Mortgage Cadence LLC, an Accenture company, announced an integration with Digital Transaction Management provider DocuSign, Inc. and the vaulting, transaction and transferable records services of eOriginal, Inc. This new integration helps to expedite the mortgage origination process while creating a more streamlined, reliable and secure digital experience for borrowers, lenders and investors according to the announcement.
With Mortgage Cadence’s proprietary Document Center solution, documents are generated dynamically in seconds based on loan-level data, and then are delivered for electronic signature using DocuSign. Lenders and borrowers alike now are able to securely review and electronically sign disclosures and closing packages in minutes – anytime, anywhere, on nearly any device.
“DocuSign and Mortgage Cadence share a vision for a digital future where the hassles, costs and lack of security from the reams of paperwork required to apply for, process and close a mortgage are a thing of the distant past,” DocuSign Vice President of Real Estate Solutions Georg Gerstenfeld said in a news release. “The integration of DocuSign and eOriginal into Mortgage Cadence’s Document Center advance us towards that digital future today by empowering anyone to transact business all-digitally.”
eOriginal extends the Mortgage Cadence loan experience by allowing lenders to deliver a fully electronic mortgage process built around its best-of-breed solution, which recently was certified as a Fannie Mae eMortgage solution provider.
“With a new generation of homebuyers and increasing demands for transparency from regulators and investors, we have reached a tipping point in the digital transformation of the mortgage industry,” eOriginal CEO and President Stephen Bisbee said. “Working with great partners like Mortgage Cadence and DocuSign, we have paved the way for an outstanding end-to-end solution that offers a practical migration path for adopters while addressing an acute need for data exchanged between counterparties.”
All signed documents are tracked, retrieved and stored in the Mortgage Cadence Enterprise Lending Center or Loan Fulfillment Center, ultimately driving additional tasks and keeping the lender on-platform and focused on the lending process. DocuSign and eOriginal will help enable the following benefits:
- Security: All communication occurs using encrypted technology with two-factor authentication, while documents and loans are protected with security measures for encryption, data backup and 24/7 monitoring of all systems.
- Borrower–Lender transparency: All parties are notified when major milestones are achieved, such as the borrower successfully signing all of the required documents. Also, reminders are configurable to set follow-up tasks, reminding staff to reach out to the borrower if they have not received the all-signed notification.
- Greater simplicity: The electronic signing process walks borrowers through signing documents using an intuitive and familiar screen flow, making review-only documents easily accessible. Mortgage Cadence’s loan origination solutions also track which documents have been signed and which still require signature, allowing the borrower to complete the process at their leisure.
- Stability: Advanced infrastructure, technology and solutions help to ensure that eSigning is a stable, reliable and dependable part of the mortgage transaction.
- All-digital: Provides clients with consumer engagement tools like eSign, eClose and other closing collaboration tools.
“Most borrowers today – whether millennials or baby boomers – are accustomed to doing just about everything online,” Mortgage Cadence President Trevor Gauthier said. “In order to increase borrower satisfaction, lenders require tools that allow them to originate and close mortgages digitally. Integrating with DocuSign’s and eOriginal’s best-in-class eSignature and eClosing solutions, along with our proprietary loan origination and document preparation and delivery solutions, allows us to provide an incredibly robust service to our clients and their borrowers – a testament to our dedication to the mortgage industry.”