Articles Tagged with ''digital mortgages''

Wells Fargo to begin buying eNotes

Digital mortgage revolution takes big step forward
Wells Fargo, which began accepting digital mortgage applications earlier this year, is about to take an even bigger step into digital mortgages, as the megabank announced Monday morning that it is going to begin buying eNotes (electronic promissory notes). To facilitate this expansion of its mortgage business, Wells Fargo is partnering with eOriginal, a digital solution provider for the mortgage industry and a HousingWire Magazine Tech100 winner in 2018.
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Norcom Mortgage starts eClosing and the digital mortgage marches on

Partnership with Pavaso offers customers eClosings, a common strategy in a tough market
The rush toward the digital mortgage is still in full force. Today, Norcom Mortgage just became the first Connecticut-based lender to offer fully digital closings. Norcom will use Pavaso’s digital closing platform to float its new eClosing process dubbed “Swift Sign.”
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Freddie Mac incorporates new DocMagic tech

The GSE will now use eVault and SmartREGISTRY to cut costs and speed processes
Freddie Mac is integrating DocMagic technology into its software suite to facilitate the storage and control of eNotes. The government sponsored enterprise is incorporating DocMagic’s eVault technology and its SmartREGISTRY platform to store documents, perform automated eNote certification for Freddie Mac eMortgage lenders and enable the electronic transfer of these notes to other eVault systems.
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Want your digital mortgage? Look to state notarization laws

For lenders the path forward is less than clear
[Expert commentary] In 2018 alone, remote notarization bills have cropped up in the legislative sessions of 14 additional states and the District of Columbia. That said, there are many states that have yet to address remote notarization, and for lenders operating in these states, the path forward is less than clear.
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More Boomers are mortgage shopping online

Reverse mortgage lenders see opportunity to invest in digital resources
Like most consumers, Baby Boomers are increasingly turning to the web to do their shopping, and apparently, shopping for a mortgage – or reverse mortgage – is no different. A recent survey by Ellie Mae revealed that nearly a quarter of Boomers reached out to a lender online, signaling to lenders like Finance of America Reverse that online resources are a smart investment.
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Mortgage lender closes doors after failing to invest in tech

Sells assets to Finance of America Mortgage
American Equity Mortgage closed its doors for good after its failure to invest in technology made it unable to compete with other mortgage lenders. Many lenders hope that investing in digital mortgages will help cut back on costs as competition rises, but for American Equity Mortgage, that investment was simply too little, too late.
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Are seniors ready for the digital reverse mortgage?

New startup MortgageRewind says yes
Historically, reverse mortgages require a long, consultative sale that often calls for numerous meetings, lots of paperwork and a good bit of hand-holding. One Colorado-based startup is aiming to change this with the launch of its 100% digital HECM application, offering seniors the ability to obtain a reverse mortgage from start to finish online.
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Credit Karma enters the mortgage business by buying Approved

Personal finance company has more than 80 million members
Credit Karma, the personal finance company that provides its 80 million members with products and services to manage their finances and connects those members to financial services providers, is officially getting into the mortgage business by acquiring Approved, a digital mortgage platform.
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Building a MarTech stack for the digital transformation era

What lenders really want
The mortgage industry is racing to catch up to consumer expectations around online commerce – and marketing technology is taking center stage. But at the core, loan officers don't actually want technology; they want what technology – your marketing tech stack – can do for them.
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