Fairway ExpressClose® for Settlement Agents

Two ways to eClose

Option a

Settlement Agent can facilitate the eClosing in their office using a tablet, laptop, or computer. When Settlement Agents receive the closing package from Fairway, there will be a small portion of the documents that need to be printed. (These documents will not have a watermark on them. The bulk of the closing package will be watermarked as “Review Copy Do Not Sign.” The watermarked documents are the documents for eSignatures and do not need to be printed. There are eClosing instructions included in every closing package that walks the Settlement Agent through how to access the eClosing portal, if there are facilitating the eClosing in their office.
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If a Notary is being used to close the transaction, the notary would need to have a tablet, laptop or computer and be provided the Guest eClosing instructions to access the online portal.

"Option A" closing typically looks like:

Borrower meets with Settlement Agent or Notary: Signs the 5-10 documents that require a wet signature, then is handed a tablet or laptop to sign their eDocs.

The wet sign and eSign portion MUST be completed on the same day.

If the Settlement Agent is not equipped to support an eClosing in their office, consider Option B.

Option B

The eClosing can be completed prior to meeting the Settlement Agent or Notary for the wet sign portion of the closing documents. The borrower will need to have a computer, laptop or tablet in their home. Borrowers cannot eClose from a smart phone.

To request an eClose assist, reach out to eClose@fairwaymc.com and provide the following information:

"eClose Assist Request" as the subject line of the email.
Fairway loan number
Borrower's first and last name
Best contact number for the borrower
Settlement agent first and last name
Date of signing

Example

IMPORTANT: If the borrower prefers a call at a specific time, please indicate this clearly on the request.

Frequently Asked Questions

Q: When will this be implemented?

Closing Center is live and ready to use for Express Close files now. See information on the Mortgage Tech page on the Intranet or reach out to: eclose@fairwaymc.com

Q: Are reverse mortgages considered specialty? ie: not yet available?

We have reached out to our partners at Ginnie Mae to confirm eligibility for Reverse HECM loans. Look for more information to come on status of this loan type

Q: Does ExpressClose require borrowers to close at title company?

Correct, with the Hybrid eClose the borrower will meet with the Settlement agent at closing just as they do today to review and sign both the digital and the wet signed documents

Q: Does the borrower have to review and accept docs prior to closing? I believe that is the process with Pavaso.

No, the borrower does not have to review and accept the documents prior to closing

Q: What about documents that need to be Wet Signed & Notarized? We have a handful of documents that needs this.

The wet signed and document requring notary are facilitated by settlement and excuted just as they are today, no difference with eClosing

Q: Does the buyer's attorney get an opportunity to review these documents with the borrower as well before the e-sign?

Yes, the attorney or settlement agent will be able to review all of the closing documents in the portal or in the closing package prior to settlement

Q: What wet docs are signed at the e-closing closing?

eSigned or digital docs is approximately 17-19 depending on state. Wet Signed docs: Mortgage/Deed of Trust, Riders, Name Affadavit, Right to Cancel, Patriot Act form, Mineral Rights (if applicable)

Q: Are the title companies easily able to print the wet-signed docs prior to the borrower arriving at closing?

Yes, settlement receives the wet signed documents as they do today and is easily able to print these documents prior to the borrowers arriving to closing

Q: You said we cannot use this on bond loans, correct? Will those be accepted in the future?

Yes, we are working with bond agencies to identify if they will accept Hybrid eClosings and the documents they allow to be digitally signed. We anticipate early 2020 as agencies adopt

Q: Do you have a Demo for our Settlement Agents/Bank Attorney's?

Yes, we do have an introduction video on it's way to you. We will send over to you as well as included on the Intranet under Mortgage Technology > Technologies > Consumer Experience > Fairway Express Close (Icon) > More info

Q: Does this work for a mobile notary to still be able to do the closing at the borrowers home or work?

Yes, Settlement Agents can assign closing right within their Closing Center to their Mobile Notary to facilitate the Hybrid eClosing

Q: When will we be able to do a full eclose with RON?

Remote online Notarization is in beta now and we anticipate will be available in 2020 in states where allowed. More to come

Q: Can you explain the difference between eClose Hybrid and eClose with eNote. Hybrid is for Govt and eClose is Conv, but what's different between the two?

eClose with enote includes the electronically signed promissory note and is used on conventional transactions. The Hybrid eClose is a government; FHA, VA, or USDA only difference is no eNote allowed on government yet

Q: When borrower signs electronically and chooses to have signed documents emailed, how do they get copies of the notarized docs? Or, are they included in the package for esignatures as well as wet sign?

Today on a Hybrid eClose the borrower can elect to have the signed digital documents email to them. In this scenario just as today the settlement agent will provide the borrowers copies of the documents that were wet signed

Q: Do the borrower's "sign" each closing document or do they "sign" once and it gets applied to all closing docs?

Closing Center does not currently suppot batch signing. Borrower will click to apply their signature on each document

Q: Does the borrower get a link in advance to view the docs prior to closing?

No, Borrowers will not be required to view the documents prior to closing

Q: Will this work for refi closings at the borrower's home using a traveling notary?

Yes, Settlement Agents can assign closing right within their Closing Center to their Mobile Notary to facilitate the Hybrid eClosing. NO sign up, contract, training, or additional fee for Mobile Notary

Q: Does the settlement attorney have the capability to print the documents if needed and switch to paper? Say there's no internet access, their tablet breaks, or whatever may come up.

We do not have a "paper out" option today so Closer will simply request a redraw to paper. We are looking at this feature for future enhancements

Q: How will this affect closings where there is a remote notary being used to close them remote and when multiple borrowers have to sign at two different times?

Both can be accomodated. (1): Settlement Agents can assign closing right within their Closing Center to their Mobile Notary to facilitate the Hybrid eClosing. NO sign up, contract, training, or additional fee for Mobile Notary (2): Borrower's do not have to attend settlement at the same time. They can attend at separate times and both sign their documents electronically as scheduled

Q: How soon can we start eclosing with Fairway Express Close?

Closing Center is live and ready to use for Express Close files now. See information on the Mortgage Tech page on the Intranet or reach out to: eclose@fairwaymc.com

Q: Is it possible for a borrower to remotely log into a title company computer and eSign remotely?

Remote online Notarization is in beta now and we anticipate will be available in 2020 in states where allowed. More to come

Q: Does the borrower receive an email with their access code # and when does that get sent prior to closing?

The access code is provided in the Closing Instructions to the Settlement Agent prior to the closing

Q: Can we eclose both purchase and refi?

Yes, both Purchase transactions as well as Refinance transactions are eligible in: FHA, VA, and USDA are eligible for eClose Hybrid

Q: Do we prefer that the SA set up closing center vs guest access?

Both option are free. Best practice would be to create log in so they can manage transactions via their dashboard in the Closing Center

Q: For funding purposes the package will auto upload into the applicable folders we would just need the title co. to send the final CD, 1003 etc that were wet signed?

Correct, same as today in returning the wet signed documents. Follow current procedures.

Facilitating eClosings with no fee and no contracts TODAY

Two ways to eClose

Downloadable Assets

Frequently Asked Questions

Q: When will this be implemented?

Q: Are reverse mortgages considered specialty? ie: not yet available?

Q: Does ExpressClose require borrowers to close at title company?

Q: Does the borrower have to review and accept docs prior to closing? I believe that is the process with Pavaso.

Q: What about documents that need to be Wet Signed & Notarized? We have a handful of documents that needs this.

Q: Does the buyer's attorney get an opportunity to review these documents with the borrower as well before the e-sign?

Q: What wet docs are signed at the e-closing closing?

Q: Are the title companies easily able to print the wet-signed docs prior to the borrower arriving at closing?

Q: You said we cannot use this on bond loans, correct? Will those be accepted in the future?

Q: Do you have a Demo for our Settlement Agents/Bank Attorney's?

Q: Does this work for a mobile notary to still be able to do the closing at the borrowers home or work?

Q: When will we be able to do a full eclose with RON?

Q: Can you explain the difference between eClose Hybrid and eClose with eNote. Hybrid is for Govt and eClose is Conv, but what's different between the two?

Q: When borrower signs electronically and chooses to have signed documents emailed, how do they get copies of the notarized docs? Or, are they included in the package for esignatures as well as wet sign?

Q: Do the borrower's "sign" each closing document or do they "sign" once and it gets applied to all closing docs?

Q: Does the borrower get a link in advance to view the docs prior to closing?

Q: Will this work for refi closings at the borrower's home using a traveling notary?

Q: Does the settlement attorney have the capability to print the documents if needed and switch to paper? Say there's no internet access, their tablet breaks, or whatever may come up.

Q: How will this affect closings where there is a remote notary being used to close them remote and when multiple borrowers have to sign at two different times?

Q: How soon can we start eclosing with Fairway Express Close?

Q: Is it possible for a borrower to remotely log into a title company computer and eSign remotely?

Q: Does the borrower receive an email with their access code # and when does that get sent prior to closing?

Q: Can we eclose both purchase and refi?

Q: Do we prefer that the SA set up closing center vs guest access?

Q: For funding purposes the package will auto upload into the applicable folders we would just need the title co. to send the final CD, 1003 etc that were wet signed?