Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements.
LoanScorecard announced a partnership with Sprout Mortgage to power Sprout’s newly launched AUS, the ACORN System.
The integration will enable brokers to run loan scenarios across Sprout’s non-QM loan products, therefore accelerating underwriting decisions and helping brokers originate with greater confidence, according to the company.
“In a flat housing market, forward-thinking lenders, like Sprout Mortgage, are differentiating themselves by using technology to better promote their non-QM products and accelerate the origination process for underserved borrowers,” LoanScorecard Executive Director Ben Wu said. “With our AUS technology, wholesale lenders can not only reach more brokers, but also provide them with the tools they need to ensure happier borrowers and more closed loans.”
Informative Research has announced the launch of a new subsidiary, Informative Research Data Solutions, as well as a partnership with LendingQB to enhance functionality for the SoftQual solution.
“It’s no secret that the market is at a crossroads right now,” Informative Research CEO and President Sean Buckner said. “IR has access to more data than most in our market space – data that lenders can capitalize on to help offset negative market impacts to their bottom line. So, we’re expanding our services with Data Solutions to help our clients work through that data and develop viable and profitable strategies around it.”
The company’s data will now be integrated with LendingQB’s platform, enabling users to order up to seven different credit reports, retrieve supplements, view billing reports, order flood certifications receive pre-close monitoring and more, according to the company.
“It’s important to IR that our clients are never hindered, and their workflow is always seamless and uninterrupted,” Informative Research Chief Operating Officer Scott Horn said. “LendingQB is a specialized platform that’s always been progressive with their integrations, so we wanted to provide an expansion of capabilities to their users. It’s been a wonderful partnership that’s really benefited our clients.”
DocMagic has integrated with LendingPad, offering its customers access to document preparation services located directly within the LendingPad environment.
The integration provides seamless access to DocMagic’s fully TRID-compliant documents, state-specific disclosures and paperless digital mortgage process. Consumers will now be able to order, generate, manage, receive and deliver electronically signed TRID-compliant documents through the solution.
“DocMagic believes in establishing system-to-system connectivity to as many parties as possible in order to efficiently and expeditiously complete transactions and close loans on time,” DocMagic Director of Business Development Steve Ribultan said. “Partnering with LOS providers like LendingPad is key to our goal of eliminating paper, ensuring compliance, and making the end user’s job as easy as possible.”
Also, the Closing Exchange has partnered with DocuSign to deliver managed services to the real estate and mortgage industry.
The company explained in a press release that through an integrated solution, The Closing Exchange will provide seamless e-signature capabilities and hybrid eClosings for DocuSign users within their CXChoice platform.
"Together the Closing Exchange and DocuSign offer a practical managed service to title agents and lenders interested in providing their clients with choice about how they want to close,” the Closing Exchange CEO Alan Frelix said. "Whether you need support for hybrid closings or the support of managing the process of templating or 'flagging and tagging' documents in DocuSign, the Closing Exchange and its e-enabled vendor management platform, CXChoice, provide a seamless and practical solution."
Through a newly announced partnership, Credit union service organization CU Solutions Group has gained exclusive rights in the credit union association space to NestReady solutions.
As part of the agreement, CUSG is also investing in NestReady as the company aims to enhance the delivery of its solutions to credit unions.
"It has long been CUSG’s mission to provide credit unions with solutions that enable them to better serve their members, especially at pivotal life decisions such as purchasing a home,” CU Solutions Group President and CEO Dave Adams said. “In today’s changing market, credit unions are always looking for new and valuable resources to help their members. Our agreement with NestReady will connect credit unions with a partner that not only provides the online home search capability that members have come to expect, but also resources that simplifies the home buying process.”
Finicity announced an integration with LendingQB, permitting LendingQB access to its digital Verification of Assets solution.
According to the company, the partnership will enable lenders to free up resources, increase processing speed and reduce mortgage fraud while providing borrowers with a more efficient experience.
“Digitizing the loan origination process is the key to the future of lending,” Finicity CEO Steve Smith said. “We’re proud to be one of the tech providers behind this movement and are glad to work with leading digital loan originators like LendingQB to help the industry evolve and improve the experiences for lenders and borrowers alike.”
ClosingCorp announced that its SmartFees service is now integrated with Plaza Home Mortgage’s BREEZE loan origination system.
Through the integration, wholesale mortgage brokers will have the option of creating, previewing and delivering loan estimate disclosures at the point of sale. Additionally, the integration permits BREEZE users to choose a closing agent and title company in their specific markets.
“Our integration with ClosingCorp represents our continued commitment to streamlining the LE and disclosure form generation process for our clients,” Plaza Home Mortgage Executive Vice President of National Wholesale Production Jeff Leinan said. “Continuing to collaborate with industry leaders, like ClosingCorp, allows us to provide our clients with access to the most accurate rates and fees enabling them to close fully compliant loans.”
