What is eClose assist? eClose assist allows for a limited amount of documents to be signed in the presence of the Notary or Settlement Agent with the remaining of the closing package to be electronically signed from the borrower’s home computer.
For any questions, email us at eClose@fairwaymc.com
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
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
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
No, the borrower does not have to review and accept the documents prior to closing
The wet signed and document requring notary are facilitated by settlement and excuted just as they are today, no difference with eClosing
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
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)
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
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
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
Yes, Settlement Agents can assign closing right within their Closing Center to their Mobile Notary to facilitate the Hybrid eClosing
Remote online Notarization is in beta now and we anticipate will be available in 2020 in states where allowed. More to come
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
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
Closing Center does not currently suppot batch signing. Borrower will click to apply their signature on each document
No, Borrowers will not be required to view the documents prior to closing
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
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
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
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
Remote online Notarization is in beta now and we anticipate will be available in 2020 in states where allowed. More to come
The access code is provided in the Closing Instructions to the Settlement Agent prior to the closing
Yes, both Purchase transactions as well as Refinance transactions are eligible in: FHA, VA, and USDA are eligible for eClose Hybrid
Both option are free. Best practice would be to create log in so they can manage transactions via their dashboard in the Closing Center
Correct, same as today in returning the wet signed documents. Follow current procedures.