The companies join forces to digitize more and more of the home loan process
It has been a banner year for eClosings thanks to COVID-19, and home lending giant Rocket Mortgage and its sister company Amrock said they have gone all-in on raising the bar for digital closings.
In recent months, the companies worked hard to more than double the number of eClosings they delivered in all of 2019. This resulted in Rocket and Amrock completing 90% of all digital closings with eNotes through the first three quarters of 2020, according to data from the Mortgage Electronic Registration System (MERS) eRegistry.
“Rocket Companies is dedicated to using technology to simplify our clients’ financial experiences. Just as Rocket Mortgage digitized and revolutionized the application, processing and underwriting of the home loan, our mission is to end the mortgage experience in the same way,” said Brian Woodring, chief information officer of Rocket Mortgage. “A digital closing is more secure, streamlined – and faster – but in a pandemic, it also means there can be more social distancing, and clients can stay safe while achieving their financial goals.”
Rocket Mortgage and Amrock started working together in July to pioneer the first-ever remote online notarization (RON) in North Carolina. The firms use the proprietary Clear Sign platform from Rocket Companies subsidiary Nexsys Technologies, among others, to complete RON closings.
“Amrock is focused on providing our signing agent and mortgage lender partners with the best process for the clients they serve. That means using technology to make the mortgage closing safer, more secure, more accurate and easier for everyone involved,” said Amrock CEO Brian Hughes. “We have gone all-in on digital closings, and we are glad to see clients benefitting from our technology for a better closing experience. We will continue to promote the expansion of digital closings nationwide, and we look forward to digitizing more and more of the home loan process.”
