MReport October 2020

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 5 MTECH country," Niemiec added. Launched in 2010, QLMS has become a force in the broker community, adding new partners at an unprecedented rate with a streamlined on-boarding process that allows loan officers to begin originating mortgages with them in as few as 24 hours after application. Targeted Training for Mortgage Brokers TRAINING SESSIONS FROM CARRINGTON MORTGAGE SERVICES ARE DESIGNED TO POSITION BROKERS FOR GREATER BUSINESS SUCCESS. C arrington Mortgage Services, LLC (CMS), one of the nation's largest privately held nonbank lenders, announced specialized train- ing for brokers. Because today's lending market is changing at such a rapid pace, it is essential for brokers to be intimately familiar with the latest trends and products, so they can pro- vide their clients with the best solutions. To help brokers maintain their competitive edge, CMS is now offering webinars and virtual consultations. Facilitated by Carrington Wholesale and Correspondent business leaders, these sessions can show brokers and sales teams how to: • Identify and reach potential government, conventional and nonagency borrowers • Assist loan officers and processors with nonagency loan guidelines • Qualify more borrowers through manual underwriting • Use Carrington's suite of government and conventional loans to expand their sales pipelines "The primary focus is for us to be a better partner to our brokers," said Kevin DeLory, SVP, Wholesale and Correspondent for CMS. "We want to let them know all about the products we offer and the ways we can partner with them to make their business successful." Although initially introduced to CMS Wholesale brokers and Correspondent sellers who previously had worked with Carrington, the program has quickly expanded to serving all brokers who would potentially be interested in offering Carrington's diverse loan options to their cus- tomers. The sessions are also de- signed to accommodate individual questions and scenarios from brokers. A recent conversation with a broker who is new to the mortgage business involved a dis- cussion of the products offered by Carrington and an examination of what products would work best for borrowers with different home loan needs. So far, more than 100 brokers have signed up for the sessions, as well as a large group train- ing event focused on manual underwriting. The webinars and conversations concentrate on the areas where brokers and sellers have questions, as well as the products and services that make the most sense for their business. "Carrington is committed to its broker and seller partners and helping them any way we can," said Greg Austin, EVP, Mortgage Lending for CMS. "We understand that not every client has a learning and development department, so we want them to have the oppor- tunity to benefit from our expertise and offer a wider range of products to more borrowers." CMS' considerable market advantages include very competi- tive conventional pricing, diverse agency products, FICO scores down to 500 (550 for nonagency products), extensive manual un- derwriting expertise, best-of-breed technology, superior customer service, and a robust nationwide network of mortgage brokers. CMS offers brokers and borrow- ers a diverse range of conventional Fannie Mae, Freddie Mac, FHA, VA, and USDA products, as well as a wide spectrum of nonagency offerings. In addition, Carrington's considerable ongoing investment in technology—including process automation, machine learning, and industry-leading mortgage industry applications—is available to all brokers who work with CMS. Such technology allows brokerages of all sizes to utilize CMS' systems to disclose to borrowers at best-in- class speed—accelerating brokers' ability to process loan scenarios, identify loan products that will work best for their borrowers and provide exceptional personalized service to their customers. "We are the premier under- writer who has it all under one roof, and we offer products and services some brokers may not be used to offering," DeLory said. "That may include $100 down for eligible FHA loans, and refi simple for FHA, which allows brokers and borrowers to take advantage of reduced income and asset re- quirements, a wealth of nonagency offerings and much more. We also know that manual underwriting is an important part of the mortgage business, and at Carrington, we do it really, really well." The Seamless Exchange of Loan Files A NEW INTEGRATION BETWEEN DOCMAGIC AND VIRPACK STREAMLINES ESIGNING OF LOAN DOCUMENTS. D ocMagic, Inc., a provider of fully compliant loan document preparation, regulatory compliance, and com- prehensive eMortgage services, announced that that it has inte- grated its eSign platform with VirPack to facilitate the seamless exchange of loan files and docs for compliant eSigning through DocMagic's eSign platform. Using VirPack's API, elec- tronically signed documents can automatically be accessed and retrieved from DocMagic's eSign platform and delivered to the appropriate party, establishing a secure, seamless exchange of sen- sitive borrower information and documents. A robust set of user notifications alert customers to all DocMagic eSign platform events. The integration centralizes a pa- perless environment to maximize operational efficiency, eliminate errors, and reduce costs. Further, the seamless connectivity speeds up funding and quickly delivers loan files to investors, GSEs, the FHA, servicers, QC firms, MI firms, and other relevant parties. "This integration helps our mu- tual clients to efficiently automate document workflows and consoli- date the retrieval and packaging of documents according to their specific preferences," said Steve Ribultan, Director of Business Development at DocMagic. "Ultimately, we're bringing a greater level of organization and centralization to bundling ex- ecuted documents for borrowers, Because today's lending market is changing at such a rapid pace, it is essential for brokers to be intimately familiar with the latest trends and products, so they can provide their clients with the best solutions.

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