- 09.27.18 •
- Topics:
- Technology
Innovation Takes Center Stage at 2018 Digital Mortgage Conference
Innovation and evolution within the mortgage industry continue to reach new heights as consumer demand and reliance on digital technology become commonplace across every industry. As a result, lenders are investing in technology offerings that not only help them remain competitive by improving the experience of their customers, but also simplify and streamline processes and decrease costs.
With a specific focus on showcasing new innovations designed to address the needs of today’s evolving mortgage space, National Mortgage News held its annual Digital Mortgage Conference earlier this month in Las Vegas. Boasting attendees and speakers from some of the mortgage industry’s most recognized and forward-thinking organizations, such as Quicken Loans, SunTrust Bank, Movement Mortgage and Roostify, this year’s conference continued to promote the expansion of digital processes within the mortgage space, touching on new innovations around mobile, artificial intelligence and more.
Harry Gardner, EVP of eStrategies for Docutech, was selected by National Mortgage News to provide attendees a live demo to showcase the company’s Solex eClose solution, which has received Fannie Mae and Freddie Mac approval along with its eNote and eVault offerings. As the conversation around digital mortgage continues to increase, Docutech continues to advocate for lenders becoming as “e” as possible to deliver a more streamlined experience for their borrowers while also providing greater efficiencies and cost savings.
Solex eClosing, integrated with Simplifile, provides lenders with access to a comprehensive eClosing solution, which includes eSigning efficiencies from initial document generation all the way through post-closing. Through Docutech and Simplifile’s combined expertise, the intelligent eEligibility engine reviews each closing package to make it as “e” as possible, taking into consideration regulations by state, county and investor variations. Furthermore, hybrid options provide eSigning of ancillary documents with additional options for SMART Doc eNotes, eNotarization and eRecording.
In addition to highlighting the key functionality of Docutech’s Solex eClosing platform, Gardner also showcased Docutech’s newly developed ROI Calculator, which provides lenders with direct insight into the potential cost savings and ROI they can achieve by advancing from paper to hybrid or full eNote eclosing practices. After entering the lender’s annual loan volume and average loan size, the ROI Calculator then quickly compares paper-related closing costs to provide a detailed comparison of the cost savings and ROI associated with paper versus digital closing. The results can also be broken down further to include cost savings per loan while factoring in multiple variables, such as hybrid vs. full eClose mortgage, home equity, and even the correlation to warehouse financing and cost of capital liquidity.
With the help of well-respected events like the Digital Mortgage Conference and the ability for leading industry innovators to showcase how their solutions can improve the lending process, the mortgage space is well on its way to truly becoming a more digitally-centric industry. Now is the time to become as “e” as you can be.