MReport June 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

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M R EP O RT | 5 MTECH Empowering Today's Lenders DOCMAGIC AND BLACK KNIGHT PARTNER ON DOCUMENT GENERATION SOLUTION D ocMagic Inc. has an- nounced an integration with Empower, Black Knight's loan origination system (LOS), to help automate the DocMagic document generation process for lenders and provide access to additional services. Through the agreement, lend- ers have access, directly from Empower, to DocMagic's docu- ment generation solution, support- ing compliance, data integrity, and trackability. "We are pleased to integrate with Black Knight to facilitate digital document generation and compliance support for the mort- gage industry's leading lenders," said Dominic Iannitti, President and CEO of DocMagic. "Black Knight has done an outstanding job aligning with key market pro- viders to support their customer base, significantly growing its LOS business. We're excited that this integration for document gen- eration will also pave the way to provide lenders with the benefits of additional DocMagic solutions." Black Knight's Empower sup- ports a growing digital lending ecosystem designed to support business expansion, offering advanced capabilities that auto- mate the lending process from start to finish. It is configured to support a lender-specific work- flow, and operates in tandem with DocMagic's automated and continuous compliance checks on relevant documents at key points throughout the process. "Empower's strategic integration with DocMagic offers tremendous benefits to Empower users by providing innovative, lights-out integration to support best-in- class document generation, while preserving the integrity of the data and tracking it through- out the loan process," said Rich Gagliano, President of Black Knight Origination Technologies. "Together, Black Knight and DocMagic can help lenders sup- port their compliance efforts and provide borrowers with a more satisfying loan experience." Uniting AI and the Human Touch NEW INDECOMM OFFERING ENHANCES EFFICIENCY IN THE MORTGAGE PROCESS I ndecomm Global Services has released GeniusWorks, an automation-driven intel- ligent workflow solution that combines Indecomm's pro- prietary automation solutions with expert mortgage talent to streamline middle-office origina- tion functions, including set-up, processing, and underwriting. Designed for lenders looking to maximize productivity, while minimizing costs, GeniusWorks leverages Indecomm's Genius suite of automation and expert talent to take loan files at set-up and return them to the lender clear-to- close. GeniusWorks streamlines all workflow, processes, decisions, and tasks at middle-office origination so the lender's associates can focus on high-value efforts such as bor- rower engagement. "We created GeniusWorks to solve fragmented and inefficient origination outsourcing models," Indecomm CEO Rajan Nair said. "Blending automation with mortgage talent, we've created a connected, cohesive engagement model that simplifies lender over- sight, speeds processing, and im- proves loan decisions, translating to cost-savings, fast turnaround times, and a better borrower experience." GeniusWorks switches between automation and expert talent based on the context of the task being executed, while processing both conventional loans and com- plex offerings such as non-QM loans. "Our models predict that lend- ers will achieve a meaningful 30% reduction in cost-per-loan at the middle office and a 50% reduction in the number of lender touches per loan," Indecomm's SVP of Automation Narayan Bharadwaj said. "This efficiency allows lenders to operate profitably even during periods of economic uncertainties and without the constant yo-yo of having to man- age their capacity up or down." While GeniusWorks leverages machine learning and robotics process automation to expedite high-quality loan processing and decisioning, Indecomm's mortgage talent addresses corrective action and human analyses not covered by automation, reducing bottle- necks, and keeping loans moving through the process. Managed by a GeniusWorks client liaison, the GeniusWorks team includes experienced loan admins, proces- sors, and underwriters. New Relocation Team Eases Customer Concerns SPRUCE BRINGS MOBILITY TO TITLE AND CLOSING P roptech provider Spruce has announced its title and closing solution for relocation transactions, Spruce Mobility. The Spruce Mobility channel joins the company's existing client sectors, including tech-focused investors, proptech companies, and lenders. Bringing the best of industry experts and modern solutions, Spruce's relocation services team acts as a natural extension of its clients, while implementing technology solutions for a more seamless and centralized process. Spruce Mobility will offer the benefits of a national presence, without sacrificing the benefits of local knowledge, while reduc- ing the time it takes in equity acquisition, and the elimination of coordinating with a distributed title network, while getting a single point of contact with real- time transaction updates. "As we continue to expand our national offering across client sectors, I'm incredibly motivated by the opportunity within the relocation industry," said Lisa Robertson, EVP, Real Estate Operations at Spruce. "Our team is passionate about customer service and deeply understands the needs of the relocation eco- system." Advancement Through Innovation By constantly pushing the digital envelope, these pioneers in the mortgage space are paving the way for a smooth transition to a fully paperless process.

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