In response to the COVID-19 pandemic and the ensuing economic downturn, mortgage companies have been seeking ways to reduce costs and speed up transactions. One solution that has been gaining traction is the use of automation.

Agile Executes, a provider of mortgage automation technology, has announced the completion of the first fully automated mortgage transaction. The deal was completed using the company’s Automated Offer to Transfer (AOT) technology, which handles all aspects of the transaction, from initial offer to final closing.

According to Agile, the AOT technology can reduce the time it takes to complete a mortgage transaction by up to 60%. The company plans to roll out the technology to its other clients in the coming months.

If successful, the use of automation in the mortgage industry could help speed up the process of approving and funding loans, making it easier for borrowers to get the financing they need.

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