Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements
Floify, a provider of digital mortgage technology, announced it has released the third iteration of its web-based Form 1003. The product is a digital mortgage application that enables borrowers to complete the lending process remotely while providing mortgage originators the ability to automate front-end tasks.
In a press release, Floify said the new iteration aims to provide lenders with more power and flexibility with their workflows, therefore empowering them to expand their borrower demographics.
Notably, the release comes with new features like multi-language subtitles, downloadable PDFs, a redesigned Uniform Residential Loan Application and support for Fannie Mae and Freddie Mac, according to the company.
“Floify is committed to equipping lenders with the most innovative digital solutions to reduce origination times, increase profit margins, and provide their borrowers with a modern and streamlined experience,” said Dave Sims CEO of Floify “Our latest 1003 not only provides loan originators with the systems they need to excel in this highly-competitive market but also to better serve the diverse communities in which they live and work.”
Pavaso, a provider of digital technology for the mortgage industry, recently announced it is among the first vendors approved and authorized by the Michigan Secretary of State to support electronic notarization and remote online notarization in the state of Michigan.
As one of the only four platforms to be approved by the state, Pasavo enables Michigan’s notaries and their customers to access, save and share notarized documents any time, from anywhere.
According to the company, Pavaso’s user-friendly platform brings notaries and their customers together in a secure digital environment, permitting closing agents the freedom to complete the transaction themselves, or the ability to utilize their own existing notary network.
“It’s an honor for Pavaso to help the people of Michigan realize all the benefits of electronic and remote online notarization,” said Nancy Pratt, vice president of partner relations & government affairs for Pavaso. “There’s a reason Pavaso is one of the most utilized platforms of its kind on the market. We work hand-in-hand with government officials to comply with state requirements and with settlement providers to create a best-in-class user experience.”
NotaryCam, a provider of online notarization, also announced it has been approved by the Michigan Department of State to provide both eNotary and remote online notarization services to more than 113,000 notaries within Michigan.
As an approved vendor, NotaryCam had to meet certain state requirements, including a demonstration of their platforms to department staff that covered specific security features like tamper-evident documents and more, according to the company.
“The availability of RON nationwide is inevitable, but it is still a cause for celebration when individual states join the movement to modernize the notarial act by legalizing RON,” Rick Triola, NotaryCam founder and CEO said. “NotaryCam is proud to be among the first vendors approved by the state to provide RON services, and we look forward to helping Michigan notaries continue to deliver the invaluable services they always have, albeit in a more modern and streamlined fashion.”