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Docutech and Simplifile collaborate to provide seamless eClosing solution

Solex eClosing brings title and settlement into the eClosing process

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The collaboration of two leading tech companies in the mortgage space, Docutech and Simplifile, provides lenders with a pathway to delivering a true digital mortgage to their borrowers through a seamless eClosing solution.

Docutech delivers document and compliance technology for mortgage, home equity and consumer lending, while Simplifile is the nation’s largest network for connecting lenders, settlement agents and county recording offices.

The combination of Docutech’s dynamic document generation engine, eSign and eClosing technologies with Simplifile’s eRecording and eNotarization services allows each closing transaction to be as digital as possible, down to a document and jurisdiction level, while maintaining a standardized process on every loan.

Docutech’s ConformX dynamic document generation engine is tightly integrated with the company’s Solex platform delivering eSign, eDelivery, eClose and eVault capabilities. With the integration of Simplifile, Solex eClosing now brings the industry one step closer to a mainstream paperless mortgage process while providing an even better experience for borrowers.

“To date, electronic closing platforms have focused primarily on the lender and borrower experience and have left the settlement agent out.  By leveraging the Simplifile network of over 17,000 title and settlement agents, and integrations with 29 different Title Production Systems, we can seamlessly transfer data back and forth from lender system to title system,” said Brian Boike, director of product strategy at Simplifile.

Borrowers will be able to preview their closing packages and (optionally) eSign the ancillary documents prior to closing. From there, the closing agent and borrower can complete the closing electronically, with full eNotarization capabilities.

Once the closing is complete, closing agents can electronically submit documents to counties for recording. The recorded documents and data along with other trailing documents will then be electronically returned to the lender.

“With Solex eClosing, lenders can streamline eMortgage processes with an integrated and scalable solution, automate their entire mortgage manufacturing lifecycle from initial disclosures to post-closing trailing documents, and optimize the experience for the borrower, settlement provider and closing staff,” said Harry Gardner, executive vice president of eStrategies at Docutech. “Furthermore, lenders can gain a competitive edge with insight into local jurisdiction and investor acceptance,” said Gardner.

This automation accelerates closing, ensures data accuracy and reduces costs. It also provides an audit trail for proof of compliance and continuous compliance tracking and alerts. Solex eClosing enables every loan to be as digital as possible while ensuring that the documents, signatures and notary seals are accepted at a local level as well as by investors.



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