TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1253630
M R EP O RT | 5 MTECH Automation platform is designed for organizations that wish to automate and accelerate document processing to improve their busi- ness operations and reduce costs. Agile Mortgages is being success- fully used by banks and other lenders to dramatically improve the speed of back-office mortgage processing while improving accu- racy by reducing loan defects. "Today, more than ever, the mortgage industry is embracing automation as a necessity," com- mented Ben Cowen, President at Wyndham Capital Mortgage. "We have long been a leader in using technology and robotics to transform our processes and move them into a place where they show real benefit to all involved, from loan officers to consumers." "Wyndham is a great partner to work with. They are commit- ted to their automation vision and demand significant and measurable return on investments from any robotic processing and AI invest- ments they make. We are really excited to have reached production usage with Wyndham and to be part of their plans for further ex- pansion based around our cognitive robots," said Steve Butler, President and founder, AI Foundry. Home Point Financial Extends Ellie Mae Partnership ELLIE MAE NOW HAS 13 OF THE TOP-20 LARGEST INVESTORS AS AN INVESTOR CONNECT PARTNERS. E llie Mae, a cloud-based loan origination platform provider for the mortgage industry, announced that Home Point Financial, a national mort- gage originator and servicer, is the newest partner to leverage Ellie Mae's Encompass Investor Connect. With Home Point's new partnership, Ellie Mae has 13 of the top 20 largest cor- respondent investors as Inves- tor Connect partners, making available more than 70% of the aggregator market in the United States to Ellie Mae's Encompass customers via Investor Connect. During this time of limited liquidity and high volume, inves- tors are encouraging lenders to deliver their closed loan packages directly from Encompass using Investor Connect. For the lender, this means faster delivery to in- vestors like Home Point Financial, improved efficiency, minimal clicks, and fewer conditions. And for the investor, this capability means increased velocity and cleaner loan packages for faster review and purchase times. "Home Point is committed to partnering with strong and stable technology providers to deliver a streamlined experience for our lender partners, both during these trying times and when it is business as usual," said Steve Landes, Senior Managing Director, Correspondent Lending at Home Point Financial. "We are thrilled to extend our partnership with Ellie Mae by adding Investor Connect to the suite of products we already use from them. Investor Connect helps us gain operational efficien- cies while providing a more seam- less digital mortgage experience for our sellers." Investor Connect is the secure system-to-system workflow be- tween lenders and correspondent investors that ensures delivery of accurate and compliant loan packages as part of the Ellie Mae Digital Lending Platform. It sup- ports the needs of lenders and in- vestors, providing a more efficient loan package delivery process by automating it directly from the Encompass LOS to the investor. With Encompass lenders repre- senting a significant portion of all loans sold to closed loan purchas- ers, secondary market Investor Connect users are tapping into a large part of the industry while improving purchase times and enhancing efficiency, accuracy, and compliance. In addition to using Investor Connect, Home Point Financial leverages Encompass to process post-closed purchase reviews and Ellie Mae AIQ to help automate workflows and underwriting. Home Point has worked closely with Ellie Mae on the design and rollout of new products and has been investing heavily in tech- nology systems to automate the mortgage process. "We are thrilled to welcome Home Point as our newest Investor Connect correspon- dent investor as we further our mission to help originators and purchasers achieve a true digital mortgage," said Parvesh Sahi, SVP of Business Development for Ellie Mae. "Home Point Financial is focused on offering their sellers improved delivery and efficien- cies while improving their own review and purchase times. Our mutual customers will benefit from the partnership as Home Point is a forward-thinking lender that continues to leverage technol- ogy to benefit both their sellers and their internal processes." Ellie Mae has established partnerships with correspondent investors AmeriHome, Chase, Flagstar Bank, Franklin American Mortgage, Mr., NewRez (formerly New Penn Financial), TMS, and Wells Fargo, with more partner- ships to be announced. IDS Expands eClosing Platform NEW OFFERINGS INCLUDE ENOTES, REBRANDS AS SOLITUDE SOLUTION M ortgage document preparation vendor In- ternational Document Services, Inc. (IDS), announced it has expanded the capabilities of its eClose platform to include eNotes. Recently branded as Solitude Solution, the platform's eClosing capabilities allow lend- ers and borrowers to execute loans digitally. "IDS has always taken pride in our ability to anticipate our clients' needs, and our response to their urgent need for eClos- ing and eMortgage technology in the current climate has been no different," IDS VP and General Manager Mark Mackey said. "Our customers are already familiar with our easy-to-use eSign plat- form, and with our eNote capa- bilities, customers have the ability to digitally deliver a mortgage. As the mortgage industry strives to continue offering borrowers the ability to move forward in the loan process throughout these troubled times, IDS is proud to be part of the solution." Solitude Solution offers mid- night automation capabilities, allowing documents to be sent to the borrowers early for review and automatically become active for eSign on the closing date. Additionally, Solitude Solution is built to deliver documents to the appropriate parties, ensuring that borrowers and settlement agents only see the documents they are required to acknowledge, sign, or review. The platform also includes access to IDS' user-friendly eSign Room, where document sign- ers can review their documents, "Today, more than ever, the mortgage industry is embracing automation as a necessity." — Ben Cowen, President, Wyndham Capital Mortgage