AmTrust Bank has closed over 10,000 mortgage loans using its proprietary eSign closing solution and adds that it has closed and sold more loans with an electronic note (e-note) than all other lenders in the nation combined.
eSign converts the majority of legal closing documents into an electronic format for both fixed-rate and adjustable-rate loans. In addition, closing documents can be reviewed in advance via the Internet at any time or place to ease borrower anxiety and eliminate the guesswork, the company explains. After closing, borrowers receive their own copy of all closing documents on disk or flash drive to take with them.
‘The AmTrust model is an incredible win for everyone – the consumer, our mortgage and closing partners and even the environment,’ says Jon Baymiller, AmTrust Bank's executive vice president of mortgage lending.
Source: AmTrust Bank