The mortgage industry has not been the same since eSignatures were introduced. The process of a closing is much smoother and faster with esignatures. There are many reasons esignatures create efficiency in the closing process, but banks have found that esignatures are best used for their customers to sign loan documents electronically without having to print or scan them first. This blog post will discuss how esignatures can improve your mortgage closing rate and your bottom line.
Esignatures have changed the way banks conduct business
When it comes to the mortgage industry, esignatures are now used to close mortgages in a faster and more efficient way than ever before. Homes go through many different stages of closing, and a signature is required on every piece of paper work. Esignatures are most often used for signing documents electronically without having to print or scan them first, which saves time as well as money They have also made bank interactions more efficient because they can be used for any document the customer needs, rather than having them come into a branch or call in - esignatures are available 24/hours a day and are much faster when it comes to closing mortgages.
Going Paperless
Esignatures are a paperless, digital and secure option for closing mortgage loans that is endorsed by the banking industry. They have become the norm for banks and lenders to use in closing mortgages with customers. This paperless option reduces the time spent on paperwork, as well as scanning and printing documents - it saves hours of work per day from an employee's time. One of the biggest benefits is that esignatures are easy to store because you can access them from any device with an internet connection, and the documents can be stored in a secure cloud server. Esignatures also provide security for banks because they cannot be lost or destroyed like paper documents - esigning is irrevocable once it's done.
Esignatures allow banks to improve customer experience
With esigning the documents - customers are able to complete their closing process while they're at work or from home, and esignatures allow banks to save on paper. Esignatures provide more security and can reduce the amount of time required to finish a mortgage. A quicker, more seamless close usually equals a happier customer.
Esignatures save time, money and provide security for banks. Today, esigning is an important tool in the mortgage closing process because it helps make mortgages faster to close which leads to happier customers. This digital revolution has changed the way banks conduct business by allowing them to reduce paper signatures by 80% while also improving customer experience through a more seamless closing process.
