The Advantages of eClosing (and Why Your Buyers Will Love it)
In today's competitive mortgage market, it pays to be able to offer your clients convenient service options that are both safe and secure. Industry technology has come a long way in the last few years, and eClosing is one of the easiest and most effective tools available today that you can leverage on behalf of your clients.
Here are a few of the benefits that your customers can enjoy:
Saves Time & Money: We always hear the adage "Time is Money." To a potential homebuyer, an online experience represents a substantial savings of both. By being able to manage their documents and disclosures at home, it saves them time from having to take off work or rearrange their schedules. The same is doubly true for closing the loan. With a nice, smooth eClosing, they can get back to what matters most: enjoying their new home.
Reduces Risk: Companies who offer eClosing can help their customers reduce their risk by increasing the accuracy of the process in addition to securing their information in a more comprehensive way. For accuracy, the chance of transcription error, a missed signature, or absent notarization is far lower than normal. Customers can also rest easy knowing that their sensitive personal and financial information can only be accessed by authorized personnel.
Reduces Waste: If all the forms and files are digital, you wind up saving a bunch of paper in the form of documentation, photocopies, and duplication. This might not seem like much in the grand scheme of things, but it can matter a great deal to today's eco-conscious public that may want to watch their carbon footprint. Besides making the whole process more convenient overall, eClosing cleans up the process so loans can proceed with fewer hassles and resources needed to make it work.
An Enhanced Experience: When a potential homebuyer can apply, manage, and close their loan from the comfort of their home using their phone, you have just elevated their customer experience. The mortgage process is still often perceived as being hours spent signing papers or having to provide an endless number of documents and official forms. By streamlining the process, you can create a strong impression of ease and convenience that customers will remember ― both when they review your business online as well as the next time they need mortgage services.
That wraps it up for this time. We hope this information will be useful to you so you can bring a whole new level of service and satisfaction to your customers. Thanks for reading, and we'll see you next time.
Disclaimer: FOR BROKER-DEALER OR AGENT USE ONLY —May not be distributed, reprinted or shown to the public in oral, written or electronic form as sales material to the general public.