eclosings / emortgages

eClosings / eMortgages &

• Why does Fannie Mae support the industry transition to

electronic closings?

• What are we hearing from our customers?

• What is Fannie Mae doing to enable this transition?

• How can the title & closing segment of the industry support

this transition?

What does that look like?

Central location for all parties to provide ongoing capability

Stay connected with the consumer

Secure communication & notifications

Shared space to produce the closing package

Educational materials & tags

Consumer acknowledgement

Signing Table – Signature setup, click to sign, eNotary

What’s involved to make it happen?

• Business preparation – Alignment of business partners – Change in culture

• Technical deployment – Simple App or Web Based – Touch Screen Computer – Training/Implementation

• Promote it!

What are the benefits?

• Scale up & do more with same amount of staff

• Reduce costs and time in the process

• Increase consumer satisfaction (recently proven by CFPB’s eClosing pilot)

• Increase revenue by being able to differentiate yourself

• Align with the mission, vision & values of the CFPB (“good faith effort”)

• Stay connected to the consumer so you’re there when they need you

Advanced eClosing Life-of-Loan eClosing Solutions

ServiceLink, A Black Knight Company Confidential, Proprietary and/or Trade Secret TM & © ServiceLink IP Holding Company, LLC, and/or an affiliate. All Rights Reserved. 2

CFPB Advanced eClosing Initiative • CFPB Issues Advanced eClosing Pilot Guidelines 4/2014 • Supports new Loan Estimate and Closing Disclosure • Electronic Capabilities could include:

– eDelivery of Documents • Early Disclosures – Loan Estimate • Appraisal • Closing Disclosure • Loan Closing • Post-Closing & Servicing

– Document Review & Educational Tools • Chat • Web-links

– Document Acknowledgement and eSignature – Document Collection – eNotary – eRecording

• CFPB Pilots – Results published August 2015

• CFPB Next Steps


Life-of-Loan eClosing Solutions

eClosing Solutions expedite turn times, reduce costs and simplify closing processes. Improve disclosure compliance

Reminder e-mails with opt out option

Document delivery, collection, acknowledgment, eSign and eRecording

Effective, time-tested solutions

Loan documents delivered to consumers via platform and print, pack & ship process

Instant closing confirmation

Automated post-closing QC check

Audit tracking of all events

Loss Mitigation and Loan Modification solutions

Additional Capabilities


Types of Documents Transmitted, Routed & Demo Documents can be delivered, eSigned, collected and provided for completion. These documents can include the following:

Origination Sales Contract HOA Property Inspection Statement of Information Loan Estimate / Intent to Proceed Initial Disclosure Packages Web Forms (4506T, etc.) Collection of Stips (Pay Stubs,

Tax Returns, W2s, etc.) Appraisals Lender Commitment Letter HUD1 / Closing Disclosure Closing Packages/Documents

– RealEC Integration

– Doc Prep Company Integration

– Settlement Agent Upload

Servicing Loan Modification Documents Web Forms (4506T, RMA, etc.) REO Documents Short Sale Documents


Audit History Capability

Audits include all creation events as well as actions taken by the borrower and include date and timestamp of each event (examples listed below):

– Successful Authentication – Machine Profiling – Experian Level 3 Authentication – SMS – Security Code sent

– Acceptance of Disclosures – Chat Transcript – Viewed Document – eSigned Document – Accepted Document – Uploaded Document – Completed Web Form – Answered Polling Question


Document Life-Cycle Traceability

Important features to confirm and trace consumer and client user activities:

Full Audit History – Order Level

– Document Level

– Borrower and Client User Activity

– Chat Transcripts

Machine Profiling and Fraud Detection – Complete history of each login attempt with IP Address and machine attributes

– Audits stored for each login requiring Security Code due to change in IP address or for other elevated fraud risks (Security code sent using SMS Technology via texting or emailing)

Authentication History – History of each Experian Level 3 Authentication attempt

Document Versioning including Cancelled documents – Cancelled documents will be removed from Consumer online view but will remain in the client site and database

for tracking purposes

Integration log of all XML events between any integrated systems is available at the order level for viewing in the Application or for reporting.


Mobile Capabilities

Mobile Friendly Application that can be viewed on tablets

and mobile devices as the screen resolution will adjust based on the device

HTML browser based solution that will display as a full website on any supported iOS or Android device

Mobile Notary Application – In-field closing agent captures photos of

each critical document and uploads to ServiceLink

– Technology used to perform instant automated post-close review

– Closing agent corrects deficiencies before borrower leaves closing table

Collaboration & Post Closing

What changes for me if I use these new services? E-RECORDING

Connect to the counties

You open the package post-closing

Your post-closing users have Simplifile logins

COLLABORATION & POST CLOSING

Connect to lenders

Lender opens the loan pre-closing

Any user (pre and post close) may have a Simplifile login. You will have an admin role to assign loans to specific closers & post closers

What doesn’t change? E-RECORDING

Only pay for e-recording

One login to all my packages

May access via the Simplifile website and/or integration

COLLABORATION & POST CLOSING

Only pay for e-recording

(Lender pays for new services)

Same login to access loans assigned by lenders Website available and integrations coming

How does this help me?

• Enables lenders to send you deals • One login to collaborate with participating lenders • No charge to collaborate with your lenders • Continue through final documents

Creating Loans

Lender creates loan • Lender creates a loan record in Simplifile

• Integration/UI

Created loan record • Notice sent to Closing Company Admin(s)

• In app, email and/or integration

Assigning to a Closer • New record in Created status for both Lender and Closing Company • Admin(s) for a Closing Company assign to a Closer • Closers can self-assign (if permitted) but Lender cannot • Once assigned, the loan moves from Created to In Progress

General Tips to Work with Loans

Collaboration vs. e-Recording • Systems are integrated: same login • Toggle between Collaboration and e-Recording • Only Closing Company can access e-Recording

Find a Loan • Loans on top represent loans with the most recent activity • Search for any loan via the Search bar using any of the loan

attributes (zip code, name, loan #, companies) • Searches all statuses (In Progress, Pending Final)

Choose your View • You can work in Card or List view

The Card View • Contains key loan attributes • Updates with successive data refreshes • Imbedded chat feature

The List View • Loans in the status selected from the left menu • Click on Loan # to open loan • Each column is sortable

Working Inside a Loan

The Loan Menu • Within a loan, there are 6 sub sections/tabs • Loan Info, Documents, Disclosures, Contacts, Messages & Activity

Loan Info • Key loan attributes • Updated when additional UCD files uploaded

Documents • Documents added from both Lender and Closing Company • File types = xml, .docx and .doc, .tif and .tiff, .gif,.txt, .xlsx, .png, .jpg, and PDF

Disclosures • Fee sharing and negotiation

Contacts • Key loan contacts (mapped to Closing Disclosure) • Updated when UCD files uploaded

Messages • Chat feature • Instant, two way communication

Activity • All Activity from both sides • Fee level activity • Exportable

Collaborating on a Loan

Sharing Documents • View, add and download documents (Lender and Closing Company) • File types = xml, .docx and .doc, .tif and .tiff, .gif,.txt, .xlsx, .png, .jpg, PDF • Document types by user perspective (Lender vs. Closing Company) • Notification to other party after uploaded

Sharing Documents • Download documents via Download icon • Fee data set can be downloaded via Download/UCD.xml icon

Fee Collaboration: Datasets • Two datasets: Working and Master

• Working = Accepted and Proposed fees • Master = Accepted fees only

• LOS still the Lender system of record

• Closing system still Settlement Agent’s system of record

• You decide when you pull back fees

Fee Collaboration: Proposed Fees • Fees can be added in portal or via data upload • = you proposed fees to other side (awaiting acceptance)

Fee Collaboration: Proposed Fees • = other side proposed to you

Fee Collaboration: Adding a Fee • A fee can also be added in the portal • Fees allowable by section • Searchable fee types and descriptions • Pending to party who added – waiting acceptance

Fee Collaboration: Accepting an Added Fee • New fee identified by • Select to accept fee and commit to Master database

Fee Collaboration: Editing a Fee • Either side can edit a proposed fee • Click on any field on line to edit. Save changes. • Fee moves to pending awaiting other side’s acceptance • Click to see edits

Fee Collaboration: Accepting an Edited Fee • indicates that a fee was edited and needs acceptance • Click to see edits • Select to accept fee and commit to Master database

Fee Collaboration: Deleting a Fee

• Fee moves to pending awaiting other side’s acceptance • Strikethrough of fee line to indicate you proposed a delete

• Select to propose a delete

Fee Collaboration: Accepting a Delete • indicates that a fee was deleted and needs acceptance • Select to accept delete and commit to Master database

Fee Collaboration: Rejecting a Delete • Select to “undo” the delete and propose an add of the fee back

Fee Collaboration: Fee Chat • If you add chat to a fee, the other party will be notified. • Chat history maintained in Messages Log

Fee Collaboration: Real Time Collaboration • Each party will be notified of the other side’s changes to fees • If you are in portal, you will see changes live

Post Closing

Changing Loan Sub-Status • Lender only • Once Funded, loan moves to Pending Final

Submit for Recording • Closer only • Select to start the recording process from the Card view

Sharing Recording Information • Both Lender and Closing Company can filter their Pending Final

pipelines to see loans by Status • Started, Sent, Recorded and Rejected • Lender can self serve

Return of Other Trailing Documents • Via Documents Tab

Next Steps

Next Steps • Register your entire organization at simplifile.com/capc-registration/

• Add new users

• Add permissions for existing users

• New user accounts and passwords will be sent to your company Admin

• Once added, you will see functionality in delta.simplifile.com

• Or email [email protected] and request our spreadsheet registration form

• Once you register, it applies for all lenders that join the Simplifile platform