Lenders Employ Hybrid to Full eClose Capabilities to Advance eMortgage Experience
SCOTTSDALE, ARIZ., Sept. 17, 2018 – Docutech, the leading provider of document eSign, eClose and print fulfillment technology, today announced that Movement Mortgage, PrimeLending, Stearns Lending, and New Penn Financial have selected Solex eClose to facilitate a more streamlined, expedited digital mortgage experience.
Movement Mortgage, PrimeLending, Stearns Lending, and New Penn Financial each recognized the benefits of Solex eClose in serving to effectively help them accelerate and streamline the loan process from application to closing and reduce cycle times from closed loan to investor purchase through secure generation, delivery, signature, close, transfer and storage of electronic loan documents. As a complete end-to-end integrated eClosing solutions platform, Solex eClose enables each transaction to be as digital as possible from hybrid eclose capabilities all the way through full eNote eclose functionality.
“EasySign from Movement Mortgage is the next step in our journey to deliver the industry’s best digital experience for homebuyers, real estate agents and loan officers,” says John Third, chief operating officer for Movement Mortgage. “Solex eClose from Docutech helps us provide our clients with the transparent, accessible, timely and secure closing they expect from their lender.”
“At PrimeLending, our focus is clear – to provide the best mortgage experience possible for homeowners,” said Tim Elkins, EVP and CIO, PrimeLending. “Integrating Solex eClose with our digital mortgage platform is a great fit, giving us more ways to deliver the speed, convenience, transparency and security our customers demand and deserve.”
Approved by both Freddie Mac and Fannie Mae for eClosing, eNote and eVault functionality, the Solex eClosing platform, in partnership with Simplifile, provides lenders with a comprehensive integrated eClosing solution, with eSigning efficiencies from initial document generation through post-closing. In addition, the Solex eVault is integrated with the MERS eRegistry for all eNote management transactions.
“At Stearns, we are passionate about providing the best possible customer experience and continually innovating to ensure we that we close loans as fast as possible,” said Uday Devella, CIO, Stearns Lending. “Docutech understands the mission of Stearns Lending and has been with us every step of the way to deliver the best possible document and eSign experience providing efficiencies for our customers and our operations.”
Solex eClose enables lenders to extend the digital setting from the initial delivery of the closing document package to the borrower all the way through to eRecording. Through direct integration with ConformX, Docutech’s dynamic document generation engine, lenders can create accurate, data-driven electronic documents, including eNotes, which are then automatically and electronically delivered to Solex for the borrower to review and (optionally) eSign before closing. From there, Solex enables the closing agent and borrower to complete the closing electronically with full notarization capabilities. Once closing is complete, the necessary documents can be electronically recorded with the county recorder and are then returned to the lender for storage in Docutech’s secure eVault, which supports MERS eRegistry and eDelivery.
“As an organization, New Penn Financial specializes in finding the right loan to fit each of our borrowers and the unique needs they bring with them,” said Dena Kwaschyn, chief fulfillment officer for New Penn Financial. “With the help of Docutech’s Solex eClose, we can provide borrowers with an optimal level of efficiency and convenience while also assisting our organization in better managing the full loan process through a more digital mortgage experience.”
“We couldn’t be more excited to work alongside these innovative lenders as they deliver an electronic closing experience to their customers,” said Amy Brandt, president and CEO of Docutech. “As a company, we strive to remain at the forefront of the industry’s eMortgage evolution by providing lenders with expert guidance and leading-edge technology specifically designed to optimize efficiency and the customer experience.”
About Movement Mortgage
Movement Mortgage exists to love and value people by leading a Movement of Change in its industry, corporate culture and communities. Movement funded approximately $13 billion in residential mortgages in 2017 and is the seventh-largest retail mortgage lender in the U.S. Movement is best known for its innovative mortgage process and referable experience, which begins with Upfront Underwriting and a seven-day loan processing goal. The company employs more than 4,000 people, has more than 750 branches in the U.S. and is licensed in 49 states. Its nonprofit organization, the Movement Foundation, has reinvested more than $37 million in communities to date. For more information, visit www.movement.com.
PrimeLending, a PlainsCapital Company, is a proven powerhouse in home lending, combining personal guidance and local expertise with fast service, more choices and the flexibility to meet homeowners’ unique needs. We’re a Top 10 national home lender1 relentlessly focused on empowering our customers to boldly pursue their homeownership goals. Whether they’re looking to buy, refinance or renovate a home, the PrimeLending team works alongside our customers in all 50 states, helping them make smart home financing decisions and have a rewarding experience along the way. Delivering on this promise for more than 30 years, we’re proud to consistently earn a 96% customer satisfaction rating2 and become homeowners’ lender for life. PrimeLending is a wholly owned subsidiary of PlainsCapital Bank, which in turn is a wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH). More information at PrimeLending.com. Equal Housing Lender.
1 As reported by Marketrac, powered by CoreLogic® for purchase units nationally for 2012-2017.
2 Survey administered and managed by an independent third party following loan closing. 96% satisfaction rating refers to the rating our customers give our loan officers. Our loan officers have received a 96% Customer Satisfaction Rating.
About Stearns Lending, LLC
Stearns Lending, LLC is a leading provider of mortgage lending services in Wholesale, Retail, and Strategic Alliances sectors throughout the United States where licenses are held. The company was ranked as the #3 Wholesale Lender nationwide by Inside Mortgage Finance in June of 2018.
Stearns Lending is an equal housing lender and is licensed to conduct business in 49 states and the District of Columbia. Additionally, Stearns Lending is an approved HUD (United States Department of Housing and Urban Development) lender; a Single-Family Issuer for Ginnie Mae (Government National Mortgage Association); an approved Seller/Servicer for Fannie Mae (Federal National Mortgage Association); and an approved Seller/Servicer for Freddie Mac (Federal Home Loan Mortgage Corporation). Stearns Lending is also approved as a VA (United States Department of Veterans Affairs) lender, a USDA (United States Department of Agriculture) lender and is an approved lending institution with FHA (Federal Housing Administration). Stearns Lending, LLC is located at 4 Hutton Centre Drive, 10th Floor, Santa Ana, CA 92707. Company NMLS# 1854.
About New Penn Financial
New Penn Financial® is a leading nationwide lender that brings expertise, extremely competitive rates on a broad portfolio of mortgage products, and exceptional customer service under one roof. Founded in 2008 and licensed in 49 states, the company and its reputation have grown under the guidance of a management team with years of experience in the mortgage industry. New Penn is headquartered in Plymouth Meeting, Pennsylvania and operates offices nationwide. New Penn is a Shellpoint Partners company and now part of the New Residential Investment Corp. family. More information is available at newpennfinancial.com.
Docutech offers a wide range of document technology solutions for mortgage, home equity, and consumer lending from document generation to eDelivery, eSign, eClose and print fulfillment. The company sets the standard in providing market-proven technology and unrivaled customer service to the financial industry. Docutech’s knowledge and solutions empower lending professionals to efficiently produce accurate loan packages in all 50 states to ensure compliance with constantly changing laws and regulations. For more information, visit the company’s website at www.docutech.com or follow them on social media at LinkedIn or Twitter @Docutech.