Docutech is integrating its Solex e-closing product with Simplifile's communication technology that connects lenders, settlement agents and county recording offices.
With this tie-up, settlement agents can conduct e-closings with e-sign, e-notarize and e-recording capabilities.
Lenders have "an expedited ramp-up on their digital mortgage initiatives" by establishing a consistent, more efficient process for settlement agents to use, the two companies said in a joint press release.
Borrowers will be able to preview their closing packages and have the option to e-sign any document that doesn't require notarization prior to closing. From there, the closing agent and borrower can complete the closing electronically, with full e-notarization capabilities.
Once the closing is complete, settlement agents can electronically submit documents to counties for recording. The recorded documents and data along with other trailing documents will then be electronically returned to the lender.
"As more and more lenders strive to make e-close their transactional standard, we are focused on delivering the comprehensive solutions they need to optimize this process and provide their borrowers with the most streamlined experience," said Docutech President and COO
"Our integration with Simplifile enables us to bring the industry one step closer to a mainstream paperless mortgage process."
North State Bank Mortgage did
Separately, United Wholesale Mortgage completed what it says is the industry's first virtual closing on a loan in Chicago on July 28. As part of the process, UWM used a remote notary.
