SimpleNexus has integrated its Nexus Closing eMortgage solution with DocMagic’s eVault and eNote technologies. The integration enables automated generation of an eNote with a tamper-evident seal and delivers the eNote to a secure eVault for delivery to the MERS eRegistry, the companies said.
DocMagic’s eVault is a secure repository that provides lenders with the ability to access, manage and store eNotes and other electronic mortgage records on a short- or long-term basis.
By offering proactive, real-time control of electronic loan files, eVault technology reduces cycle times and improves process efficiencies throughout the mortgage lifecycle.
“To stay competitive in this market and future markets, lenders need to adopt eClosing solutions that allow them to generate, sign, store and deliver eNotes as part of a complete eMortgage transaction,” said Dominic Iannitti, president and CEO of DocMagic. “We’re pleased to offer these capabilities to more lenders through our integration with SimpleNexus.”
Nexus Closing provides borrowers a memorably modern closing experience as part of an end-to-end, single-sign-on homebuying experience that increases repeat and referral business.
“A fully digital closing, complete with eNote and eVault, is the last hurdle lenders must clear before offering borrowers and investors the myriad benefits of an eMortgage. We’re pleased to now offer these capabilities via our integration with DocMagic,” said Shane Westra, chief product officer at SimpleNexus. “In a market cluttered with half-baked solutions, we’ve made it our mission to assemble the most comprehensive and singularly exceptional homebuying experience in the business.”