DETROIT–Amrock, the nation’s largest title insurance, property valuations and settlement services provider announced the introduction of proprietary technology to electronically close mortgage transactions entirely from a mobile device.
Amrock is a unit of Rocket Companies (NYSE: RKT) and company officials said the new product represents the final step in Rocket’s creation of a seamless real estate experience clients can use to go from application to closing on the iPhone or Android phone they use every day.
Rocket Companies, through its Rocket Mortgage brand, offers a completely digital home loan experience for consumers, including the ability to apply, receive approval and lock their rate for a mortgage from their smart phone. Now, through Amrock’s technology, clients can close on a mortgage by connecting with the closing agent or notary from a mobile device no matter where they may be in the world, completing the historically cumbersome final step in a home loan process from anywhere at any time.
“Our company has always been focused on meeting our clients wherever they may be, but we were limited by the industry’s standards for closing mortgages,” said Nicole Beattie, Amrock CEO. “That was the driving force behind Amrock creating this technology, providing the ability to close mortgages for a spouse traveling for work, a military member serving away from home or countless other real-world scenarios. Rocket Mortgage pioneered getting a mortgage online from a smart phone. Now, Amrock is providing the final piece of the puzzle for a complete mobile mortgage experience.”
Added Rocket Companies CEO Jay Farner: “Our mission at Rocket Companies is to simplify life’s most complex moments so our clients can live their dream, and we’ve delivered yet again on our vision to create a seamless real estate experience by being the first-ever to revolutionize the closing process. In addition to new mobile capabilities, clients can now move from mortgage processing with Rocket Mortgage to closing with Amrock through a single sign-on feature–a seemingly small, yet significant example of how the Rocket Platform removes friction every step of the way for consumers.”
To find out more about mobile mortgage closings, visit www.amrock.com/clearsign.