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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 8 July 2024 M T E C H REPUBLIC BANK CHOOSES SNAPDOCS TO ACCELERATE DIGITAL MORTGAGE CLOSING STRATEGY S napdocs, a digital closing provider, has partnered with Republic Bank & Trust Company to accelerate its eClosing adoption offerings. Republic Bank's eClosing goal is to increase productivity and efficiency across its entire loan portfolio, including its grow- ing home-equity line-of-credit (HELOC) business. The bank selected Snapdocs for its expertise in driving eClosing adoption at scale, ease of use, flexibility to support all loan and closing types, and integration with Byte, the company's loan origination system. Republic Bank is confident the Snapdocs eClosing platform will deliver faster closing times, fewer errors, and significant cost savings. "We are continuously innovating to streamline our operations, manage costs effectively, and consistently deliver an exceptional customer experience," said Tim Poole, SVP and Director of Loan Operations at Republic Bank. "Snapdocs is the perfect partner, guiding us through every step to accomplish these goals. With the Snapdocs eClosing platform, we gain an intuitive solution backed by a team of experts who will be instrumental in help- ing us scale digital closings." Republic Bank will use the Snapdocs platform to scale hybrid closings and wet transactions before launching fully digitized closings. By ensuring a seamless, secure flow of data through Byte, the Snapdocs eClosing platform will enable Republic Bank to initiate digital closings and view real-time loan status updates directly from their loan origination system. "We look forward to providing the technology, support, and partner network Republic Bank needs to digitize closings and help borrowers reach their finan- cial goals," said Michael Sachdev, CEO of Snapdocs. "We're confident that our deep expertise in supporting the HELOC closing process will give Republic Bank a competitive advantage." TRUEWORK ANNOUNCES INTEGRATION WITH THE EMPOWER LOAN ORIGINATION SYSTEM T ruework, a platform for income and employment verification, has its new integration capabilities with the Exchange network of mort- gage-specific service providers available to customers of the Empower loan origination system (LOS) by Dark Matter Technologies. With this integration, mortgage lenders can access the Truework platform and verify U.S. employees' income and employment directly within the Empower LOS. Lenders have been migrating to True- work for its 75% completion rates and use of multi-method verifications to seam- lessly orchestrate income requests for any borrower. Now, Empower customers can access this advantage directly within their Empower LOS. Lenders like Ross Mortgage and Lake Michigan Credit Union have already start- ed the enablement process for Truework inside their Dark Matter instance. This new approach lets Empower LOS users take advantage of more efficient under- writing processes, cost savings, and trans- parency. Processors can view real-time updates on every verification request di- rectly within the Empower LOS, enabling faster processing times and improving the borrower experience. With this integration, mortgage lend- ers using Empower can make the income verification process more predictable and deliver a seamless mortgage journey to more borrowers. "Customers of the Empower LOS can now deliver a better experience for borrowers while taking advantage of max- imum timesaving and cost-reduction ben- "Lenders today must support both operational efficiency and excellent customer experiences." —Rich Gagliano, CEO, Dark Matter Technologies