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Eye on the Industry: Updates on Carrington, DocMagic, and More

From new leadership announcements and acquisitions to new technology and products catch the latest buzz in mortgage lending in this weekly update.

Aliso Viejo, California-based Carrington Holding Company announced that it is expanding the leadership team of the Carrington Retail Group (CRG), the company’s direct-to-consumer division that integrates real estate, lending, and title services to provide an extraordinary customer experience. CRG has hired industry veteran John Nicholas as its Chief Technology Officer. Nicholas was most recently SVP of Product at online real estate marketplace Ten-X. Previously, he was founder and CEO of Channel Software, which was acquired by Ten-X subsidiary Auction.com in 2015. The company also announced two promotions within the consumer retail group. Ryan Dranginis, formerly VP of Business Technology, was named Head of Marketing. Dranginis has been with Carrington for three years working on the development of the company’s platform that connects real estate, lending, and title services for consumers and agents. Christopher Gordon, formerly VP of Business Operations and Strategy, was named Head of Operations. Gordon joined the company in 2012 and has held a variety of roles throughout The Carrington Companies.

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DocMagic, Inc., a California-based provider of fully-compliant loan document preparation, regulatory compliance, and comprehensive eMortgage services, announced that retail mortgage lender Guaranteed Rate can now cut closing time by electronically signing mortgage closing documents in advance. Guaranteed Rate has branded the solution FlashClose, which allows customers to opt-in, review, and complete most documents in advance of the notary arriving, saving an hour or more at the closing tablewith some averaging a mere 10-minute appointment to provide inked signatures. “Guaranteed Rate is always looking for ways to simplify the process using innovative technology to enhance the customer experience,” says Jim Hettinger, EVP of Operations for Guaranteed Rate. “With the successful launch of FlashClose, powered through our partner DocMagic, this tool adds speed, convenience, and accuracy to the closing process.”

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Ellie Mae, the California-headquartered cloud-based platform provider for the mortgage finance industry announced that two new suites of applications are available via Ellie Mae’s Encompass true digital mortgage solution platform - Encompass Data Connect and Encompass Investor Connect. Encompass Data Connect is designed to help mortgage lenders make smarter decisions faster using real-time data and is available to all lenders using the Encompass NG Lending Platform. Specifically, Data Connect gives lenders streamlined data access, enhanced security through encryption of personally identifiable information, and faster, smarter decision-making with near real-time access to their loan data. Encompass Investor Connect establishes secure system-to-system workflows between lenders and correspondent investors, ensuring the delivery of accurate, compliant, and tamper-proofed loan data and docs. Ellie Mae currently has partnerships with correspondent investors including, Caliber Home LoansFlagstar BankPacific Union Financial, and Wells Fargo for the Encompass Investor Connect Solution.

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Texas-based Ebby Halliday Real Estate Inc. announced that it is being acquired by HomeServices of America Inc. Financial terms of the deal were not disclosed. "The acquisition will include Ebby’s three real estate brands: Dallas-based Ebby Halliday, REALTORS and Dave Perry-Miller Real Estate and Fort Worth-based Williams Trew Real Estate, as well as the firm’s affiliated mortgage and title companies," according to a statement. "The Ebby Halliday portfolio of companies brands will continue to operate under their current brand names." Born in Arkansas in 1911, Halliday moved to Dallas in 1938 and eventually opened her own real estate firm in 1945, becoming a Dallas icon during the course of her decades-long career. Halliday passed away in 2015 at the age of 104. Ebby Halliday, REALTORS participated in more than 18,800 transactions in 2017, with a sales volume of more than $8 billion. The firm ranks 12th in the nation in sales volume. Minnesota-based HomeServices of America is the country’s second-largest residential real estate brokerage company and, through its operating companies, is one of the largest providers of integrated real estate services.

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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