Documents which do not require notarization can be electronically signed anytime on the day of closing
Only documents requiring a wet signature must be notarized
Less time required with notary due to less physical paperwork to sign
Impossible to miss a signature on an electronic document as the borrower cannot proceed forward without signing each page
Easier QC process and less paperwork
Best place for lenders to start adopting benefits of an eClosing
RON
All documents are signed and notarized electronically
Borrower has online appointment, receives a link and is connected virtually with notary
Borrower can be located anywhere in the world to complete the virtual transaction
Impossible to miss a signature on an electronic document as the borrower cannot proceed forward without signing each page
74% of counties in the U.S. will accept a RON
Easier QC process and no paperwork
The upgrade path for lenders who start with Hybrid
eNote
Better liquidity due to significantly reduced time required to sell to investors
PATH TO IMPLEMENTATION
For lenders working with Silk Title Co., the implementation of Hybrid, RON, and eNote is not difficult. As a lender, you decide which eClose platform works best for your organization - we can advise based on our experience and knowledge of your business process which partner may be the right fit. The eClose platform will then handle the implementation, Silk will receive login credentials, and your organization can start leveraging the value of eClosings.