A federal agency has chosen 12 firms to participate in a pilot program the agency hopes will yield insights on how to use technology to make the mortgage process easier, cheaper and less time-consuming for borrowers.
The Consumer Financial Protection Bureau announced the e-closings pilot in April. The 12 firms selected to participate in the program include five vendors:
- Accenture Mortgage Cadence
- DocMagic
- eLynx
- Pavaso
- PiersonPatterson
The lenders selected are:
- Blanco National Bank
- Boeing Employees Credit Union
- Franklin First Financial
- Flagstar Bank
- Mountain America Credit Union
- Sierra Pacific Mortgage
- Universal American Mortgage Company
Source: housingwire.com
