Mortgage Machine Services, offering origination technology to residential mortgage lenders, has announced the launch of its namesake platform, Mortgage Machine.
Mortgage Machine is an out-of-the-box, all-in-one loan origination system (LOS) designed to accelerate lenders’ operational velocity and support an end-to-end digital origination process.
Developed by digital mortgage pioneer and industry veteran Jeff Bode, Mortgage Machine aims to simplify complex mortgage processes and consolidate disjointed operations by leveraging workflow automation, compliance assurance and digital enhancements to create a seamless lending experience.
“The LOS is the operational linchpin for every mortgage business, but most LOS platforms on the market today were not designed to support a fully digital origination process,” Bode says in a release. “As a result, lenders often have to retrofit their existing LOS or work around its limitations to achieve their digital goals. Mortgage Machine was intentionally designed with a digital process in mind, giving lenders the ability to ‘plug n’ play’ and move faster than ever, and has been battle tested inside a digital-first mortgage lender to ensure it can provide the necessary lift lenders need to make the move to e-mortgages.”
Mortgage Machine features AI-powered task automation, a scalable cloud-based infrastructure and flexible API capabilities. The platform also offers pre-configured workflows tailored for retail and wholesale loan processes, ensuring it works across retail, wholesale and correspondent lending channels. With seamless document management and point-of-sale functions, loan officers remain in control of the entire loan lifecycle to increase efficiency, reduce costs and enhance the borrower experience. The system also provides end-to-end support throughout the lending, underwriting, documentation and closing of a residential mortgage loan.
In addition to incorporating the latest AI and document management, Mortgage Machine offers all-in-one e-closing functionality, including an e-close room, eNotes, eVault and remote online notarization (RON). The platform also includes SMART Doc(r) data and security standards from the Mortgage Industry Standards Maintenance Organization (MISMO), enabling lenders to utilize this electronic document format throughout the entire lending process and even into loan servicing.
“SMART Docs are one of the most necessary – and overlooked – components to executing digital mortgage at scale,” Bode says. “Utilizing this standard in Mortgage Machine not only provides lenders with a significant operational assist in getting started with digital mortgages, but it also ensures the security and integrity of the documents and data being processed by the system, thus adding an extra layer of confidence in moving to an entirely automated, electronic origination process.”