Industry Update: the Future of eClosing and RON

Join industry experts for an in-depth discussion on the future of eClosing and how hybrid and RON closings benefit lenders and borrowers.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

How Biden’s Neighborhood Homes proposal impacts real estate investors

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Mainspring releases SaaS platform for title and escrow

First software-as-a-service platform released by company

Title and escrow software company Mainspring Services announced the release of “titleLOOK,” a software-as-a-service platform that streamlines the title production process. According to Mainspring, the service addresses a major headache for lenders, underwriters and consumers.

It’s the first SaaS platform the company has released.

Mainspring said the SaaS software works with both PDF and DOC file types exported by any production software. It also automatically hyperlinks the report to the relevant search documents, summarizes title exceptions, grades reports and alerts users to curative tasks. The preliminary and commitment reports are then automatically published and instantly shared with customers and stakeholders.

Mainspring officials said it was crucial to address hyperlinking following the 2020 American Land Title Association springboard event, which identified hyperlinking as a time-consuming issue. By automating hyperlinking, Mainspring CEO Bill Boyington said the firm hopes to save companies and individuals hours of time.

The automatic hyperlinking feature “completely solves this pain point,” Boyington said. “Through industry collaboration, we quickly learned that title companies are looking to drive business development and increase brand loyalty through client engagement. This is a big win, not just for those in title and escrow, but for lenders, real estate agents and consumers, especially.”

The digital closings space has become hot over the last year, driven largely by the pandemic and a consumer shift toward automation and digitization. Many companies are creating easier, all-in-one platforms to make document uploading and completion simpler – and able to be done at home.

In fact, digital closing platform Qualia recently announced the release of “Qualia Scale,” a software program that allows proptech companies to attach title and escrow to their core offerings.

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