ServiceLink announced enhancements to its EXOS Close technology that company leaders say will provide more flexibility for lenders and borrowers using the technology to schedule their closings in real time.
Enhancements include new options for online and in-branch closings in addition to an in-platform determination of remote closing eligibility, assessing state and county acceptance requirements and, with lender approval, automatically giving borrowers who are eligible the immediate option to schedule their closing online.
“We’re proud to build on the legacy of EXOS Close with these new, easy-to-use enhancements that will further strengthen the lender and borrower experience,” ServiceLink Division President, Origination Services, Dave Steinmetz, said in a release. “With the tap of a finger, users can instantly choose when, where and how they want to close, and lenders can save money by sunsetting antiquated processes used for in-branch closings, where little to no technology previously existed across the market. Our platform even prepares the borrower for the closing type of their choice, with built-in education every step of the way.”
The addition of this in-branch scheduling selection and built-in automated remote online notarization (RON) eligibility determination allows lenders to schedule 100 percent of their closings through EXOS. ServiceLink leaders say they are the only provider that offers the ability for a lender to schedule in-branch closings. This new option will aid with home equity and refinance transactions, increasing efficiency and transparency, according to a release.
Access to the RON eligibility determination also will allow lenders to adopt and scale eSignings and extend the option to their borrowers to self-schedule their own RON closing event.