers. Total eClose enables SNMC's customers to preview documents before closing, eSign all documents, and complete both remote and in-person eNotarizations. "Our goal was to perfect a completely digital eClosing process, not to be just an- other 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 everyone—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 ap- proached the project as partners to ensure swift adoption and a quick understanding of the new workflow-driven eClosing pro- cess for both SNMC's staff and customers. DocMagic worked with the lender, leverag- ing its eMortgage expertise to help sculpt a unique strategy and a successful go-to- market launch. "Our implementation teams function like expert consultants—we work closely with each client, guiding them every step of the way," said Dominic Iannitti, President and CEO of 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 provid- ers—not only immediately after the imple- mentation but over the long haul as well." Fannie Mae's Focus on the Future THE GSE IS PARTNERING WITH ELLIE MAE TO EXPLORE HOW TECHNOLOGY CAN HELP TRANSFORM THE MORTGAGE INDUSTRY. E llie Mae has announced Fannie Mae as the sponsor of its Experience 2019 Developer Summit. The two-day event includes highly technical content designed for software developers and data scientists during the Experience 2019 User Conference, March 10–13, 2019 at Moscone West in San Francisco, California. During the Developer Summit, attend- ees will hear keynotes from Robbie Bach, Former Chief Xbox Officer at Microsoft, and Jeff Barr, Chief Evangelist at Amazon Web Services. "The Ellie Mae Developer Summit enables collaboration between Ellie Mae and Fannie Mae as we bring API access to our shared customers," said Henry Cason, SVP and Head of Digital Products for Fannie Mae. "Earlier this year we introduced Fannie Mae's new Developer Portal to enable lend- ers and technology solution providers to plug into our data and technology solutions

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