The Digital Mortgage lifecycle leverages technology starting with lead generation all the way to servicing. The benefits of a Digital Mortgage include speed, transparency, convenience, and security. These benefits accrue to both lenders and borrowers and help to drive down origination costs. ABA Endorsed Solutions providers, listed under each process flow step, have been vetted by bankers and ABA staff and offer ABA members many products and services to support the transition to a digital mortgage process flow.
1. INDUSTRY INFORMATION
Endorsed Solutions: Fannie Mae, Farmer Mac
2. ORIGINATION
Endorsed Solutions: Finastra, Arch MI, ComplianceEase, Built, Fannie Mae, Farmer Mac, Stearns Lending, Promontory Fulfillment Services
3. PROCESSING
Endorsed Solutions: Arch MI, Built, ComplianceEase, Fannie Mae, Farmer Mac, Finastra, Promontory Fulfillment Services
4. UNDERWRITING
Endorsed Solutions: AmeriHome, Fannie Mae, Farmer Mac, Promontory Fulfillment Services
5. CLOSING
Endorsed Solutions: Promontory Fulfillment Services
6. POST CLOSING AND SHIPPING
Endorsed Solutions: Farmer Mac, Promontory Fulfillment Services
7. SECONDARY MARKET SALES
Endorsed Solutions: ABA Community Bank Mortgage, LLC, AmeriHome, Farmer Mac, Fannie Mae, Stearns Lending
8. SERVICING
Endorsed Solutions: Farmer Mac, Midwest Loan Services
Did you know that ABA can help your bank develop and implement a digital mortgage process? Your bank can implement a digital process one step at a time, based on your specific business needs. The benefits of a digital process accrue to both lenders and borrowers, helping to drive down origination costs and build business.
TRADITIONAL PROCESS
VS.
DIGITAL PROCESS
ABA is here to help your bank get started! Visit aba.com/Endorsed.