What Are Digital Closings?

Home Buying

In our last blog post, we detailed the steps that Evergreen Home Loans is taking to make sure that home closings can take place in the age of COVID-19. Before COVID-19, Evergreen Home Loans was already utilizing eClose technology.

Digital closings or eClose are a way to process the closing documents for a home loan through an online platform deployed by Evergreen.  The portal allows borrowers to access, review and sign a majority of closing documents from their handheld or desktop device. Documents can be accessed from anywhere, eliminating the need for borrowers to leave their home unless critically necessary.

For most transactions, documents are available to view three days in advance of the earliest closing date. Evergreen customers receive a link directing them to the online closing portal. Two-step authentication factors ensure privacy and security. Once the closing documents are reviewed, customers can eSign in the portal or chose to wet sign all of their documents at a closing appointment.

Most documents can be signed electronically through the portal. Some states have even moved to allow Remote Online Notarization (RON) technology. If a physical notary is unavailable, a remote notary might be an option. Customers video conference with a notary, produce an ID, and the notary places a digital notary seal on the document.

In states where remote online notaries are not authorized or available, the handful of documents that cannot be eSigned are signed with a wet signature in person. Often in 10 minutes or less. This gives the customer peace of mind during the closing process and lets them quickly shift their focus to the celebration of their new home or refinance.

The eClose technology deployed by Evergreen Home Loans helps our customers close their real estate transactions with minimal disruption., Which in the age of COVID-19 are critically important. No matter where you are, we can help get you home.

Interested in learning more about our eClose program and closing remotely? Contact your nearest branch location.

 

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