One of the primary reasons mortgage lenders have been working to take their operations fully electronic is that paper is expensive. Storing it and then finding it later is extremely costly. And borrowers, for the most part, are tired of dealing with printed paper. For many lenders, the digital mortgage promises an end to paper and its expense.
Virtually every lender is trying to remove physical paper from their loan origination process and get to a true end-to-end digital mortgage. Unfortunately, the Consumer Financial Protection Bureau’s TRID rule made it harder for many lenders to do so.
We recently hosted an eClosing for Investors webinar to help bring clarity to the subject of mortgage eClosings. Docutech EVP of eStrategies Harry Gardner was joined by experts from Fannie Mae, MERS and Simplifile to discuss the foundations of eClosing, the state of the industry today, investor eClose requirements and how investors can get started. If you missed the live webinar, we encourage you to watch it at your convenience.
Remote Online Notarization, or RON, is one of the most exciting developments in the eClosing world in recent years. There are a few common misconceptions surrounding RON, and depending on who you talk to, it might be the greatest thing since sliced bread, or a flash in the pan that will never really catch on. Here we will explain the latest developments, the pros and cons, and the current reality of RON eClosings.
We sat down with Tom Gallucci, the Vice President of Business Development for The Mortgage Collaborative, to spotlight their mission and the services they offer in this collaborative group. Docutech is the collaborative’s exclusive doc services provider offering members preferred pricing to the ConformX dynamic doc gen engine as well as the Solex eSignature and eClosing platform.
In today’s lending market, eClosing is the fundamental component to providing a true digital mortgage. Now, with the availability of integrated eClosing solutions, combined with the growing investor acceptance of eNotes, Lenders are making the investment in eClosing platforms to deliver a truly optimized and convenient mortgage experience.
In this three-part blog series, we’ve spotlighted key indicators that the mortgage lending industry is adopting digital mortgage processes at an accelerating pace. The first blog focused on the increasing usage of digital mortgage application platforms. The second post took a closer look at the rapid eNote adoption we’re seeing in the market today.
In a previous post, we discussed increasing use of digital mortgage application platforms as the first of three indicators that digital mortgage adoption is accelerating. In this post, we will look at the second key indicator: the rapid adoption of eNotes.
While mortgage purchase origination dollar volume is down, application volume hit its highest level in 9 years last month due to dips in interest rates combined with wage gains and home price deceleration.
