How does an intuitive eClosing process and a powerful LOS work together to deliver a true end-to-end digital mortgage experience? We sat down with David Wieczorek – Group Product Manager for LendingQB at MeridianLink, a leading provider of SaaS loan origination technology solutions, to get his perspective on the importance of providing lenders and their customers with a true digital mortgage experience.
How do you hope end-to-end digital mortgage adoption will evolve in 2020?
Lenders have been talking about completely paperless, fully digital mortgages for years. While tremendous strides have been made over the past 3-5 years to deliver a digital mortgage experience at the point of sale, digital mortgages have remained elusive at the point of loan closing and beyond, due to both technology gaps and dated regulatory requirements. We’re optimistic that 2020 will be the year in which an inflection point has been met; eClosing technologies are rapidly coming online, while COVID-19 provides the impetus for expedient regulatory change to green-light adoption. This seems to be the year in which the promise of a fully digital mortgage will finally be a reality for many lenders and borrowers.
How does the ability to customize the loan origination experience benefit lenders and borrowers alike?
Every lender has their brand and customer niche. Every loan is unique, and every lender operates in a slightly different way. Customization of the loan origination experience allows a lender to stay true to and project their brand while best serving the unique needs of their target customers while also assuring consistency in processes.
How does LendingQB support lenders in achieving both increased flexibility and efficiency?
LendingQB takes the best of breed approach with our vendor partners, meaning that we selectively partner with vendors we know will add the most value for our mutual customers. A key aspect of that approach is the flexibility of our Open APIs, which allow for rapid vendor integration. We also have a dedicated support team to ensure our integrations' success over time. This empowers our customers to assemble the best overall solution for their business and to get help when they need it.
By partnering with Docutech, we can provide even more value to lenders by enabling the four essential elements of an end-to-end digital mortgage:
- Mortgage LOS and eClosing system integration. Innovative technology can’t work in silos. The two systems integrate to create efficiencies and great consumer experience.
- Document preview. A document preview feature lets the borrower review all needed items from the comfort and safety of their home.
- eSign and eDelivery. We can deliver contracts and important items and give borrowers the ability to safely and securely sign them.
- Remote online notarization. Notaries can eSign and eNotarize documents remotely - no need to meet in-person - enabling secure and convenient delivery.
How does your partnership with Docutech help deliver an outstanding experience to consumers?
Docutech's Solex™ eClosing platform fills a critical gap in the vision of a fully digital mortgage for lenders and their borrowers when the industry most needs that gap to be filled. A true end-to-end digital mortgage lending experience is incomplete without a secure, compliant, and intuitive eClosing process paired with a powerful mortgage loan origination system. Solex is a complete eClosing solution platform enabling each transaction to be as digital as possible. The integration of LendingQB, Docutech’s ConformX™ doc gen system, and the Solex eClosing platform will allow lenders, borrowers, and settlement agents to streamline the closing process while ensuring safety and security.
“We are excited to partner with Docutech to bring their Solex eClosing platform to our clients,” said Tim Nguyen, co-founder and chief strategy officer of MeridianLink. “With Solex eClosing, lenders, borrowers, and settlement agents can benefit from a complete digital closing solution to streamline the closing process while enhancing safety and security for all parties.”
To learn more about Solex eClosing and our integration with LendingQB, schedule a demo or reach out to us at email@example.com.