TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1367362
M R EP O RT | 5 MTECH program on remote online nota- rization (RON) technology and processes. The program estab- lishes a database of notaries that have been trained and certified on DocMagic's Total eClose platform. "Ultimately, this partnership creates a better RON process for lenders and borrowers alike, benefiting all users involved in the eClosing process," said Dominic Iannitti, President and CEO of DocMagic. "Lenders are operat- ing at maximum capacity right now with an influx of mortgage applications that they must ulti- mately close on as efficiently as possible amid heavy loan volume. Our new certification process will ensure lenders that RON eClos- ings will be handled quickly and efficiently by a ready supply of proficient eNotaries." Secure Insight has an extensive database of notaries that can be accessed to locate notarial agents qualified to complete compliant eClosings using RON technology. By joining forces, DocMagic offers the technology and Secure Insight provides a unique database and individual training for notaries. "One of the primary challenges in facilitating RON transactions is that lenders are hesitant to entrust the closing process with a notary that may be ill-equipped to effec- tively perform an eClose transac- tion," said Andrew Liput, CEO at Secure Insight. "Teaming with DocMagic allows us to identify properly licensed, experienced, and trained professionals whom lenders will feel comfortable leveraging to perform the special- ized functions surrounding these unique transactions." Giving Brokers an Advantage SPROUT UNVEILS 'BROKER ADVANTEDGE' PROGRAM TO HELP MORTGAGE BROKERS. S prout Mortgage, a nation- wide non-QM lender, an- nounced they are launch- ing a new program to help brokers grow their business. Sprout's new "BROKER AdvantEDGE" program is a series of operational improvements that will help brokers enhance the borrower experience and expand their business. The program will continue to evolve over the bal- ance of 2021 and beyond. The first phase of BROKER AdvantEDGE is available as of April 1 and streamlines fee management. Using the new fee manage- ment feature of BROKER AdvantEDGE, brokers can gain increased accuracy by controlling data input, immediately access compliance results prior to loan submission, fill out fewer forms and worksheets, and preview loan estimates before submitting loans for disclosure. "It's time to rethink the loan estimate," said Sprout EVP and COO, Nicholas Imbimbo. "BROKER AdvantEDGE empha- sizes Sprout's commitment to put- ting brokers in the driver's seat to give them more control over their borrowers' experience. The launch of our advanced fee management mechanism eliminates process steps and provides much greater visibility into what borrowers will see related to lender fees." Sprout's loan programs are accessible through many widely used mortgage product and pric- ing engines including Optimal Blue, Loan Sifter, EPPS LoanNEX, and Mortech. Full details are available to mortgage profession- als through the Sprout Client Portal, while Sprout's iQualifi app provides scenario eligibility and pricing. ICE Cold Appraisals APPRAISALWORKS INTEGRATES WITH ICE MORTGAGE. A ppraisalWorks, a property valuation and appraisal management technology provider, announced that its platform is now avail- able through the ICE Mortgage Technology Platform. The integration is built on the latest Partner Connect API Platform, and allows lenders to order, assign, monitor, and review real estate valuations, from a market- place of AMCs and appraisers, directly through the platform. The agreement between AppraisalWorks and the ICE Mortgage Technology Platform will allow lenders to fully leverage the platform and order appraisals and property valuations through both Encompass and Encompass LO Connect. Post-order entry, ser- vice automation within the AppraisalWorks platform drives the event workflow to eliminate need for human intervention on valuation orders. Lenders are able to coordinate approved vendor panels, customize workflows by lending channel, and configure au- tomated assignment logic to route orders based on patented business rule logic, thus eliminating admin- istrative overhead and accelerating turn times. Throughout the order process, stakeholders have permis- sions-based access to messaging, status updates, payment process- ing, and automated alerts–allow- ing for greater transparency and improved collaboration among stakeholders. Once complete, ap- praisal and valuation documents are automatically delivered straight to the eFolder, populating key data elements in the Encompass system, where lenders can review the reports. Southwestern Acquisition STEWART ACQUIRES NEW MEXICO-BASED TITLE FIRM. S tewart Title has acquired Santa Fe, New Mexico- based Prima Title, LLC and the employment of the Prima team. "As we continue to execute on our strategy of building out and prioritizing strengthening our local markets, the addition of the Prima team in Santa Fe makes us the leader in the local market," said Ryan Swed, Group Senior Vice President, Stewart Title. "They have built strong real estate relationships, are known for excellent service, and I couldn't be more excited to add their industry experience and talent to the Stewart family in New Mexico." Stewart continues to grow with this latest addition of the Prima team, after the recent acquisi- tion of A.S.K. Services, Inc., a provider of search and support "It's time to rethink the loan estimate." —Nicholas Imbimbo, EVP and COO, Sprout