HousingWireHousingWire
Mortgage solutions provider ServiceLink has introduced updates to its EXOS Close platform aimed at increasing scheduling flexibility for lenders and borrowers.
The latest enhancements allow users to schedule closings in real-time with expanded options for online and in-branch appointments, and add automatic eligibility checks for remote notarization.
Among the new features is a system that determines in-platform whether a borrower qualifies for remote online notarization (RON), based on specific state and county regulations.
If approved by the lender, eligible borrowers can immediately schedule their closings online.
“We’re proud to build on the legacy of EXOS Close with these new, easy-to-use enhancements that will further strengthen the lender and borrower experience,” said Dave Steinmetz, division president, origination services. “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.
“Our platform even prepares the borrower for the closing type of their choice, with built-in education every step of the way.”
Expansion to allow lenders to schedule in-branch closings is described by ServiceLink as an industry-first.
New features are expected to benefit home equity and refinance transactions by streamlining scheduling and improving transparency, the company added.
The automated RON eligibility feature is designed to support broader adoption of eSignings. By integrating this functionality directly into the platform, lenders can offer borrowers the ability to self-schedule remote closings when permitted.
EXOS Close — which has been in use for eight years — allows borrowers to select a specific time and now location for their closing appointments through access to a nationwide network of notaries.
Borrowers also receive text message updates including the notary’s name, contact details, arrival time, and vehicle description if applicable.
