The Age of E-signs is Upon Us!
For many years, Lenders have used thousands of pounds of paper each week just to get borrowers the refinance they need. But, today is a new day! With technology and the peripheral systems to work with them advancing so quickly, lenders have been able to shift the way of the mortgage to e-signing loan documents. There are many advantages to e-signing, from speeding up the process to layering security to ensure nothing happens with sensitive information.
One of the key benefits for clients is that it gives borrowers access to do what they need whenever they want! When clients are e-signing documents to start the mortgage process, it is simply reading to keep them informed and clicking a button to confirm s signature! Once clients have read all the documents and hit finish, their personal Loan Advisor has full access to those documents immediately! With the new TRID law underway, there are specific waiting guidelines before closing. The world of e-signatures helps lenders track the moment borrowers hit that sign button so no time is ever lost!
The most important benefit for clients is the layered security and minimal risk associated with the e-signing portal. Users of the portal create a personal account to access all of the documents. To gain access, clients simply enter in an authorization code OR answer a security question! No one will ever see anything they don’t need to! All accounts are set up to specifically send documents back to THEIR loan and their loan only.
Electronic Mortgage Documents are intimidating to some and heavily welcomed by others. Keep in mind when moving forward on a loan, that this was custom made for borrowers. It is here to help make this process easier and faster, ensure clients are fully informed before making any decisions, and that all information is layered with security. Now get out there and refinance on your own time!
Written by: Royal United Blog Team