Company upgrades borrower portal to "improve borrowers' lives and increase their satisfaction"
Reverse mortgage subservicer Celink has added a new option that allows senior borrowers to sign their annual occupancy certificates online, offering a faster and more secure alternative to the mail-based process.
In its release, Celink explained that its Borrower Portal notifies eligible reverse mortgage borrowers who are due for occupancy certification that they can perform the entire process electronically. The enhancement is compliant with the E-Sign Act and HUD’s Mortgagee Letter 2014-03.
“Many senior borrowers are used to the convenience of managing their financial accounts online. We have built the portal to deliver real-time access to important information about their loans,” Celink CEO Marion McDougall said. “With the portal, we also improved the security of communication. Our technology investments aim to improve borrowers’ lives and increase their satisfaction.”
The company claims that over 1,500 senior borrowers have already used the new feature and that it continues to see the rate of participation grow daily. The average age of the users is 74 years old, with the oldest borrower electronically signing an occupancy certificate being over 100 years old.
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In addition to the E-Sign functionality, senior borrowers can also request line of credit advances, view and download loan statements, receive payoff quotes on active loans, and upload necessary documents through Celink’s borrower portal.
