Skip to main content

UWM Offers First Virtual E-Closing
Aug 09, 2017
After airing in numerous markets nationally, had in excess of 75,000 site visitors in the first 48 hours

United Wholesale Mortgage (UWM) has introduced the nation’s first virtual e-closing experience, where borrowers can complete a full mortgage transaction without ever leaving their home or wet signing a single document.
To make online closings available to borrowers across the country, UWM partnered with Arlington, Va.-based Notarize, the nation’s first digital platform for legally notarizing documents online.
“This is a revolutionary time for borrowers and independent mortgage brokers, as we’re taking convenience in the mortgage process to a completely new level,” said Mat Ishbia, President and Chief Executive Officer of UWM. “The days of being bombarded with reams of paper at the closing table are over. Giving borrowers the ability to close a loan whenever they want, whether it’s at 11:00 a.m. or 9:00 p.m., will have an incredible impact on the entire experience. Independent mortgage brokers will have an even stronger competitive advantage over retail competitors and large banks.”
Whereas previous versions of e-closings still required some in-person contact with a notary to e-sign closing documents via a shared tablet, UWM’s remote e-closing technology eliminates that step. A borrower can be anywhere that has Wi-Fi access–their home, a coffee shop, etc.–and use a computer or mobile app to “FaceTime” with a notary to actually complete the closing live, right there. The process allows for all documents to be signed, including the promissory note and mortgage.
Currently, UWM’s virtual e-closing technology is available to brokers in four states (Illinois, Montana, Virginia and Washington), and will be expanding its reach throughout the rest of this year. The only thing holding back all of the states from being approved is legislative rules around notarizing documents, as each state has varying legislative requirements. Currently, this new way of closings mortgages pertains to refinance loans and is limited to mortgages that have a maximum of two borrowers.
UWM’s historical first virtual e-closing was completed on July 28 with borrowers in Chicago.
The remote e-closing platform is the next wave of technology that UWM has brought to market to help its network of independent mortgage brokers compete with large banks and mega retail lenders. It follows the March release of Blink, an all-digital, multi-functional loan portal that allows consumers and mortgage brokers to start the loan application process from their mobile device, pull their credit, e-sign documents, verify assets, and track the status of their loans from anywhere.


Aug 09, 2017
More from
Liquid Mortgage Technology Supports Efficient Debt Market

Liquid Mortgage received a U.S. patent for its distributed ledger technology to support its future vision of efficient and transparent debt markets.

Jul 22, 2021
Rocket Expands Home Search Tool To All 50 States

Rocket Homes announced its growing home search tool now includes listings from all 50 states.

Jul 21, 2021
Better's One-Click Checkout Now Offers Title Insurance For Refi's

Better announced it has been licensed as a title insurance provider for refinance transactions through Better Settlement Services (BSS) in Virginia. 

Jul 20, 2021
Fairway Independent Mortgage Uses Doma To Improve Refinance Business

Doma Intelligence platform will remove key points of friction and frustration that affect traditional mortgage closings.

Jul 16, 2021
Total Expert For Salesforce Improves Customer Engagement

Total Expert announced their integration with Salesforce to enable marketing and customer engagement on behalf of advisors, loan officers, and personal bankers. 

Jul 15, 2021
Lendsmart Integrates With Freddie Mac To Digitize Underwriting

Lendsmart’s platform unifies all the parties involved and reduces operational costs.

Jul 14, 2021