eClose: How to Choose the Right eClose Solution
In our rapidly evolving mortgage industry, eClosings are becoming increasingly popular due to their ability to provide a seamless, efficient and cost-effective solution for lenders, settlement agents and borrowers. In nCino’s recent white paper, we dive deep into the concept of eClosings, their benefits and how to best select an eClose solution.
Digital Transformation: How eClosing is Shaping the Mortgage IndustryThe days of lengthy, paper-based mortgage closings are giving way to the digital age. More and more, we’re seeing a shift towards digital closings, which are rightfully earning a reputation as the “gold standard” in the mortgage industry.
Why are borrowers and lenders flocking towards this technology-driven solution? Their simplicity, efficiency and the capacity to meet evolving consumer demands are key benefits for lenders, while borrowers are particularly charmed by quicker closings and the convenience of a completely digital mortgage experience.
Beyond their appeal to borrowers, eClose solutions yield remarkable benefits for lenders and settlement agents. From a cost perspective, significant savings per loan are realized when leveraging this digital space. The reduction of human error, improved loan quality and reduced processing/funding cycles make eClosings all the more lucrative for these stakeholders.