Reverse mortgage servicer provider Bay Docs, LLC, will now support electronic signatures as part of a new integrated feature into its Reverse Express loan origination system, the company announced Monday.
The new system enhancement will enable reverse mortgage originators to send their application packages directly to potential borrowers via electronic signature companies. Applicants can then review and electronically sign their application package and originators will receive executed packages within minutes, according to Bay Docs.
“Adding special tags to our documents means that an Originator can upload the application package to an electronic service and submit the package to the potential borrower through a few easy key-strokes,” said Bay Docs President Megen Lawler in a written statement.
Aside from the new e-signature function, Reverse Express already has other system features in place that help expedite the processing time, such as integrated services for appraisals, credit reporting, flood certification, title services, among other offerings Bay Docs currently has in the works.
The integration of these various services allows Reverse Express users to order whichever services they need within the platform, rather than requiring them to get their data from another system and then having to manually enter that information into Reverse Express.
Along with the Reverse Express loan origination system, Bay Docs also provides document services to reverse mortgage lenders and brokers, a service the company has been offering for 21 years.
“For the past 21 years Bay Docs has been on top of all the industry changes and has brought that experience and knowledge to their loan origination platform,” Lawler said. “It was just a matter of time before our technology sector would match that of our document services business and we’ve done that now.”
Written by Jason Oliva