Equity National Title
has unveiled its “e-closing” hub for mortgage lenders, dubbed e-Ways
, designed to advise of the types of digital closings available at a zip code level.
“Although the promise of the digital mortgage closing is powerful, the reality is that we’re confronting a lot of complexity in what can and cannot be achieved state by state and county by county,” said James K. O’Donnell Esq.; President of Equity National Title. “Some counties may allow for some levels of e-signing but they may not allow a full e-closing. Other counties may not be aligned with state directives when it comes to remote notarization, or they might require the parties to make use of only one specific e-provider. Still other counties won’t accept an e-notarized deed. For lenders wanting to execute an e-closing strategy, especially over a wider geographic footprint especially, it can be dizzying. That’s why we designed e-Ways. It simplifies their decision-making.”
will advise users whether the key authorities in each zip code accept none, all or some combination of the four existing types of closing: Fully digital; hybrid; remote notary or traditional.
“The risks, costs and confusion associated with trying to decipher e-capable markets have lenders seeking a better way,” said O’Donnell. “Equity National Title is delighted to provide this service. Our ability to close loans in all 50 states coupled with e-Ways can help lenders e-close nationwide.