CA - Bank of Montreal digitizes residential mortgage refi to expedite U.S. homebuying process

• In an effort to expedite the homebuying process for customers in the U.S., Bank of Montreal ( NYSE: BMO ) said Tuesday it has fully digitized residential mortgage refinancing in partnership with Blend's Close technology .
• Simply put, U.S. customers can now refi a home online without being subject to any in-person requirements.
• By leveraging digital mortgage technology provider Blend's mortgage eNotes capabilities and its Close product, borrowers have the ability to review and sign closing documents remotely, with the option for loan officers to follow along and provide guidance in real time.
• The move comes as digital applications by BMO customers have surged over the last two years, with 75% of U.S. customers currently using its remote online notarization capabilities versus roughly 25% before the 2020 pandemic.
• BMO drifted down 0.6% in late morning trading.
• Earlier, BMO received regulatory approval to acquire Bank of the West.

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