Lenders will benefit from reduced cycle times and increased efficiencies on the path to close with EXOS CD
ServiceLink’s best-in-class EXOS Technologies is strengthening its Closing offerings with the rollout of EXOS Closing Disclosure (CD). With EXOS no-touch CD, ServiceLink lender partners will benefit from increased efficiencies on the path to close as it digitizes and automates every step of the closing disclosure process – including revisions – for faster origination.
EXOS CD is now incorporated into ServiceLink’s workflows, which are powered by EXOS Title, the industry’s longest standing and most-trusted digital title product. EXOS Title provides lenders with an instant title decision and clear-to-close commitment within seconds using localized machine learning rules and logic, natural language processing and optical character recognition (OCR) technology. This automation allows for a more streamlined title production process, now made more efficient with EXOS CD.
With EXOS CD incorporated, additional “stare and compare” manual processes in the loan closing lifecycle have been automated, reducing the time and effort required for data preparation and ultimately, reducing cycle times and improving quality. Moreover, any revisions that may be needed throughout the closing process can now be processed virtually, with the ability to CD prep within a minute with appropriate workflows.
“We are committed to challenging the status quo in the mortgage landscape by thinking of smart solutions that not only benefit the lender and their bottom line, but improve the borrower experience in the process. EXOS CD is an extension of that commitment,” said Dave Steinmetz, president of origination services at ServiceLink. “Our partners leveraging EXOS CD have reported improved accuracy, reduced cycle times and have enjoyed the ability to schedule their closings immediately after receiving clear-to-close commitments. We’re proud to bring these efficiencies to our partners, particularly during this high-volume period.”
To learn more about EXOS CD and its benefits, visit svclnk.com/exos/closing-disclosure/.