Wolters Kluwer helps lenders achieve fully digital closing at their own pace | ET REALITY

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Mortgage lenders face multiple challenges in today’s market. Borrowers expect a more digital and convenient experience, especially at closings, and if a lender doesn’t offer it, a competitor will.

At the same time, lenders are under intense scrutiny from regulators and investors and the slightest misstep or error results in fines or buyback demands. Finally, many lenders are losing money or, at best, breaking even on each loan and need to invest in new technology to turn things around. But how can these challenges be balanced in the current low-volume environment?

According to your business strategy, the Wolters Kluwer The portfolio of industry-leading mortgage solutions can be implemented as discrete components or as an end-to-end strategy. Either way, these solutions help boost productivity, ensure compliance, and improve customer experience.

Having the right technology is essential for a successful eClosing strategy. Wolters Kluwer provides options every step of the way to implement solutions as part of the process, and these pieces can be used together later to move toward a fully digital closing process at your pace, depending on your specific strategy for eClosings.

These solutions give users the ability to add different functionality to meet specific needs as the business evolves. Wolters Kluwer reaches its clients where they are in their digital adoption strategy, whether fully paper-based, fully digital, or at any level of a hybrid process.

  • ClosingCenter is Wolters Kluwer’s open eClosing solution that connects and integrates with any document preparation provider, RON provider, title company or settlement service provider.
  • OmniVault enables visibility into all the different eVaults a lender uses on a single platform, regardless of asset type, making it easier to expand digital adoption to other asset classes within your organization.
  • Wiz provides advanced portfolio analytics to identify regulatory risks and demonstrate CRA, HMDA, and Fair Lending compliance.
  • SmartSign Plus is specifically designed for simple, intuitive and compliant electronic document signing throughout the entire loan lifecycle.
  • iLienRED helps you complete, record, and track mortgage-related documents for lien perfection.
  • Finally, Wolters Kluwer’s various document generation solutions offer highly configurable document generation and loan processing based on your needs.

Moving from paper-based to digital processes is the key to reducing costs. Industry ROI studies routinely show improvements in the range of $300 to $400 per loan for fully digital processes that produce electronic notes, rather than paper assets. Wolters Kluwer has an unmatched track record of compliance in the mortgage industry and is the recognized leader in e-note creation and electronic vaulting.

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