NotaryCam, which offers remote online notarization technology for real estate and legal transactions, has launched its “Done For You” e-closing program, which provides lenders with a fast path to e-closings while requiring minimal effort, effectively addressing common hurdles that have traditionally impeded e-closing implementation.
“Where I’ve had the most success from the lender’s seat is finding a title/settlement partner that could provide me with the e-close solution and process,” says Brian Webster, president of NotaryCam, in a release. “Our Done For You e-closing ecosystem puts the power in the hands of any title/settlement provider to be able to conduct and electronically close transactions for any of their lender customers. As a result, lenders can now reap the benefits of e-closings, including faster loan deliveries, reduced costs, and improved borrower satisfaction, with minimal disruption to their current processes and without needing to invest heavily in building the infrastructure themselves.”
The program simplifies the implementation process by minimizing changes to lenders’ existing workflows and partnering with title companies to deliver the tools they need to close transactions electronically for any lender customer.
The program allows lenders to send loan documents to their title partners as they do today – and the title company then submits the request to NotaryCam.
The program also offers advanced document handling whereby NotaryCam uploads the PDF loan package and automatically tags the documents, reducing manual and tedious tasks.
It also offers e-note generation and management. The platform generates the e-note from a GSE-approved vendor and deposits it into a NotaryCam e-vault. NotaryCam can then automatically deliver the completed e-note to the lender’s eVault or set up an e-vault for the lender if needed.
“Lenders are well aware of the faster delivery times and quicker loan sales that e-notes facilitate,” Webster says. “However, what often goes unnoticed are the operational efficiencies gained by eliminating paper files. No more shipping costs, delays or lost documents. Post-closing and secondary teams no longer need to manage physical files, reducing errors and saving time.
“By removing these operational hurdles and minimizing intrusion into the lender’s current process, our ‘Done For You’ approach provides a powerful tool for title partners,” he adds. “It’s about delivering an exceptional, game-changing advantage that makes the transition to eClosings as smooth as possible.”