FFIEC News

ServiceLink Web-based Closing Expands Capabilities with FamilyView

(Oct 21, 2008)-- ServiceLink, provider of origination and default services and the national mortgage services platform of Fidelity National Financial, offers lenders an expedient Web-based closing option for customers. iClose is a secure and convenient method for borrowers to close their loans in an online virtual meeting room. Borrowers can easily schedule a date and time that is convenient, and a ServiceLink closing agent guides them through their paperwork, using an online interface making the closing process faster and less cumbersome.

"With iClose, lenders are able to offer borrowers the ability to schedule their closing any time, anywhere," according to Kevin Gugenheim, executive vice president and chief strategy officer. "Customers will appreciate a product that is more convenient and helps them better understand their loan documents during the closing process."

Recent enhancements to the product include the ability to have third parties at different locations participate in the closing. This feature, on the advanced iClose platform, is called FamilyView and allows up to five approved participants to take part in the closing.Fraud mitigation is also an added benefit to lenders using iClose. Potential fraud is identified prior to closing through an authentication process which complies with Graham-Leach-Bliley and FFIEC requirements. iClose requires a borrower to authenticate their identity prior to joining the closing session. Borrowers sign only one document, a Limited Power of Attorney that is notarized and returned to ServiceLink at no cost. The rest of the process is entirely online and the entire transaction and phone conversation is recorded and archived to ensure the security and authentication of the transaction.

iClose is currently being used by select lenders nationwide. For more information, visit the ServiceLink Web site at www.servicelink.iclosefnf.com.

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