Digital mortgage services provider, ServiceLink, announced enhancements to its EXOS Close technology designed to provide more flexibility for lenders and borrowers using the technology to schedule their closings.
Enhancements include new options for online and in-branch closings in addition to an instant in-platform determination of remote closing eligibility, assessing state and county acceptance requirements and, with lender approval, automatically giving borrowers who are eligible the option to immediately schedule their closing online.
“With the tap of a finger, users can instantly choose when, where and how they want to close, and lenders can save money by sunsetting antiquated processes used for in-branch closings, where little to no technology previously existed across the market,” stated Dave Steinmetz, division president, origination services at ServiceLink, regarding the EXOS Close enhancements.
“Our platform even prepares the borrower for the closing type of their choice, with built-in education every step of the way,” he noted.
The addition of the in-branch scheduling selection and built-in, automated remote online notarization (RON) eligibility determination allows lenders to schedule all their closings through EXOS, according to ServiceLink. The in-branch scheduling option is unique to the industry — ServiceLink claims that its technology alone offers the ability for a lender to schedule in-branch closings.
This new option is designed to help with home equity and refinance transactions, increasing efficiency and transparency in the process. Access to the RON eligibility determination will allow lenders to adopt and scale eSignings and extend the option to their borrowers to self-schedule their own RON closing event.
