Ready to start planning your successful eClose strategy? Here’s how.
Why an eClose strategy is the next best step for the modern mortgage lender.
In today’s mortgage landscape, lenders are dealing with a lot of uncertainty, unprecedented levels of demand and a strong desire to stay competitive. Combine all of this with the hurdle of remote working during a global pandemic and it’s no wonder lenders are turning to digital mortgage solutions at record speed.
Closing loans quickly, securely and efficiently is paramount in today’s rapidly evolving world. Developing a successful eClose strategy can help you gain operational efficiencies, guarantee a better borrower experience and put you one step ahead of the pack. Here’s how.
Adopting eClose: Key factors to consider
Though eClosing can certainly add speed and security to the lending experience, implementing a successful strategy is far from a standardized approach and can feel complex. To determine the next step in your eClose journey, it’s important to consider how eClosing fits in with your business model, your unique workflows, and the impact it will have on internal stakeholders and borrowers.
Remember, familiar processes will be updated, and lenders will need to evaluate their local eRecording policies, in addition to their investors’ ability to accept eSigned documents. However, the growing pains in the beginning could lead to a significant return on investment in the future. By considering eClosing, lenders can conveniently accelerate the time to close and guarantee a high-touch experience.
Let’s break things down further and discuss 4 reasons why implementing an eClose strategy can set you up for success:
1. Improve borrow experience and satisfaction: With an eClosing solution, you can achieve maximum transparency and meet borrower expectations by ensuring a smooth digital mortgage experience with real-time status updates, wherever you are.
2. Achieve a faster time-to-close: Turn manual, time-intensive processes into a streamlined, automated experience to accomplish an efficient, faster rate to close, without additional burden.
3. Streamline your process and empower your workforce: With eClosing, you can improve quality control, leave a better audit trail, and reduce the number of physical documents to sign at the closing table.
4. Drive more business: Gain the competitive edge by giving borrowers what they want: a modern digital environment that leads to a fast closing experience, with consistent communication along the way.
Ready for more insider tips on how to create a successful eClose strategy?
Watch the webinar replay "Look before your leap into eClose" to hear from leading industry experts on where the mortgage industry is today and where it's headed.