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CUMAnet Selects Simplifile Collaboration and Post Closing Services
press release, Simplifile
   

Simplifile, a leading provider of real estate document collaboration and recording technologies for lenders, settlement agents, and counties, announced that CUMAnet has begun using Simplifile Collaboration and Post Closing services to provide credit union clients with a centralized platform that facilitates the effortless exchange of information with settlement partners. CUMAnet intends to expand usage to facilitate electronic document recording for mortgage satisfactions.

“Because CUMAnet is an end-to-end mortgage shop, including servicing, we have been aggressively working to digitize our operations from origination through post-production,” said CUMAnet CEO Scott Moriarty. “Partnering with Simplifile has been congruous with that strategy and the effort to eliminate errors, reduce stare and compare data entry issues, enhance communications, improve borrower experience and be more efficient while lowering expenses.”

Simplifile Collaboration and Post Closing services enable lenders to securely share, collaborate, track, and audit data and documents from the initial loan application down the pipeline to title delivery. The system updates all file and loan status changes in real time, instantly notifying lenders and settlement agents. As a result, lenders enjoy full transparency in the settlement process, confidence in compliance, and faster mortgage closings.

“Simplifile Collaboration and Post Closing eliminate the back-and-forth between our closers and settlement agents,” Moriarty added. “Now all status updates, communications, and transactions are housed in a central location. We don't have to worry about tracking down trailing documents. Everything is in one spot, and it's very streamlined.”

“As mortgage lenders seek to implement digital mortgage strategies, it becomes increasingly apparent that a true collaboration solution can help ease the friction that can occur between lenders and their settlement partners,” said Simplifile President Paul Clifford. “With Simplifile Collaboration and Post Closing, lenders are able to create a digital connection point into their settlement partners that ensures the smooth exchange of data and documents in real time and ultimately closes the loop on the real estate transaction by electronically returning the final recorded loan documents, final fee information, and the final title policy.”

About CUMAnet

CUMAnet, LLC is a mortgage asset management company dedicated to providing technology solutions, workflow optimization, loan fulfillment, secondary marketing and loan servicing to credit unions and community lenders. The CUSO is owned by Affinity Federal Credit Union, Greater Alliance Federal Credit Union, New Jersey Community Capital and The Credit Union of New Jersey. To learn more about how CUMAnet can help transform your organization please contact Paula Atkinson, 908-860-7162 or visit http://www.cumanet.com.

About Simplifile

Simplifile, the nation’s largest e-recording network, was founded in 2000 to connect settlement agents and county recorders via its e-recording service. Today Simplifile has broadened its services to include collaboration tools and post-closing visibility for mortgage lenders and settlement agents working together on real estate documents. Through Simplifile, users can securely record, share, and track documents, data, and fees with ease.

To learn more, visit https://simplifile.com or call 800.460.5657.



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