CONCORD, CA, April 10, 2017: CONCORD, CA. (2017) – Land Home Financial Services, Inc. (Land Home) joined a select group of private mid-market mortgage lenders when it officially announced its first eClosing via their Retail origination channel. This initiative was accomplished in collaboration with MERSCORP Holding, Inc. (MERS) and Fannie Mae.
“Offering eClosing has long been a goal at Land Home as it unifies the needs and desires of our clients with the regulatory ambition of the Consumer Financial Protection Bureau (CFPB),” Land Home’s President/CEO Brad Waite said.
Land Home has been working toward a compliant, next generation digital mortgage solution since early 2016 because consumer needs and expectations in most markets are shifting as more Millennials enter the housing market. Land Home’s investment in innovation is the only way forward to meet future demands and secure a competitive advantage with a superior closing process.
“This is just one of many steps we are taking to improve the customer experience and drive efficient, on-time closings to support our community-based branches and real estate partners across the nation,” said Brenda Usher, Land Home’s COO.
Land Home worked with PeirsonPatterson LLP, a Dallas based financial services compliance and technology firm; FirstFunding, Inc., a Dallas based privately held non-depository (non-bank) financial services company; and Placer Title Company/National Closing Solutions to process, update and secure its first eClose.
“Fannie Mae is committed to supporting our customers and their business partners in making the transition to digital mortgage closings. The demand for speed and certainty coupled with an increased focus on compliance is fueling an increasing demand for digital eMortgages. We are eager to continue support of our customers like Land Home in driving their business forward with innovative mortgage solutions,” says Michael Cafferky, Product Development Manager, Fannie Mae.
The MERS® eRegistry is the system of record that identifies who is in control of the eNote.
“The model Land Home Financial Services and First Funding are using to register eNotes on the MERS® eRegistry is a truly collaborative effort,” said Katie Paolangeli, Vice President, eCommerce & Industry Initiatives with MERSCORP Holdings. “FirstFunding does the registrations on Land Home’s behalf, which is a model we believe could work well for many other companies and their trading partners. This was an integration effort that really came together to create value for all parties.”
Land Home Financial Services, Inc. (Land Home) is a privately owned, nationwide, community focused mortgage lender providing quality mortgage services since 1988. Committed to delivering a superior mortgage experience to their customer, Land Home has embraced a relationship-centric lending model with over 80 branch office locations across the nation. Headquartered in Concord, CA, Land Home has been recognized both nationally and locally as the company continues its expansion into local communities throughout the U.S. For more information visit LHFS.com, call 800-672-9470, or follow @LHF_Loans.
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