DocMagic launches new closing solution

Housing Wire

The Guide to Accelerating Closings in 2022. Each of eDecision’s core capabilities provides a check on whether or not each part of the closing process can be completed digitally in a given jurisdiction. The post DocMagic launches new closing solution appeared first on HousingWire.

Digital closings have spiked 228% since 2019

Housing Wire

The number of title and settlement companies offering digital closings has increased 228% since 2019, as more of the industry moves online in the wake of the COVID-19 pandemic. Now, in 2021, 46% offer digital closings, according to Diane Tomb, ALTA chief executive officer.

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MISMO searches for participants for closing initiative

Housing Wire

The Mortgage Industry Standard Maintenance Organization (MISMO) announced last week that the organization is looking for participants for an initiative focused on standardizing pre-closing title document data sets.

How to avoid home closing delays in 2022

Housing Wire

HousingWire recently spoke with Tom Kriby, Vice President of Client Development and Partnerships at Westwood Insurance, about how insurance issues can hold up a home closing and how lenders can integrate insurance into their process to help their homebuyers avoid delays.

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Lenders can use closing technology as a bargaining chip

Housing Wire

Additionally, borrowers have stated that the two most appreciated aspects of an online application process were “a simpler application process (55%) and reduced time to close (53%).” Creating a tech stack geared towards increasing closing efficiency isn’t just about offering eClosings.

Guaranteed Rate closes Stearns wholesale channel

Housing Wire

The email explained that the last day to register a loan is January 12, while the last day for closing a transaction is February 28. The post Guaranteed Rate closes Stearns wholesale channel appeared first on HousingWire.

Are consistently error-free closings within reach for lenders?

Housing Wire

But as lenders scrambled to keep up with demand, closing errors naturally crept in. A prime example, digital mortgage closing solution Snapdocs reports that its digital closing platform reduces closing errors by 80%. A more efficient, profitable closing process.

Closing costs are up, but there’s a catch

Housing Wire

The average closing costs for a single-family home increased 12.3% According to ClosingCorp, the average closing costs nationally came in at $6,837 including taxes and $3,836 excluding taxes. The report also found that refi closing costs increased by 4.87% to $2,398 from the reported 2020 average of $2,287. Bob Jennings, CEO of ClosingCorp, said that closing costs as a percentage of purchase prices actually declined this year to 1.03% from 1,06% in 2020. “So,

ICE, DocMagic team up to offer closing technology

Housing Wire

ICE Mortgage Technology will now deploy an “eVault” solution as part of its mortgage closing platform to ensure the secure storage of digital mortgages and notes, it announced late last week. ” In the past year, DocMagic has made headlines in the digital closing space.

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Speaker: Paul Moya - CEO, Millennial Labs, and The Go-To Performance Marketing Strategist and Realtor Coach for the Best in the World

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2022 Tech100 nominations are closing soon!

Housing Wire

Nominations for the 2022 HousingWire Tech100 Mortgage and Tech100 Real estate are closing today. The Tech100 Mortgage Award recognizes the companies and solutions that are revolutionizing the mortgage process – from origination to closing, and servicing to secondary markets.

The future of mortgage closings

Housing Wire

A painstaking, uncoordinated movement to fully adopt remote online notarizations nationwide and complete end-to-end digital escrow mortgage closings is gaining even more traction as the real estate industry launches into a new decade in 2021. Closing HWplus

Zillow’s purchase of ShowingTime closes

Housing Wire

However, the Federal Trade Commission delayed the deal’s close by extending the review period. The post Zillow’s purchase of ShowingTime closes appeared first on HousingWire.

Closing costs: Here’s how much money you really need to buy a house

Housing Wire

Understanding what expenses are required at closing to buy a house will help you budget and save more effectively. In this article, we break down exactly what closing costs are so you’re prepared when you start shopping for a home: What are closing costs?

Why 28% of mortgage applicants never close the loan

Housing Wire

Get $75 off your initial membership with coupon code “intro75” The post Why 28% of mortgage applicants never close the loan appeared first on HousingWire. Lonnie Glessner isn’t normally one to turn down business. But with origination volume expected to exceed $3.4

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Creating a more secure closing process for everyone involved

Housing Wire

The post Creating a more secure closing process for everyone involved appeared first on HousingWire. Sponsored Content consumer wire account verification service cwav Digital closing fraud prevention fraud protection FundingShield Ike Suri mortgage wire fraud wire fraud

Multi-closing fraud risk holds steady in 2020

Housing Wire

A new annual report from CoreLogic shows multi-closing fraud risk held steady in 2020 after having decreased the past several years. According to the CoreLogic Multi-Close Alert Program (MCAP), 2020 is projected to have a similar level of findings as was seen in 2019.

Time to close on mortgages growing amid soaring volume

Housing Wire

Ellie Mae ’s Origination Insight report for October demonstrates some of the side effects of the historically low mortgage rates we’ve seen in 2020: incredibly high volume and an increase in time-to-close. The number of closed loans increased 7.1%

Snapdocs gives lenders a proven path to adopting digital closings, powering millions of closings a year

Housing Wire

The technology components required to digitize closings – things like eSignatures and webcams – have existed for decades. But until recently, digital closings had never been adopted at scale. Technology alone does not enable closings at scale.

Purchase market will highlight closing process problems

Housing Wire

The closing process, that time between underwriting approval and the actual closing, is the mortgage industry’s not-so-secret Achilles’ heel. That’s not a knock on the good professionals who enact minor miracles choreographing the multi-faceted ballet that is a typical closing.

CoreLogic acquires closing solutions firm ClosingCorp

Housing Wire

Data analytics giant CoreLogic announced on Wednesday the acquisition of closing cost data and tech provider ClosingCorp. Previously, ClosingCorp integrated CoreLogic’s Property Tax Estimator into its SmartFees service and closing platforms in 2018.

With Nexus Closing from SimpleNexus, lenders can make the closing experience as digital as they want

Housing Wire

As homebuyers complete more of the origination process digitally, from asset verification to disclosures, they expect a similarly modern closing ceremony. Nexus Closing from SimpleNexus enables lenders to deliver mortgages that are digital from application to closing.

What’s holding the industry back from broad-scale digital closing adoption?

Housing Wire

For well over a decade, the industry has made steady progress in digitizing mortgage closings. As a result, closings today fall on a spectrum of digitization, with benefits that increase with each component that is digitized and each document that is electronically signed (eSigned).

How DocMagic is helping accelerate digital closings

Housing Wire

Powered by its proprietary Audit Engine, DocMagic’s Document Preparation solution optimizes every aspect of the document process, from initial disclosures all the way through closing. The post How DocMagic is helping accelerate digital closings appeared first on HousingWire.

Snapdocs helps lenders perform digital closings at scale, shortening closings by two days on average

Housing Wire

Mortgage closings require tight coordination between many parties in a fragmented ecosystem, all of whom have their own systems and processes. Instead, they can completely automate the work that’s needed to prepare documents for hybrid closings or eClosings.

2021 Tech Trendsetters nominations are closing soon!

Housing Wire

The post 2021 Tech Trendsetters nominations are closing soon! Each year, HousingWire selects 50 of the most impactful and innovative technology leaders serving the housing economy.

Lenders pick up the pace in closing mortgages

Housing Wire

The average time to close on a mortgage has decreased for a fourth consecutive month to 51 days, according to a new study from ICE Mortgage Technology. The percentage of purchase mortgages increased to 43% of total closed loans.

Notarize and Realogy Title Group see 200% spike in RON closings

Housing Wire

Spurred by the impact of the coronavirus, the partnership closed more than 1,600 RON transactions in the first half of 2020, a more than 200% increase over the 500 RON transactions that they closed in all of 2019, the companies told HousingWire. “We

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Snapdocs raises $60 million to scale up its digital closing business

Housing Wire

million digital mortgage closings this year, more than double its volume from 2019. We’re feeling tremendous growth on the digital closing front which is really, really exciting,” Snapdocs Founder and CEO Aaron King said in a statement.

The rapid adoption of digital closings during COVID-19 shows what’s possible in the mortgage industry

Housing Wire

We sat down with Nancy Alley, vice president of strategic planning at Simplifile and one of HousingWire’s 2020 Women of Influence, to talk about the rapid changes in the closing process as a result of the pandemic. Yet, adoption by closing and post-closing operations lagged considerably.

Black Knight’s Expedite Close eClosing solution uses automation to select the best way to close each loan

Housing Wire

More than ever, borrowers want and expect to close their loans digitally, from the initial loan application through the final review and approval of their loan package. With Expedite Close, a better way to close is here.”.

Rocket Mortgage performs first eNote close on Ginnie Mae mortgage

Housing Wire

In December, Rocket Mortgage became the first lender to use eNotes in closing a Ginnie Mae -backed loan as part of a pilot program. Eventually, I think what you’re going to see is the entire industry adopts this as a method of closing, because it’s really a better consumer experience.”.

Fraud risk factors at closing increased almost 90% last quarter

Housing Wire

As housing professionals navigate regulatory changes and accelerated tech adoption, wire and title fraud risk factors in mortgage and real estate closings increased almost 90% in the last quarter.

States Title raises $150M for home closing tech

Housing Wire

Title insurance upstart States Title announced this week $150 million in debt financing from HSCM Bermuda , which will go towards developing a more modern home closing experience. As a result, State Title was able to patent technology that removed entire chunks of the closing process.

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What does it really mean to digitize the closing process?

Housing Wire

In advance of that announcement, HousingWire Editor-in-Chief Sarah Wheeler had the opportunity to catch up with ICE Mortgage Technology President Joe Tyrrell to talk about what it actually means to digitize the closing process. The post What does it really mean to digitize the closing process?

How Long Does It Take to Close on a House From Start to Finish?

HomeLight

How long does closing take from here? But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. 24, you can expect to close on the sale of your home somewhere between the end of February to mid-March. In closing….