MReport May 2019

TheMReport — News and strategies for the evolving mortgage marketplace.

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6 | TH E M R EP O RT MTECH risk and controls assessment solution to streamline processes and enhance compliance risk management and controls among its affiliate banks. Wolters Kluwer said that its regulatory change management platform, OneSumX, will help Central Bancompany track regula- tory changes, map them to the appropriate lines of business, and monitor the implementation of the changes in one system. The solution features structured regula- tory content provided through a data feed and a software platform that supports regulatory change management. Wolters Kluwer said that its content experts review and organize important regulatory con- tent in a way that makes it easy to quickly assess how a change may affect the bank, which sets it apart from other regulatory change management platforms. "As we continue to evolve our compliance management system to fit the size and complexity of our organization, the necessity to enhance our second line of defense and change management to become more streamlined, ef- ficient, and structured throughout our organization became appar- ent," said Shannon Thomason, SVP, Chief Compliance Officer at Central Bancompany. "Adding these solutions gives us immedi- ate transparency and connectivity into the array of regulatory rules and developments impacting our business, and allows us to re- spond in a coordinated, compliant manner." Central Bancompany is also us- ing OneSumX Risk and Controls Assessment, which combines a regulatory framework with organizational controls to create a platform for managing enterprise compliance risk. The solution provides risk and controls content designed for the financial services industry that can be used as both a starting point for assessments and as a benchmark throughout the risk management process. "These offerings illustrate our longstanding commitment to providing financial institutions like Central Bancompany with reliable options for managing their risk and regulatory compliance efforts," said Chuck Ross, VP, Compliance Program Management for Wolters Kluwer. "Given the volume, breadth, frequency, and depth of regulatory changes facing banks today, access to automated, up-to-date, and comprehensive content is critical for keeping pace in today's ever-changing regula- tory environment." E-Signatures, Made Easy SNAPDOCS USES ADVANCED AUTOMATION AND MACHINE LEARNING TO DETERMINE WHICH DOCUMENTS CAN BE E- SIGNED AND WHICH CANNOT. W ashington-based Evergreen Home Loans has adopted Snapdocs' technology to facilitate e-signings and improve its customer satisfaction, according to the San Francisco-headquartered mortgage tech provider Snapdocs. Evergreen Home Loans is a full- service direct home loan lender offering origination, funding, and home loan servicing with offices in six western states. The adoption of this technology is designed to deliver a more integrated and seamless home closing process to Evergreen's customers in Washington, Nevada, California, Idaho, Oregon, Arizona, and Alaska. "The mortgage industry is rapidly evolving to keep up with the fast-paced, always-on world in which we operate, and we are excited to be at the forefront of that evolution," said Aaron King, CEO of Snapdocs. "We've focused on modernizing the home closing process by creating one platform for title agents, lenders, and buyers." Snapdocs provides its closing technology platform for lenders, ti- tle, and settlement companies and facilitates over 50,000 loan closings a month through its platform, which uses advanced automation and machine learning to deter- mine what documents can be e-signed, which documents need to be wet-signed, and to prepare the entire package for preview prior to closing. Additionally, the platform can process packages from any document provider, as well as scanned originals. With this announcement, Evergreen Home Loans has fully adopted Snapdocs' platform, processing 100 percent of home closings using its innovative tech- nology. "Our homebuyers' satisfac- tion is the driving force behind using Snapdocs on such a large scale," said Tamra Rieger, EVP, Loan Fulfillment at Evergreen Home Loans. "Snapdocs saw a challenge in the market and solved it in a way that leads to operational savings and time savings when it comes to the home closing process," Rieger said, noting that Evergreen works with over 1,000 settlement agents alone, all with their own processes.

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