Real estate and mortgage solutions provider SimpleNexus announced a partnership with Notarize that will enable eClosings on its platform.
SimpleNexus eClose now supports remote online notarization (RON), enabling lenders to efficiently conduct fully digital eClosings. Its integrated eSign capabilities offer borrowers the ability to sign documents on any web-enabled device, including mobile phones.
Intelligent workflows improve lender efficiency by automatically updating documents across all platforms and alert lenders when actions have been completed. EClosing portal access for settlement agents more closely engages them in the process.
SimpleNexus currently partners with Notarize to provide the RON portion of its eClosing process, but plans to expand in the future with more RON providers.
“SimpleNexus is committed to delivering lenders with a one-stop platform that seamlessly guides borrowers throughout the entire homeownership journey,” SimpleNexus President Cathleen Schreiner Gates said in a statement.
“The added capability of RON, which enables full eClose, gives lenders and borrowers the choice to make closing as digital as they want. In addition to improved borrower experience, full eClose offers lenders substantial return on innovation with improved operational efficiency, greater data integrity and faster delivery of loans to the secondary market.”
With the addition of RON to SimpleNexus eClose, lenders can provide borrowers with a fully digital, single sign-on homebuying experience from application to closing. Currently, 32 U.S. states allow full eClosings in which all loan closing documents are electronically signed and remotely notarized. RON bills have been introduced in several other states and at the federal level.
“Remote online notarization is rewiring the closing experience for the digital era, making it simple, more efficient and secure to close from anywhere, any time,” Notarize Cofounder and CEO Pat Kinsel said in a statement. “In all market conditions, consumers are clamoring for the technology that streamlines closing, and Notarize is thrilled to be on the SimpleNexus eClose platform to close that ‘last mile’ of the transaction to make full eClosings a reality.”
Increasingly, many experts believe 2021 will be a significant year for mortgage technology as many lenders and solutions providers improve their tech stack after last year’s originations surge.
