Dark Matter Technologies announced the NOVA loan origination system (LOS) platform now features eClosing capabilities powered by the Wolters Kluwer eOriginal ClosingCenter. Designed to improve the mortgage closing process, eClose in the NOVA LOS will help lenders reduce time-to-close, realize cost savings and provide a better borrower experience while also enabling secondary market activities, according to a release.
The NOVA eClose functionality enables users to execute hybrid eClosings, in-person electronic notarization (IPEN) closings and digital remote online notarization closings. This allows lenders to evolve their eClosing strategy over time and provide borrowers with flexible closing options.
The eOriginal ClosingCenter solution allows NOVA clients to securely eSign and create eNotes, then deposit loan documents into the eOriginal eAsset Management system for secondary market activities. This ensures compliant transfer and sale of digital lending assets
“With this capability, lenders can deliver an entirely new level of convenience and efficiency,” Dark Matter Technologies CEO Sean Dugan said in a 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.”
Dark Matter Technologies added the NOVA LOS to its product line-up in 2024 as part of a dual-product strategy alongside the Empower LOS to provide solutions and consultative services for credit unions, IMBs and small to midsize banks.
“By adding flexible, modern eClosing options to NOVA LOS, Dark Matter is putting lenders on a fast track to a fully digital future,” Wolters Kluwer Financial & Corporate Compliance VP of Partnerships Shreya Shankar said. “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 eClosings.”