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ServiceLink Rolls Out New Closing Technology

ServiceLink reports its EXOS Technologies [1] is strengthening its closing offerings with the rollout of EXOS Closing Disclosure [2]. With EXOS no-touch Closing Disclosure, 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, ServiceLink says in a press release.

EXOS Closing Disclosure is now incorporated into ServiceLink’s workflows, which are powered by EXOS Title, the industry’s longest standing 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," company representatives explain.

With EXOS Closing Disclosure 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, they continue. 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, they added.

“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 visit svclnk.com/exos [2]