Plaza Home Mortgage Inc.
has launched a new hybrid eClosing option on all conventional Fannie Mae and Freddie Mac loans. The new option allows settlement agents to coordinate directly with borrowers, and offer them the ability to review their closing documents electronically and execute most of the documents online. Only the Note and Security Instrument documents will require a traditional, wet signature at closing, allowing for a much quicker closing process.
With the new hybrid eClosing option, borrowers will receive their closing package electronically one to two days before the closing date, allowing them more time to review the documents and ask questions before they get to the closing table.
“eClosings are a logical next step on the path to a completely digital mortgage,” said Jeff Leinan, Plaza Home Mortgage’s Executive Vice President, National Wholesale Production. “By offering new, digital solutions our clients will see dramatic improvements in the speed and efficiency of the closing process that will enhance their borrower experience.”