Docutech, a provider of document and compliance technology for mortgage, home equity and consumer lending, and Simplifile, a network for connecting lenders, settlement agents and county recording offices, announced an agreement that move the digital mortgage revolution another step forward.
In a release, the companies said that the partnership will combine of Docutech’s Solex eClosing solution with Simplifile’s services to “create a seamless eClosing solution for agents, lenders and borrowers that allows each transaction to be as digital as possible, down to a document and jurisdiction level, while maintaining a standardized process on every loan.”
According to the companies, title insurance and settlement agents will have the ability to conduct eClosing ceremonies, eSign, eNotarize and eRecord, while lenders will be equipped with a solution that “extends beyond the closing table well into post-closing.”
Through the partnership, borrowers will be able to preview their closing packages and eSign any documents that don’t require notarization prior to closing if they choose to.
From there, the closing agent and borrower can complete the closing electronically, with full eNotarization capabilities. Then, once the closing is complete, closing agents can electronically submit documents to counties for recording.
The lender will then electronically receive the recorded documents and data along with other trailing documents.
“As more and more lenders strive to make eClose their transactional standard, we are focused on delivering the comprehensive solutions they need to optimize this process and provide their borrowers with the most streamlined experience,” Amy Brandt, president and COO of Docutech, said. “Our integration with Simplifile enables us to bring the industry one step closer to a mainstream paperless mortgage process, and we couldn’t be more excited about this advancement.”
Paul Clifford, president of Simplifile, said the company is “thrilled” to partner with Docutech. “By working together, we are creating the necessary infrastructure to transform digital mortgages from whiteboard to reality today,” Clifford said.