Compliance Solutions’ General Manager and Head of Sales for eOriginal to provide commentary on e-closings, remote online notarization, and other digital technologies
SAN DIEGO–(BUSINESS WIRE)–Wolters Kluwer Compliance Solutions Executive Vice President and General Manager Steve Meirink and Tom Hurst, Head of Sales for Wolters Kluwer eOriginal, will offer insights on the accelerating pace and benefits of digital technology that lenders are incorporating into their everyday practices at the 2021 Mortgage Bankers Association Annual Convention. The event takes place between Oct. 17th and 20th at the San Diego Convention Center.
“The increasing adoption of technologies to facilitate secure, streamlined and contactless online mortgage transactions we’ve seen over the past several years has accelerated exponentially during the Covid pandemic, and this meteoric trajectory promises to continue as mortgage lending institutions experience the benefits that greater transaction speed, accuracy and transparency of financial technologies are bringing to their businesses, much to the delight of their customers,” said Meirink.
Meirink also noted that digital mortgage transactions managed by Wolters Kluwer technology have grown significantly in the past year, jumping 141 percent compared to the previous 12 months (for period ending July 30, 2021).
“We’ve seen the growing demand for secure, streamlined and contactless mortgage closings not only as a response to social distancing requirements but to lenders’ increasing realization of the cost savings benefits driven by eClosing technology,” Meirink added. “Our proprietary research shows that eClosing technology can save independent mortgage originators up to 90 percent of the interest costs for warehouse capital, just one of many benefits in digitizing mortgage closings.”
Another technology experiencing rapid uptake, Remote Online Notarization (RON), is further facilitating lender adoption of mortgage e-closing transactions.
“RON technology has moved from a ‘nice to have’ to an essential component for lenders, as it assures a truly remote online experience for completing online mortgage transactions,” noted Hurst. “However, as no single RON tool covers all mortgage closing scenarios, we offer a technology platform that lets lenders select and activate the best-fit RON solutions to complement their mortgage product portfolio.”
The MBA conference marks the first major event in which eOriginal and Wolters Kluwer have co-presented their combined capabilities since Wolters Kluwer acquired eOriginal in late 2020.
“Wolters Kluwer and eOriginal have come together to create the industry’s most trusted end-to-end digital mortgage technology to simplify and accelerate digital mortgage lending,” said Meirink, explaining that the combined entities’ digitization strategy is built on open technologies and an ecosystem of trusted partners, providing institutions and borrowers with maximum choice. For example, the RON Hub built into the eOriginal ClosingCenter enables mortgage lenders and settlement agents to select the best-in-class remote online notarization (RON) partner solution that meets their unique needs.
Wolters Kluwer eOriginal technology has helped advance other capabilities in the lending space, including its work with Ginnie Mae in late 2020 to enable the securitization of mortgage-backed securities for the first time using eNotes, rather than paper notes, as acceptable collateral. The increasing adoption of eNotes opens the doors for broader digital mortgage adoption by an array of mortgage lending institutions that issue loan products that are insured by Ginnie Mae and others.
Steve Meirink, Tom Hurst and other Wolters Kluwer experts will be available to speak with MBA attendees during portions of the conference in conjunction with the Wolters Kluwer exhibit booth #507. Learn more.
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. insurers, banks and credit unions, and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.
Wolters Kluwer’s GRC division provides an array of expert solutions to help financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions’ eOriginal® suite of purpose-built, digital lending solutions, for example, helps lenders digitize their transactions and features electronic signatures, collateral authentication and an electronic vault. Compliance Solutions’ OneSumX® for Regulatory Change Management tracks regulatory changes and organizes them to create structured, value-added content through a single data feed that is paired with an easy-to-use software solution. Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), meanwhile, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. The division’s legal solutions business are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2020 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,200 people worldwide.
Global Corporate Communications Director
Governance, Risk & Compliance Division
Office +44 20 3197 6586
Corporate Communications Manager, Banking & Regulatory Compliance
Governance, Risk & Compliance Division
Tel: +1 612-852-7966
On Twitter: @davidafeider
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