By Tony Garritano
What’s going on in the mortgage market? What trends should you be aware of? Tony tells you in this daily column.

Perfecting The Borrower Experience Is All The Rage

As the industry is securely in a purchase market, improving the borrower experience is a key differentiator for lenders looking to close more loans. Prominent mortgage industry executives gathered in Washington, DC at the 8th Annual PROGRESS in Lending ENGAGE Event sponsored by Get Credit Healthy, QuestSoft and Optimal Blue, to really drill down on this industry trend. How can lenders offer a better borrower experience? Here’s what was said:

In talking about other companies outside of mortgage that do it right, Denis Brosnan, CEO at DIMONT, said, “My Dad is Amazon’s best friend. So, when people in this industry say that older folks won’t do things online, they’re wrong. What people don’t want is to call a call center. The biggest thing is to reach out to people. You need to be a professional advisor.”

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“When you think about the customer experience, you really need to white board and draft out the entire process first,” noted Elizabeth Karwowski, CEO at Get Credit Healthy. “From there you need to ask what else can you be doing to get the borrower more engaged. Bring in other folks from outside the industry to give their perspective. We have to create a better journey for the borrower.”

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“Borrowers are with you for 30 days, but LOs are with you for life,” added Joe Wilson, Chief Sales and Marketing Officer at SimpleNexus. “We need to ask: How can LOs create a better experience for borrowers? You have to enable LOs and others within your organization to think more about the borrower if the process is ever going to improve.”

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“We can start by doing a better job with the upfront validation piece,” concluded Eric Christensen, Chief Strategy Officer at LERETA. “The industry has done a great job at the point-of-sale, but that’s where it stops. You can’t just offer the borrower a good experience there and stop. We need to perfect the whole process, including the backend, as well.”

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

MAXEX Launches Private Market Exchange For Trading Mortgage Loans

MAXEX, LLC, a residential mortgage loan exchange provider, announced the public launch of its digital platform and market exchange for buying, selling and settling mortgage loans through a single counterparty. MAXEX is the only platform in the mortgage industry to offer a centralized clearinghouse that enables buyers and sellers to trade anonymously with multiple counterparties using a single standardized contract while simultaneously reducing costs and increasing the efficiency of secondary mortgage market transactions.

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The MAXEX platform features best-execution pricing and access to a wide range of qualified buyers and sellers. To date, MAXEX has facilitated more than $2.3 billion in initial trading activity and participated in 16 securitizations of more than $500 million in residential mortgages. MAXEX has been approved for trading by many of the most active secondary mortgage market buyers including major Wall Street dealers, money center banks, insurance companies and a growing pipeline of other premiere buyers. J.P. Morgan has been a strategic commercial partner in MAXEX since late 2017 and MAXEX’s recent funding round was led by Moore Asset Backed Fund, LP, an investment fund managed by Erik Siegel of Moore Capital Management, LP.

“As we’ve examined the US mortgage market, we see an opportunity for MAXEX’s exchange and infrastructure to benefit both buyers and sellers of all types and sizes,” said Siegel. “The launch of MAXEX’s digital platform and exchange will help improve the transparency, execution, efficiency, functionality and growth of the secondary mortgage and origination markets. We are excited to partner with MAXEX and look forward to being a part of their future success.”

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Not only does the MAXEX platform simplify the loan trading and settlement process, it also automates the entire workflow through its standardization of the legal contract, underwriting guidelines, seller guide, pricing, loan delivery, loan review, condition clearing, purchase advice, funding and settlement and servicing transfer.

“The aggressive move of big league investors onto the MAXEX trading platform suggests a long-awaited secondary market opening outside the government footprint,” said Jim Parrott, former senior housing policy advisor to the White House. “What makes this particularly interesting is that MAXEX is not simply opening the non-agency market up to investors, as you’d see with the revival of the private label securitization market, but also to small, community lenders that have been long dependent on the market giants Fannie and Freddie.”

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“With over $15 trillion loans outstanding and $1.7 trillion per year in new originations, the U.S. mortgage market is the second largest debt market in the world, behind only the U.S. Treasury market, and yet mortgage loans have never been successfully put on a centralized exchange,” said Tom Pearce, CEO and Chairman of MAXEX. “For decades, the secondary mortgage market has struggled under the weight of old, inefficient business practices that make trading loans complex and expensive, disadvantaging small to mid-sized lenders. MAXEX levels the playing field for all participants while reducing costs and providing broader market access.”

The MAXEX platform offers a dramatic leap forward for mortgage trading. Traditionally, buyers have dictated how every secondary market loan transaction is completed. On average, each seller is set up to transact with 11 buyers and each buyer has over 10 unique activities the seller must navigate to correctly underwrite and sell a single loan. By forcing all parties to comply with each buyer’s unique processes and operational constraints, loan trading becomes more costly and risky. It also limits the number of relationships between buyers and sellers, thereby reducing market access and opportunities for growth. The MAXEX platform simplifies all transactional complexities for both buyers and sellers and standardizes the trading and settlement by utilizing one centralized counterparty, MAXEX Clearing.

“The secondary mortgage market has been in dire need of innovation and modernization,” said Steve Abreu, founder and CEO of Newfi Lending, an active seller on the platform. “MAXEX has brought revolutionary change to the process of trading mortgages by creating a linear, systematic platform and exchange that brings transparency and efficiency and opens the market to an innovative way to buy and sell loans.”

With seller adoption accelerating (more than 80 sellers are currently approved to trade on the exchange and growing), MAXEX aims to become a market utility that offers private market solutions designed to support the non-conforming market while continuing to embrace the standards set by Fannie Mae and Freddie Mac.

MAXEX supports powerful execution strategies, so buyers can upload rate sheets and identify specific types of loans and loan pools to purchase. Sellers can quickly import loan attributes, view pricing and lock and register loans for sale all in real time. MAXEX’s proprietary rules-based audit and review engine performs granular image classification, document inclusion checks, data extraction and validation, cross-document data verification and program product eligibility tests on each loan file to facilitate cost effective and efficient loan trading and settlement.

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Who Cares About The Digital Mortgage Anyway?

As the focus turns to increasing efficiency, reducing cost and maintaining compliance, the mortgage industry has become keenly focused on going digital. Prominent mortgage industry executives gathered in Washington, DC at the 8th Annual PROGRESS in Lending ENGAGE Event sponsored by Get Credit Healthy, QuestSoft and Optimal Blue, to really drill down on this industry trend. Why is the digital mortgage such a big deal? Here’s what was said:

Doing a digital mortgage means that you are originating a more compliant loan. “We have 10% post closing QC now, but that’s archaic,” says Leonard Ryan, President at QuestSoft. “We have pushed all that compliance to the frontend. We are not doing that to stop the loan, we’re doing it to get things done right as early in the process as possible. That’s what a digital mortgage does for you.”

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“If you think about it, there are a lot of disparate systems in the mortgage space that all have different functions and purposes,” added Michael Kolbrener, Chief Technology Officer at PromonTech. “A mortgage is the biggest financial transaction that people will do in their lifetime. So, you have to approach it from the standpoint of creating the most efficiency. All of the systems should work together to get and validate the data needed to do that loan. We are in a data business, so we need to use technology that is truly data driven.”

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“Also, we’re dealing with people. A mortgage is very personal and a digital mortgage does not negate that,” continued Jim Obsitnik, COO at Capsilon. “Here at Capsilon we look at the process end-to-end and the common thread is the data. There are a lot of native data sources that we can access. Data is key. You need to drive ROI for the borrower, for the lender, for the LO, for the investor, for everyone. The digital mortgage allows you to achieve that goal.”

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So, how do you do that? “Artificial Intelligence or AI is very new to the mortgage industry, but it’s going to play a critical role,” pointed out Alok Bansal, Vice President and Business Head at Wipro Gallagher Solutions. “We talk a lot about the borrower experience in mortgage today, but this industry is really playing catch up. Take Uber for example, they have automated the entire taxi/transportation process and it’s all transparent to the end user. AI is going to help that happen for mortgage lending.”

The last part of the puzzle is eClosing ad eNotarizing. When will that get broad industry adoption? It’s happening today according to Kelly Purcell, EVP. Marketing and Business Development at NotaryCam. “I’ve been on the eSigning bandwagon since the beginning. D-Day for eSigning really happened back in 2000, but eSigning still didn’t go mainstream right away. We had to educate the industry and move adoption one lender at a time and it was painful at times. Sometimes I felt like I was working at a not-for-profit. I see eNotarization and eClosing the same way. We have reached D-Day and now we’re educating the industry. The difference is that lenders really want to listen and move on this. Full digital mortgages are happening and it is for the betterment of everyone.”

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

INTEGRA, New Penn And Freddie Mac Set Out To Improve The Borrower Experience

INTEGRA Software Systems is collaborating with New Penn Financial and government sponsored enterprise (GSE) Freddie Mac to launch a one-click submission of loan data to Loan Product Advisor, the GSE’s automated underwriting system (AUS). The solution will provide seamless integration that will help New Penn increase efficiency and maximize secondary market execution by allowing data to be simultaneously submitted to both GSE AUSs at point of sale.

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“Our collaboration with New Penn and Freddie Mac will increase productivity, improve accuracy in the loan decisioning and underwriting process and reduce the overall origination cycle time,” said Rick Allen, Senior Vice President of Operations, INTEGRA Software. “The seamless integration between our systems will allow for more efficiency, including configuration to identify loans eligible for data validation for income, assets and collateral so New Penn can identify the loan that is most favorable to the borrower.”

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INTEGRA’s web-based Epic solution allows lenders to submit loan-data via a single click to both Freddie Mac and Fannie Mae’s AUSs, enabling lenders to see the full view of options available to their borrowers and ultimately leading to an improved borrower experience. The Epic solution provides real-time data information which improves lender efficiency while streamlining the residential real estate transaction.

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“We are always looking for technology that provides our team with tools to better serve our customers,” said Dena Kwaschyn, Chief Fulfillment Officer at New Penn Financial. “With results from both GSE AUSs, we can give borrowers access to more options, like appraisal waivers, so they can save money and shorten the time it takes to close a loan.”

“AUS-Neutral Design (#AND) is an innovative movement supporting the idea that lenders should run both underwriting systems to identify the best path for their borrowers and, in many instances, the optimal processing path for themselves. It is a win for everyone and we’re happy to support this positive change in the industry,” said David Fulford, Vice President of Strategic Technology Integration at Freddie Mac for the Single-Family Business.

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Automating Loan Acquisition For Correspondent Lenders

LoanLogics and Optimal Blue have formed a strategic partnership aimed at changing the digital correspondent experience. By delivering a real-time integration between LoanLogics’ LoanHD Correspondent Lending platform and Optimal Blue’s product eligibility and pricing platform, the companies significantly advance the automation of correspondent loan transactions and create a compelling competitive advantage for clients of both firms. In conjunction with this partnership, Optimal Blue has acquired LoanLogics’ product, pricing, and eligibility (PPE) technology business, LoanDecisions.

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LoanLogics’ LoanHD platform provides automation for every step in the loan acquisition process – from initial seller application review to loan funding and servicing onboarding – and overcomes the challenges that stem from a traditionally manual and fragmented correspondent loan purchase workflow. With the capabilities of LoanHD, investors ensure the loans they are buying are high quality, compliant, and accurately priced, while sellers experience rapid turnaround for funding and enhanced availability of warehouse lines. Additionally, both parties gain value by finding and curing defects before loans are purchased.

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Through real-time integration with Optimal Blue’s product eligibility and pricing platform, LoanLogics fully automates loan-level pricing and eligibility controls that are pervasive throughout loan file review and enhances a critical aspect of the correspondent workflow inside the LoanHD Correspondent Investor Module. The granular feature set of the Optimal Blue solution will drive greater configurability of the LoanHD platform, bringing new and unique capabilities to clients. Additionally, Optimal Blue will provide support for automated adjustments to loan- and bulk-level pricing based on automated due diligence results, while simultaneously delivering maximum flexibility in support of an investor’s secondary guidelines and pricing requirements.

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“Working closely with the Optimal Blue team, we will expand the value each company can offer our respective clients through an integrated solution,” explained Brian Fitzpatrick, LoanLogics CEO. “Individually, we are leaders in our respective disciplines. Together, we offer powerful technology to help investors ‘automate first’ across their loan purchase, pricing, hedging, trading, and counterparty risk oversight practices.”

“We are delighted with this transaction and extend a warm welcome to LoanDecisions’ customers and staff,” said Scott Happ, Optimal Blue CEO. “We are investing deeply in our PPE technology and are committed to delivering the best-in-class solutions and innovative partner connections across our marketplace.”

LoanLogics and Optimal Blue share a long-term vision for the relationship and consider this the first step of many together. With a collective focus on providing innovative automation for the mortgage industry and compelling value for joint customers, additional strategic initiatives and collaborative integrations across the companies’ respective technology platforms are already being considered.

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

A One-Of-A-Kind Event

If you sell products or services to the lending community this is one event you cannot afford to miss.  Our Expert Roundtable to be hosted at our Eighth Annual ENGAGE Event will deliver key insights into:

>> The Future of the Borrower Experience

>> The Future of Digital Lending

>> The Future of Fintech and Its Impact on our Industry

>> And So Much More …

SIMPLY PUT: Gain strategic insights that quite frankly you can’t get anywhere else. If you are serious about improving your sales results, networking with industry leaders and truly understanding the state of the mortgage industry then this one-of-a-kind event is one you can’t afford to miss.

Don’t miss out. This event will take place from 2:30 p.m. to 4:30 p.m. at the Hilton Garden Inn Washington DC Downtown, located at 815 14th Street N.W., Washington, DC 20005 on Sunday, October 14, 2018. So, while you are attending the MBA Annual Conference, this is the time to engage, be enlightened and excel with PROGRESS in Lending Association as we look to the future of mortgage lending. Admission to the event is free.

RSVP NOW!

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MAXEX Raises $38 Million In New Funding

MAXEX, LLC, a residential mortgage loan exchange provider, announced today that it has successfully closed a $38 million new funding round led by Moore Asset Backed Fund, LP, an investment fund managed by Erik Siegel of Moore Capital Management, LP.  GreensLedge Capital Markets LLC was the sole placement agent.

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MAXEX’s prior Series A rounds brought in over $35 million from private equity and venture investors, including Ellis Capital, Fenway Summer Ventures and Bienville Ventures, bringing aggregate capital raised to date to more than $73 million. Additionally, J.P. Morgan has been a strategic commercial partner in MAXEX since late 2017.

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MAXEX will utilize the additional funding to enhance its exchange operations and counterparty structure as well as continue to build out its innovative end-to-end cloud-based platform, which is transforming the trading of residential mortgages between participants in the secondary mortgage market. MAXEX’s exchange brings centralization, standardization, transparency, automation and a streamlined settlement process that translates into a more open, efficient and less risky secondary market.

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MAXEX is now operational and has traded more than $2.3 billion of mortgage loans between select participants, including more than 80 approved sellers and buyers that range from bank and nonbank originators to a number of the most active Wall Street dealers. MAXEX has contributed loans into 16 separate private MBS securitizations and plans for a broader public launch later in the year. The company currently has over 50 employees and is seeking to add additional senior level positions to its team in technology, operations as well as sales and marketing.

“MAXEX has been quietly building technologies that will revolutionize the $2 trillion per annum secondary mortgage trading market and level the playing field for all participants,” said Tom Pearce, CEO and Chairman of MAXEX. “This next level of funding will enable us to further enhance our technology platform as the backbone for trading and settlement in the secondary mortgage market. We are pleased to have our new investors join our existing investor group as we prepare for a broader public launch.”

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

New eBook Outlines Ways For LOs To Cut Production Costs

Loan originators have been finding it increasingly difficult to remain profitable in the face of increasing loan origination costs. Between declining loan applications, higher interest rates, and the increasing cost of compliance, an increasing number of originators are seeing a net loss on each new loan they originate. Now, Visionet Systems Inc., a global services provider to a number of industries including the US home finance business, has released a new eBook that could help. In the new eBook, the company outlines 6 ways to reduce loan production cost by 50%.

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More than ever before, loan originators need access to right technology and variable priced back-office mortgage services to ensure the profitability of their loans,” said Alok Bansal, Managing Director at Visionet Systems. “We are always developing new ways to reduce costs for lenders, to simplify their lending process, and to provide them greater flexibility for meeting their varying production needs without incurring additional expenses. This new publication offers information that will help them.”

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The new eBook details several tools and options for decreasing costs across the board, including bulk processing to reduce cycle time, utilizing pay-as-you-go services and variable staffing to meet changing demands, customizable QC applications to reduce errors and weed out bad loans with no upfront cost, and increasing flexibility in infrastructure, technology and people.

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Visionet provides leading technology solutions in mobility, bulk processing, digital QC as well as several back-office mortgage services. All of these can help turn time by 25-30%, while reducing costs by over 50%. All of this while ensuring upwards of 99.5% accuracy. The free publication is available now: Download the eBook.

Visionet executives will be discussing these advancements at the upcoming MBA Annual Conference in Washington DC. Any interested parties can contact Visionet for a meeting time to learn more. For further information about any of these offerings, or for a free web-based demo, visit the company’s website.

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Finicity And Capsilon Partner To Modernize And Digitize Mortgage Origination

Finicity, a provider of real-time financial data aggregation and insights, has an integration agreement with Capsilon, a provider of intelligent process automation software for the mortgage industry. Under the agreement, Finicity’s Verification of Assets (VoA) solution has been integrated into the Capsilon platform to improve the speed, user experience and economics of the mortgage process.

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Finicity’s VoA solution provides bank-validated insights into borrower assets, enabling reports to be generated in only minutes. The solution reduces fraud, frees up resources, shortens time to close and is now integrated with Capsilon borrower and loan officer workspaces to automate asset verification. This further streamlines the loan application process — borrowers no longer need to search for bank statements, and loan officers have more time to focus on higher value activities, such as getting more loans.

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“We’re excited to work alongside Capsilon with the shared goal of transforming the difficult manual mortgage origination processes of today into a modern and digital experience of the future,” said Steve Smith, Finicity CEO. “Finicity’s VoA reports are a key part of the next-generation mortgage process.”

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Capsilon builds intelligent tools that transform the way mortgage companies work. The end-to-end platform uses data and AI to automate manual tasks and enable better, faster decision-making.

“The mortgage industry is undergoing radical transformation driven by technology. Those who invest in the right technology now will gain a competitive advantage to help them minimize risk and accelerate growth as the market changes,” said Jim Obsitnik, Chief Operating Officer of Capsilon. “We’re thrilled to partner with Finicity to help mortgage companies speed up the application process and deliver better borrower and loan officer experiences.”

Both Finicity’s asset and income solutions are delivered under the CRA framework, which allows borrowers to directly obtain information on reports or submit disputes. Finicity’s status as a registered CRA is a symbol of its commitment to safeguarding consumer privacy and dedication to the mortgage lending space.

Finicity is an authorized, integrated provider of asset verification reports within Fannie Mae’s Desktop Underwriter (DU). This gives lenders a validated asset report through Fannie Mae’s Day 1 Certainty initiative. Finicity is also part of the Single Source Validation (SSV) pilot, meaning Fannie Mae will utilize transaction data from Finicity reports to validate assets, income and employment. A broader rollout of SSV is planned later this year and will build on Fannie Mae’s Day 1 Certainty initiative.

Finicity is also an authorized Freddie Mac asset validation report provider, and Freddie Mac and Finicity are working together on new methods to validate income from payroll deposit data from bank statements.

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Freddie Mac Expands eMortgage Solutions With DocMagic’s eVault Technology

Freddie Mac has implemented DocMagic’s  SaaS-based eVault technology and SmartREGISTRY platform. DocMagic’s eVault provides a secure electronic repository for storing documents and performing automated eNote certification to Freddie Mac eMortgage lenders via Loan Selling Advisor.  By automating the eNote certification process, Freddie Mac will speed the funding process, thereby improving liquidity in the mortgage markets and reducing lender’s warehouse line costs.

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“Freddie Mac is committed to streamlining the mortgage process for lenders and borrowers, and has been a leader in purchasing eMortgages since 2006,” said Andy Higgenbotham, Freddie Mac’s Single Family Chief Operating Office. “We rolled out our automated certification process in 2015 to speed up the funding process, thereby improving liquidity in the mortgage markets and reducing lender’s warehouse line costs. We are now expanding this process to include the DocMagic platform.”

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DocMagic’s eVault provides safe and secure storage for sensitive loan documents. It also automatically parses and validates data in a SmartDoc eNote against data in the user’s core system of record. Additionally, DocMagic’s SmartREGISTRY platform enables holders of eNotes to securely transfer these electronic documents to other eVault systems, such as those used by investors, conduit aggregators and servicers. Ultimately, it facilitates real-time access, delivery, storage and much needed control of electronic loan files.

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“Freddie Mac has been a long-time visionary and champion of eMortgages over the years and has made great strides with their unwavering commitment to automation across the supply chain,” stated Dominic Iannitti, president and CEO at DocMagic. “Now, with the successful rollout of SmartDoc eNote data validation prior to funding, this demonstrates the advantages and a clear-cut ROI of going completely ‘e.’ We look forward to ongoing collaboration with Freddie Mac and to further adoption of the digital mortgage process.”

Notable is that that Freddie Mac encourages the use of ‘SMART’ (securable, manageable, archivable, retrievable, transferable) eNotes because static documents do not contain source data, and thus make it difficult, costly and time consuming to confirm the data on documents match.

DocMagic established a process that guides lenders on how to begin using SmartDoc eNotes. The company’s eVault technology is integrated with its Total eClose platform, which is an eClosing solution that creates a 100 percent paperless digital mortgage process — from origination through eClosing, eWarehouse lending, investor eDelivery and eServicing.

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.