For the past ten years or so, the mortgage industry has been looking for ways to speed up transactions. The industry has been enjoying technological innovation as lenders and start-ups seek ways to simplify, automate and accelerate the mortgage origination process.
Electronic documents are being encouraged more frequently to streamline the mortgage process. U.S. federal and state laws that permit lenders to originate e-mortgages in any state and deliver them to investors for purchase and now interest in e-mortgages is picking up speed.
Getting the Closing Process to go Digital Like Loans
Finding success using technology to speed up the loan processing process, lenders are now turning to their wing mates—title and settlement companies—to deliver similar results to the closing.
Electronic closings offer potential advantages over traditional closings for several reasons. The first is that it improves efficiency of the transaction and makes it more transparent. Second, it’s a less paper-intensive closing that saves time. Finally, in states that permit remote online notarization (RON), consumers can close almost anytime, anywhere.
Lenders can use digital closings to better serve borrowers. Reduced paperwork can offer an improved closing process and better experience. A digital closing process also improves data quality by reducing errors caused by missing documents or signatures. Since notes from an electronic closing are already digital, they can be quickly be transferred to an investor.

It’s inevitable that digital closings will one day become the norm, and most likely sooner rather than later. Lenders and settlement agents – indeed, everyone involved in the real estate transaction – will experience significant benefits from this transition, including reduced transaction costs, greater efficiencies, expedited turn times and improved consumer satisfaction.