Dark Matter Technologies’ NOVA loan origination system (LOS) platform now features a comprehensive integration to the e-closing capabilities powered by the Wolters Kluwer eOriginal ClosingCenter.
Designed to improve the mortgage closing process, eClose will help lenders reduce time-to-close, realize cost savings and provide a better borrower experience while also enabling secondary market activities, Dark Matter says in a release.
The eClose functionality enables users to seamlessly execute the full spectrum of e-closing options: hybrid e-closings, in-person electronic notarization (IPEN) closings and digital remote online notarization (RON) closings. This allows lenders to evolve their e-closing strategy over time and provide borrowers with flexible closing options.
The eOriginal ClosingCenter solution allows NOVA clients to securely e-sign and create e-notes, then deposit loan documents into the eOriginal eAsset Management system for secondary market activities. This allows for compliant transfer and sale of digital lending assets. E-signed documents in the e-vault are legally compliant and maintain the highest level of legal enforceability throughout a digital loan’s lifecycle. This solution simplifies digital lending, reducing paperwork, ensuring compliance and speeding up loan cycles.
“With this capability, lenders can deliver an entirely new level of convenience and efficiency,” says Sean Dugan, CEO of Dark Matter Technologies, in the release. “This saves time and money for lenders while allowing them to engage in secondary market activities and gives homebuyers the convenience of faster closings at the time and place of their choosing.”
“By integrating flexible, modern eClosing options to NOVA LOS, Dark Matter is putting lenders on a fast track to a fully digital future,” adds Shreya Shankar, vice president of partnerships at Wolters Kluwer Financial & Corporate Compliance. “We are thrilled to collaborate with Dark Matter to help NOVA LOS users enhance borrower satisfaction, increase revenue, streamline operational efficiency and unlock the potential of the secondary market through seamless e-closings.”