Electronic closings help to distinguish you from your competitors and generate more borrowerer interest in your business. Electronic closings save significant paper and are an integral part of our Nation’s green initiative. Your ability to work electronically opens up many marketing opportunities.

Electronic settlements are simply an extension of your existing LOS. Instead of printing the documents for sig nature, you will be maintaing them in an electronic format.

There are tangible cost savings in utilizing this technology to free your staff from the countless hours of post closing followup required to correct signature errors and resign missing documents. Electronically signed documents are always correct and can’t be missed because every paperless document must be signed in order for the attorney to complete the closing. When paperless documents are signed and submitted electronically they automatically and instantaneously become part of a tamperproof digital loan package which always remains together and in the proper order. Paperless closing documents are immediately transmitted and stored electronically, eliminating the need to double check, proof, copy and ship.

When a transaction utilizes an eNote in lieu of a signed-paper document, the note can be instantaneously sold and transferred. When a loan originator transfers the servicing of a note on the secondary market, or transfers it to Fannie/Freddie, the originator is not paid until the note is physically received by the investor. When using an eNote the investor instantaneously receives the note, significantly accellerating receipt of payment.

Yes. At this time leading proponets of electronic closings are conducting hybrid real estate settlements. The main reason is that many courhouses do not accommodate the recording of electronic closings at this time. Thus, documents that are to be recorded will usually be signed and notarized paper documents. The remaining documents can be paper or electronic at the lender’s discretion.