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eClosing
Enhances your paper-based closing processes while migrating to an eMortgage
strategy by providing transaction management, efficient online document sharing,
electronic signature option, and secure electronic storage of documents within
one collaborative system. This service facilitates seamless coordination between
lenders, closing agents, borrowers, sellers, and signing agents via the web.
Executive Summary:
Streamline your closing scheduling process with online ordering, confirmation, and data updates
Reduce your costs with more efficient closing document distribution, tracking, and version control among all closing parties
Enhance the borrower’s experience by private labeling their access to closing information, closing documents, and explanatory document descriptions
eClosing In-depth:
This service improves your paper-based closing processes by facilitating
electronic scheduling of the closing and electronic sharing of the documents
with all closing parties. It also positions you for electronic mortgages by
supporting electronic signatures on closing documents.
Once the lender approves the loan documents for viewing, automatic emails are
generated to the closing parties, including the closing agent, signing agent,
borrowers, and property sellers. The email notifies the recipient that documents
are available for review. When the documents are electronically signed,
automatic email notification to the lender simplifies the post closing process.
The electronic signature process includes identity verification, capture of
ESIGN consent, support for electronic notarization, and a detailed audit trail
of document and signing activity for non-repudiation. Each document is tamper
sealed for future document integrity checks. The signing process also includes
the option to print out individual documents for ink signature as needed.
Reduce post-closing errors by eliminating missed or undersigned signatures on documents with electronic signatures.
Eliminate waiting for the return of signed documents and instantly fund loans in escrow states by using electronic signatures on closing documents.
Use eDelivery to give your borrowers access to both upfront and closing documents with the same User ID and password
KnowledgeBank
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