MReport November 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 9 of 67

8 | M R EP O RT MTECH QA. The technology and automa- tion features used in the next generation of AuditGenius derive from Indecomm's DecisionGenius automated underwriting solution and include Intelligent Document and Data; Genius Business Rules Engine; Machine Learning and Automated Checklists; Tech Interconnectivity; and Reporting and Rebuttals. "The technology driving Indecomm's latest AuditGenius has the potential to usher in a new generation of automation- enabled quality control and other touch-heavy mortgage processes," Indecomm CEO Rajan Nair said. "The typical QC process is still highly manual and extremely re- dundant, with extensive checklists of 200+ questions. By applying our Indecomm's underlying tech engine to AuditGenius, and automating those hand-heavy processes, we may finally snuff out the culture of quality control review overkill." On-the-Go Closings NEW AMROCK OFFERING ALLOWS FOR MOBILE CLOSINGS A mrock, a provider of title insurance, property valuations, and settle- ment services, and a part of Rocket Companies—has intro- duced proprietary technology to electronically close (eClose) mortgage transactions entirely from a mobile device. This new product represents the final step in Rocket Companies' creation of a seamless, end-to-end real estate experience clients can use to go from application to clos- ing on the iPhone or Android phone. Through Amrock's technology, clients can close on a mortgage by connecting with the closing agent or notary from a mobile device no matter where they may be in the world. "Our company has always been focused on meeting our clients wherever they may be, but we were limited by the industry's standards for closing mortgages. That was the driving force behind Amrock creating this technol- ogy, providing the ability to close mortgages for a spouse traveling for work, a military member serv- ing away from home or countless other real-world scenarios," said Nicole Beattie, CEO of Amrock. "Rocket Mortgage pioneered getting a mortgage online from a smart phone—now, Amrock is providing the final piece of the puzzle for a complete mobile mortgage experience." Amrock's mobile closing capability is part of the Rocket Platform through which clients can search for a home with Rocket Homes, get a home loan from Rocket Mortgage, eClose on their mortgage through Amrock via Remote Online Notarization (RON), In-Person Electronic Notarization (IPEN), or a Hybrid eClosing, and now, can close on their mortgage completely from a smart phone. Clients that prefer to keep some elements of their home loan journey nonelectronic can still choose to do so. "Our mission at Rocket Companies is to simplify life's most complex moments so our clients can live their dream, and we've delivered yet again on our vision to create a seamless real es- tate experience by being the first- ever to revolutionize the closing process," said Jay Farner, CEO of Rocket Companies. "In addition to new mobile capabilities, clients can now move from mortgage processing with Rocket Mortgage to closing with Amrock through a single sign-on feature—a seemingly small, yet significant example of how the Rocket Platform removes friction every step of the way for consumers." Based on the volume of reg- istered notes on the Mortgage Electronic Registration System (MERS), Amrock is currently responsible for the majority of eClosings throughout the country. Its clients can complete a mobile RON when refinancing a mort- gage in nearly 60% of the U.S.— each state where RON eClosings are allowed by law. Amrock plans to roll out mobile RON capabili- ties for all mortgage transactions, including home purchases, by the end of 2022. Digital Advances in the Credit Space TAVANT ADDS TO ITS AI PLATFORM T avant has launched two highly anticipated new products to Touchless Lending digital lending platform and signature Fintech product brand—Credit Analysis and Col- lateral Analysis. This expansion marks a significant milestone for Tavant, as the organization makes steps towards unifying all of its fintech products under one overarching product brand, Touchless Lending. Touchless Lending provides straight-through mortgage process- ing and automated underwriting as part of the end-to-end mortgage

Articles in this issue

Archives of this issue

view archives of TheMReport - MReport November 2022