SimpleNexus Adds Hybrid eClosings For Lenders And Borrowers To Ellie Mae Integration

"A lender’s need for simple, effective eClosing solutions has never been greater," said SimpleNexus CEO Matt Hansen. "By shrinking the gap between loan funding and shipping, lenders can save money by reducing their dwell time on warehouse lines of credit. Additionally, borrowers now have one single portal from home search to home closing.”

"This partnership is a key step in expanding our ability to provide our lender customers with easy access to digitally closing loans quickly and safely," said Ellie Mae vice president of Business Development, Bob Hart."

SimpleNexus eClosing allows lenders to conduct hybrid closings for purchase and refinance loans, according to a press release. In a hybrid eClosing, borrowers are able to electronically sign home loan documents that do not require notarization before meeting with a settlement agent or notary to finalize the closing. SimpleNexus reported closing appointments are reduced to only a few minutes as relatively few documents require in-person signatures.