A new tool from WFG Enterprise Solutions aims to give mortgage lenders and closers instant insight into the history and status of every loan in their pipeline, along with the steps remaining to get to the closing table.
WFG’s MyHome Funder Dashboard minimizes the back-and-forth that often ensues when balancing files for disbursement, providing a balance figure that includes fees that escrow agents anticipate the lender will keep from the funding wire.
“Repeated requests and delayed responses threaten a secure, on-time closing,” Dan Bailey, senior vice president of WFG Enterprise Solutions and WFG Lender Services, said in a statement. “The first, best way to avoid this is to make sure everyone is on the same page, which is exactly what MyHome Funder Dashboard does.”
My Home Funder Dashboard facilitates direct communication with the escrow officer for each loan, and also provides the notary name, location and signing time, recording information, along with access to the executed loan package and conditions right after the borrower signs.
The tool also gives participants advance approval of recording and disbursement based upon a review of the funding package and balance amounts, and supports multiple funders who receive their own logins.
WFG Enterprise Solutions and WFG Lender Services are part of the Williston Financial Group family of companies (WFG). WFG operates three business divisions — company-owned direct title operations, agency operations, and enterprise solutions.
- WFG National Title Insurance Company is a title insurance underwriter licensed in 49 states.
- WFG Lenders Services is a centralized provider of title, closing and settlement services for mortgage lenders nationwide.
- WFG Enterprise Solutions includes WFG Lender Services and Valutrust Solutions, WFG’s national appraisal management and valuation service company. WFG NTIC Default Title Services, WFG’s trustee gale guarantee and default title services division, is also part of WFG Enterprise Solutions.
WFG says the MyHome Funder Dashboard builds on the success it’s had with WFG National Title Insurance’s MyHome portal and mobile app, which coordinates the roles of all parties involved in residential real estate transactions.
Other tools developed by WFG to increase collaboration and transparency include DecisionPoint, a title status decision engine that determines title clearance timelines after analyzing property encumbrances and applicant circumstances, and MyHome Exchange, which is aimed at reducing application-to-close turn-times.