More From National Mortgage News
With no way of knowing just how many borrowers will need the mods after the coronavirus forbearance period ends, lenders are deploying artificial intelligence and servicing protocols to tame the ferocious piles of paperwork awaiting them.
The temporary approval of remote ink-signed notarizations gives mortgage companies another tool for closing deals during coronavirus lockdown.
The company will still offer the product it is most known for, Point.
With the recent acceleration to cloud computing, how can mortgage companies, who constantly deal with sensitive personal information, maintain safety?
The funds will allow the company to make further investment in its machine language technology.
Other safety measures taken to protect settlement agents and consumers include drive-up closings and overnight mail.
Our second monthly survey found a smooth transition to remote work and digital customer access channels — but technology issues still arose. The pandemic has highlighted the importance of having a strong digital presence across all retail sectors, including financial services.
Closing loans is just one way BMO Harris and other banks are looking to use online notarization. But there are obstacles to overcome before it becomes standard practice.