Technology Emerges To Expedite Refinance Transactions

WFG Lender Services, a Williston Financial Group company providing services and technology solutions that enable lenders to take time and cost out of mortgage transactions, has released the MyHome Exchange. Originally introduced in 2015 for residential resale transaction participants, MyHome Exchange is WFG’s first MyHome suite offering developed specifically for use in the refinance segment.

“Building on the popularity of the original MyHome offering, MyHome Exchange will solve similar problems in the refinance space, which have been exacerbated by the huge volumes we’re now seeing,” said Dan Bailey, SVP WFG Lender Services & WFG Enterprise Solutions. “We designed MyHome to be intuitive and simple for borrowers to understand as they move through the collaboration process.”

MyHome brings mortgage transaction participants together within a single, easy-to-use ecosystem, enhancing communication and transparency, resulting in a better borrower experience. MyHome streamlines the loan process and enhances throughput by eliminating duplicate touchpoints, enabling pro-active communication, and facilitating data and document collection, storage and sharing.

 In addition to providing a convenient, secure and intuitive self-service environment for enhanced transparency, MyHome increases operational capacity by collecting and delivering documentation and information in a secure repository, enabling the processing and closing of more loans.  It also reduces application-to-close turn-times, eliminates operational waste, and improves lender throughput.

“We are excited to extend the benefits of MyHome further into the refinance segment with the introduction of MyHome Exchange and look forward to collaborating with our lender partners to create a better experience for all transaction participants, particularly their customers,” said Bailey.