MReport August 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

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M R EP O RT | 9 to the Roostify Beyond platform, which is displayed as a part of the interactive Analysis Assistant dashboard. "Improving loan assembly and processing costs and time-frames is an imperative for all lenders in today's environment," Roostify Co-Founder and CEO Rajesh Bhat said. "Roostify Beyond already incorporates income calculation and analysis for the most common employment scenarios. With the integration of IncomeGenius, we can now simplify and automate calculations for self-employed borrowers, an increasingly important use case as the gig economy expands." Using standardized rules and algorithms, IncomeGenius minimizes risk related to manual inputs and calculation errors, doubling productivity at loan set-up and reducing time spent on income calculations by 60%. Additionally, IncomeGenius ensures 100% compliance with audit requirements and provides a complete audit trail, serving as a single source of truth for all documentary evidence. "In middle-office mortgage operations, associates spend a painstaking amount of time veri- fying, validating, and comparing data and docs," Indecomm CEO Rajan Nair said. "When this hap- pens, you know that your associ- ates are moving away from the purpose of serving the borrower. Now, merging the intelligent data offerings of Roostify Beyond with IncomeGenius automation, lenders can accelerate complex analyses and react more quickly and accu- rately, while minimizing risk." Perfecting the Notary Experience NOTARYCAM UPGRADES ECLOSE360 N otaryCam, a Stewart- owned company and provider of online nota- rization and mortgage eClosing solutions, has made updates to its eClose360 platform to expand its capabilities and deliver a better user experience for both notaries and document signers. System updates include integra- tions with top escrow software vendors, allowing managers to view every transaction in their system to allow for increased internal visibility and transpar- ency surrounding the document and transaction. The updates also enable enterprise clients to use the eClose360 platform autono- mously while maintaining access to NotaryCam's customer service team. "In this latest update, we built in some hierarchy control permis- sions and privileges that will ben- efit all our clients but especially for our large enterprise clients that want more internal control over the platform," NotaryCam Division President Rick Triola said. "With that understanding in mind, we set out to build a prod- uct that would meet their needs, and the expanded capabilities and options available in eClose360 will have a significant impact for those larger enterprise clients." NotaryCam's enhanced dash- board allows all parties to view the transaction progress and access the video recording, and its publicly-available application programming interface (API) integration has also simplified the client onboarding process. With expanded browser options, NotaryCam users can now access the platform on the browser of their choice, and the platform is mobile-friendly, allow- ing users to easily participate in a remote online notarization (RON) transaction using a mobile phone or tablet. Additional features include an autosave function and the hassle-free ability to make last-minute document updates, such as fixing a typo or adding a document to the transaction. "With the ability to make changes to documents, notaries can attain the necessary permis- sions and update documents on the fly rather than requiring the signers to reschedule the transac- tion for a later date," Triola said. "Giving notaries the capability to fix a typo or add a last-minute document without bringing the transaction to a halt is just one of the reasons NotaryCam success- fully completes 99.8% of its real estate closings." Managing Fee Cures BLACK KNIGHT LAUNCHES NEW FEE CURES SUITE B lack Knight Inc. has combined the analytics of its Actionable Intelligence Platform (AIP) with Ernst Fee Service data and the Empower LOS loan information to create the industry's first fee cure as- sessment tool integrated directly within the LOS workflow to help minimize mandatory 0% and 10% tolerance fee cures. "As lenders struggle to main- tain profit margins, fee cures are a preventable expense that can be addressed with better, more timely data," said Rich Gagliano, President of Black Knight Origination Technologies. "We have seen fee cures average hundreds of dollars per loan and over time, can add up to millions or even hundreds of millions of dollars at the portfolio level. Our new Fee Cures Suite allows lend- ers to identify trends, as well as drill down to loan-level data to reduce fee cures." The AIP is a unified frame- work for analyzing data from multiple data sets to deliver stra- tegic and actionable intelligence across the loan life cycle. It solves the industry challenge of lever- aging "big data" from multiple, segmented databases to improve performance. Ernst Fee Service is used by lenders to minimize costly fee cures by providing accurate recording fees, transfer taxes, property tax, title, settle- ment, inspection data, and lender and appraisal fees. The new Fee Cures Suite combines these two resources with LOS loan data into a dashboard, allowing lenders to compare loan estimates with closing disclosure fees from closed loans, identify inconsistencies and implement checks and balances to increase efficiency and accuracy MTECH "Improving loan assembly and processing costs and time-frames is an imperative for all lenders in today's environment." —Rajesh Bhat, Co-Founder and CEO, Roostify

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