Author: PROGRESS In Lending

In The NewsIntegration

DocMagic And Vesta Integrate To Digitize The Origination And Closing Processes

DocMagic, Inc., a provider of compliant loan document generation, automated regulatory compliance, and comprehensive eMortgage services, has partnered with Vesta, a new mortgage loan origination system (LOS) and software-as-a-service (SaaS) company, to provide shared clients with automated document generation and automated regulatory compliance during the mortgage origination and closing process.

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AcquisitionIn The News

Big eMortgage Acquisition Announced To Speed Up Industry Innovation

Stavvy, the fintech company reshaping digital and remote collaboration for lending and real estate companies, announced the acquisition of SigniaDocuments, a technology suite from Evolve Mortgage Services. The asset acquisition covers SigniaDocuments’ SMART Doc® technology, eClosing tools, including eSign and electronic notary capabilities, industry-tested eNote and eVault services, as well as eRegistry capabilities for agency and non-agency loans.

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AVM AdvancesIn The News

Valligent Launches ValPROTECT Warranty For Property Valuations

Due to increasing market interest in alternative and enhanced property valuation solutions, Valligent, a Veros Software company, has announced the availability of ValPROTECT Warranty (ValPROTECT), a solution that offers recovery of permitted losses in the event a Valligent property valuation is subsequently determined to have been inaccurate. ValPROTECT Warranty aims to provide lenders and investors with peace of mind knowing the valuation determination at time of origination is protected.

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In The NewsResearch

IMBs Report Net Production Losses In Q3 2023

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $1,015 on each loan they originated in the third quarter of 2023, an increase from the reported loss of $534 per loan in the second quarter of 2023, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.

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In The NewsIntegration

LodeStar Brings Precision Closing Fee Technology To The nCino Mortgage Suite’s Dual AUS Feature

LodeStar, a national provider of closing fee-related compliance tools for mortgage lenders, has integrated with nCino’s (NASDAQ: NCNO) mortgage suite for loan officers, borrowers, real estate agents and settlement agents. LodeStar is the first independent closing fee technology to be incorporated into the nCino Mortgage Suite’s dual automated underwriting systems (AUS) feature, which helps mortgage originators select best-fit products for borrowers by simultaneously submitting loan application data to Fannie Mae and Freddie Mac’s respective underwriting engines.

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