Use eClose to streamline the closing process!
eClose dramatically enhances the closing process without disrupting the way a file is processed.
Now, borrowers can review their documents in advance. When it's time to sign, they can and eSign most documents at their convenience from anywhere on any device; on closing day or prior to meeting with the settlement agent/notary. It's easy, once the borrower consents, they will receive their documents electronically.
Securely replacing ink signatures with electronic signatures on digital documents: faster closings, convenience, increased security and improved quality.
FAQs
1. What loan parameters are not eligible for eClose?
Because the system determines eligibility, there is no guess work required. In general, the following loans* are not eligible for eClose:
• Bond Loans
• Jumbo Loans
• Closing with a POA
• Closing with a Trust
2. How does the borrower eSign closing documents?
The borrower(s) receives a secure email the day of closing, notifying them that their documents are ready to review and sign. Once the borrower authenticates their identity, they will have access to review and digitally sign their documents.
3. Which Documents Can be Signed Digitally?
Eligibility of the documents to sign electronically have been predetermined by each lender and updated in the package request. The following is a list of documents* eligible for eClose:
• All State Documents
• FACT Act Notice
• HUD/VA Addendum to URLA
• Important Notice to Homebuyers (FHA only)
• Notice of Servicing Transfer
• PMI Disclosure – Fixed Rate
• Statement Required by the Privacy Act – Form 410-9 (USDA only)
• Notice to Homeowner – Assumption of FHA Mortgages (FHA only)
• 1003
• 1003 Addendum
• 4506-T
• Airport Acknowledgement (VA only)
• Amortization Schedule
• Appraisal Valuation Acknowledgement
• Certification and Authorization
• Credit Score Disclosure
• Escrow Account Disclosure Enhanced Fees
• Informed Consumer Choice Disclosure Notice (FHA only)
*Eligibility Subject to Change
4. Will the settlement agent/notary know what to do?
Most settlement agents and notaries are part of the Simplifile Network, and are familiar with required next steps. Nevertheless, we have included simple instructions to attach to your closing documents email.
If they are not in the network, or call you with questions please give them the Agent Hotline: #800-460-5657 Option 3.