eClosings Are Picking Up Steam

Talk of the Digital Mortgage is everywhere. This is the big push for lenders looking to increase efficiency and cut cost. And vendors are stepping in to help lenders achieve this goal. For example, Visionet Systems, has released an enhanced web services integration layer for CD2UCD, a solution that converts Closing Disclosure (CD) images to Uniform Closing Dataset XML.  Visionet will be exhibiting its  solutions at the National Technology in Mortgage Banking Conference & Expo 2017, an event held by the Mortgage Bankers Association at the Hyatt Regency, Chicago from March 26 to 29.

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CD2UCD addresses situations where the data required to produce the UCD is not available, such as CDs modified at the closing table and loans acquired through correspondent or bulk channels.  The enhanced interface allows lenders, closing agents, document preparation providers and Loan Origination System (LOS) vendors to easily pass a CD document and the required GSE data fields to the CD2UCD service and receive back a fully GSE-compliant UCD.  CD2UCD also fulfills single and bulk requests via secure web portal and file transfer mechanisms.

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“We’ll be discussing our latest enhancements to the CD2UCD platform at MBA Tech 17, and highlighting the important industry problem it addresses,” said Norman Gottschalk, CTO at Visionet. “CD2UCD is the result of two years of investment, collaboration and learning, and we continue to invest in its development.  We look forward to sharing our expertise and experience with our present and future clients and colleagues, and we encourage partnerships and integrations with all industry participants.”

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Visionet’s solutions help lenders, servicers and investors stay compliant with the ever-changing regulatory environment, while staying as efficient and cost-effective as possible.  CD2UCD represents a prime example of how the application of technology can significantly boost back office productivity. Instead of spending countless hours compiling and entering the information required to produce each UCD, our solution is simple and scalable, and drastically reduces the time and resources mortgage firms spend on investor delivery.  Visionet is proud to be the first to bring such a game-changing product to market.

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