Digital Closing and eNote Test Drive

As mortgage lenders increasingly shift to paperless loan closings, they must consider a range of business factors and a need to make the experience a good one for their customers. The implementation of these capabilities requires a comprehensive strategy encompassing every facet of a mortgage company’s operations, from origination to servicing, and often requires the technology and services of numerous vendor partners.

The lenders that succeed will strike a balance among their own needs, regulatory compliance issues, and borrowers’ desire for a painless, straightforward, and clear journey to the loan’s closing. Javelin followed one such loan from origination to funding. Here is how the process played out, with a look at what worked well and what can be enhanced.

Key questions discussed in this report:

• How can mortgage companies deliver a borrower-friendly digital experience from loan application to closing?
• What added benefits do paperless transactions offer lenders and borrowers before the final closing ceremony?
• How do mortgage closings using remote online notarization work, and how can the experience be improved?