TheMReport — News and strategies for the evolving mortgage marketplace.
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Th e M Rep o RT | 9 on the web have already begun introducing the service to clients. Accurate Group Launches EquityClear Solution EquityClEar offErs lEndErs a strEamlinEd, standardizEd solution to titlE and liEn ClEaranCE for homE Equity loans. A ccurate Group recently launched EquityClear so- lution, designed to help lenders streamline and accelerate title and lien clearance to pro- duce more accurate, actionable title data for home equity loans. With EquityClear, Accurate Group facilitates the title search, automates the review of lien and vesting history using both public and non-public data sources, and provides a more accurate and useful title report to the lender. Benefits to lenders include greater efficiency, reduced expense and burden on loan officers and underwriting teams, and better decisions on borrower qualification. EquityClear also enables lenders to reduce overall risk by ensuring a standard- ized process is applied to every loan and that liens are reviewed and cleared by a fully qualified, neutral third party. Borrowers benefit from less documentation and faster loan closings. "As the economy strengthens and home values continue to increase, lenders have the opportu- nity to significantly increase rev- enues from home equity loans and home equity lines of credit," said Paul Doman, president and CEO of Accurate Group. "EquityClear transitions the burden of title and lien clearance from the lender to Accurate, freeing lenders up to spend more time on new business development and client service, while also accelerating the loan closing process." As a complement to its tradi- tional appraisal and title solutions, Accurate Group offers a specialty suite of products that enables lend- ers to close home equity loans faster and with less overhead, while remaining compliant with industry regulations. EquityClear is the latest addition to this unique product suite. EquityClear lever- ages Accurate Group's proprietary process automation technology to streamline the title and lien review process, accessing information from multiple data sources. The technology is comple- mented by an in-house team of certified, U.S.-based title experts who evaluate each report before delivery to the lender without impacting total turnaround time. "As the leading home equity appraisal, title, and compliance company nationwide, lenders can be confident in the thor- oughness and accuracy of the title information we provide," Doman said. "We are offering them a way to benefit from the latest technology and repeatable consistent review processes with- out taking on additional internal infrastructure." Accenture Enhances Its Mortgage Cadence Loan Fulfillment Center Bringing thE loan origination proCEss onE stEp ClosEr to BEComing fully digital, aCCEnturE now offErs E-signaturE CapaBilitiEs. A ccenture launched a new release of its Mortgage Cadence Loan Fulfill- ment Center, which allows borrowers to electronically sign disclosures with e-signature functionality. This cloud-based platform will enable borrowers to sign more quickly and while offering improved security. One of two origination systems provided by Accenture, the Loan Fulfillment Center offers credit unions, community banks, and regional banks retail mortgage lending functionality through its Borrower Center, Document Center, and Imaging Center solutions. This is the next step in bringing lenders closer to a completely electronic, wholly Web-based mortgage process. "Enhancing process transpar- ency and improving convenience supports lenders and borrow- ers alike. Offering e-signature functionality brings the Loan Fulfillment Center one step closer to enabling the completely digital mortgage," Senior Product Line Lead of Accenture Mortgage Cadence, Paul Wetzel said. "From application, to process- ing, underwriting, and closing, including a robust document service complete with e-signature and e-delivery provides addition- al convenience and efficiency for lenders and their customers." Delivery between ordering documents and sending them to the borrower takes mere minutes from start to finish with the cen- ter. The simple signing process provided by this latest release walks the borrower through the process, highlighting which doc- uments require a signature and which simply need review, while also tracking which documents have been signed and which are outstanding. Borrowers and lenders using the platform also receive notifications when major milestones are achieved, such as successful signature on all docu- ments. Accenture is a global manage- ment consulting, technology ser- vices, and outsourcing company with more than 319,000 people serving clients in more than 120 countries. The company generated net revenues of $30 billion for the fiscal year ending August 31, 2014. Accenture Software combines deep technology acumen with industry knowledge to develop differentiated software prod- ucts. Accenture Mortgage Cadence serves as the core mortgage loan origination platform for Accenture Credit Services, a business service providing consulting, technology, and outsourcing services to the residential mortgage, commercial lending, leasing, and automotive finance industries. "As the economy strengthens and home values continue to increase, lenders have the opportunity to significantly increase revenues from home equity loans and home equity lines of credit." —Paul Doman, president and CEo of accurate group