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Eye on the Industry: Updates on Promotions, Tech, Integrations

 

Gateway First Bank has promoted Jeff Schmidt to a new role of managing its mortgage operations. In his role as Chief Mortgage Operations Officer, Schmidt will manage the underwriting, appraisal, closing/funding, post-closing, and construction lending departments.

Additionally, Schmidt is tasked with the expansion of the Oklahoma-headquartered bank's mortgage call centers based in Dallas and Frisco, Texas. He will report directly to Gateway’s CEO Stephen Curry.

“Jeff brings deep expertise in mortgage banking derived from his 35 years of experience in both mortgage and banking. His knowledge will help us build the robust mortgage operation we need to support our growth goals,” Curry said. “Jeff has had a long track record of success at Gateway, and his promotion was well-deserved. This is a critical role as we implement new mortgage banking technology, streamline our operations and improve our recapture.”

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Austin-based fintech company, FirstClose has announced the release of its SMART Select platform for Title Search Reports and O&E Reports.

SMART Select uses intelligence logic to automatically select the title vendor with the best service, best price, and best turn-time for each financial institution’s unique lending footprint. This new technology chooses from six approved and vetted national title vendors to deliver title search reports.

Giving an overview of the need for this technology for lenders, FirstClose said that in today’s ever-changing mortgage market, lenders are faced with rising cost to originate loans, which is impacting their bottom line. This is especially true when trying to handle vendor due diligence and select the right title vendor for your business. Many factors need to be taken into consideration, such as service levels, pricing, and turn times. FirstClose's SMART Select instantly eliminates lenders’ title vendor selection headaches.

“Think of SMART Select like cellular coverage,” said Corey Smith, Chief Product Officer at FirstClose. “Why choose only one provider when you can have the top six cell phone providers all under one plan? You’d have the best possible coverage everywhere you go. That’s the essence of SMART Select, it delivers the best coverage, pricing, and turn-time for each customer.”

 

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DocMagic, Inc., a provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that INTEGRA Software Systems (INTEGRA) will offer the company’s document preparation solution to their client base via an integration with INTEGRA’s new LOS, EPIC.

Recently, some of INTEGRA’s clients began transitioning from its legacy LOS version, converting to its new multi-browser based LOS, EPIC. New INTEGRA clients have been implementing EPIC, integrated with DocMagic’s solutions, with great success. 

The partnership gives lenders the ability to leverage DocMagic’s end-to-end document production, preparation, delivery and automated compliance service as a fully embedded integration within EPIC. This includes the ability for borrowers to conveniently and compliantly eSign all documents required to meet state and TRID-based disclosures, eliminating paper and optimizing the document process from initial disclosures through closing.

“INTEGRA is a long-time, trusted integration partner of DocMagic and we are pleased that they are introducing our end-to-end document preparation solution to their lenders utilizing the EPIC LOS,” commented Steve Ribultan, Director of Business Development at DocMagic. “In a margin compressed business environment, this is of particular importance as lenders are better able to manage their costs using an all-in-one solution.” 

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.
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