eClosing

Save $250 per loan and sell to investors in as little as 48 hours. Electronic loans automatically handle closing, funding, and shipping.

eClosing from Encomia manages the online signing and delivery of loan closing packages. The process is quick and easy, because borrowers review documents online in advance. You set the workflow for the transaction – choose self-guided eSign or require the help of a closing agent (“orchestrated” signing). Documents are given tamper-evident seals, ensuring the authenticity of the original asset.

In addition, eClosing streamlines your processes. You can automate the post-closing audit process, upload trailing documents to the package and deliver the assets to your investors electronically.

You can get eSignature ready with your current IT infrastructure. Just use the Encomia Print2SMARTDoc virtual printer to create and upload eSign-ready XML closing documents to the eSign server. The completed loan documents are delivered to you electronically after signing. eClosing also integrates with your existing imaging solutions.

 Benefits:
  • Error-free closings – Through automation and borrower review, you prevent document errors at closing.
  • Maximize time - Borrowers can begin the signing process online and spend as little as 15 minutes on the closing process.
  • Streamline audits - Encomia automates post-closin audits.
  • Choose your adoption path - Encomia's loan closing solution supports hybrid paper and electronic document closings for instances in which downstream processes require paper.
Features:
  • Borrower ID Validation – Borrowers answer questions that only they could know.
  • eSign Opt-in – eClosing gathers borrower consent to sign electronically and attaches it to the document package.
  • Orchestrated signing – Built-in workflows allow a third party closing agent to conduct the loan closing.
  • Integrated – Mortgage loans are electronically registered with the MERS eRegistry, one of many possible integrations.