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CFPB Report Hints at Future Role of eClosings

Friday, August 7, 2015

Over a year ago consumers pointed out, in a report from the Consumer Financial Protection Bureau (CFPB) the "pain points" they encountered in the mortgage closing processing.  The volume, complexity and lack of accuracy of the required documents were major complaints and appeared amplified by a lack of time to thorough review those documents. 

At that time CFPB identified electronic closings, also known as eClosings, as one way to alleviate some of these pain points.  These closings rely on technology to permit borrowers to view and sign closing documents electronically.  Under such a system documents can be delivered to the consumer faster and contain embedded links to help them understand specific terms as they encounter them.

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You have been awesome to work with from the beginning and between you, mike, and holly, this whole process has really been quite easy. I would imagine that is not the case for everyone so again, thank you so much for being so helpful each and every step of the way.
Ryan and Kelsey