Attention Mortgage Broker! Now is the time to approach the need for your lender for immediate satisfaction in the form of quick completion of mortgage lending. The complete digitization of the finalization process is the only opportunity to meet this customer expectation, especially in a COVID world.
This article shows you how to complete document processing online with an electronic signature Online in the last step of the lending process (sign up for a 14-day DocSignPro trial). After processing the documents, the money can be withdrawn and paid out on time so that you do not have to worry about losing customers.
The biggest challenge in traditional mortgage lending
All types of loans, including mortgages, are today more challenging to repay than ever before. And as borrowers become increasingly demanding and technically sophisticated, it is necessary to change the mortgage termination. Here are some of the challenges you can face as a lender.
Delays hinder the timely completion of a mortgage. Time is of the essence when it comes to the sensitive and laborious process of mortgaging a mortgage. Something as fundamental as the timely signing of a contract can differentiate between business success and failure. Even a party’s mistake or delay in signing can lead to a bad customer experience, and you will lose the mortgage settlement. To avoid losing customers due to delays, it is essential to focus on speeding up the process from time to time.
Loss of productivity for lenders
Your employees spend a lot of time with administrative tasks, such as. For example, maintaining electronic signature online, scanning and printing documents for mortgage transactions, etc. So there is no time for them to focus on more creative and strategic ways to improve graduation rates.
Customers feel rushed in their decisions
Most mortgage transactions take place at the lawyer’s office or real estate company, where the lender is likely to see the contract for the first time. As a result, homebuyers do not have enough time to read the closing documents and better understand the risks before signing them.
Engage your teachers
Make sure that your employees are recruite as early as possible. Discuss the potential benefits of digital documentation and discover how it can make your daily life easier. You are also listening and agreeing on any concerns you may have regarding compliance with regulations. Finally, you should make sure that they are well educate and feel support during the transition.
The difficulty of processing documents remotely.
In the age of social distance, it is difficult for customers and mortgage brokers to exchange and sign many mortgage closing documents from afar. By choosing a robust and first-class electronic signature online app, you can allow your employees to offer an excellent mortgage termination.
The benefits of DocSignPro for e-closing mortgages
Sure, the industry has been blocking mortgage documents for years in some form. However, as this is not efficient enough, you will need to redesign your workflow digitally. To improve the efficiency and success of mortgaging, lenders should use at least a secure, free best online signature app of Word Files such as DocSignPro.
Here are some of the features that make DocSignPro a favourite with small to medium-sized banks and other lenders.
- Secure signing and SSL encryption is one of the best
- Legally binding – ESIGN and eIDAS compliant
Easy to operate
With status tracking, the ability to save frequently used mortgage templates. And accessible electronic signature warning notices, you can streamline your workflow upon completion.
Storage in the cloud
Integration with cloud solutions for automatic archiving of documents Secure approval of many documents and customers at the same time
Remote control bar
With a mobile-first app, homebuyers can sign documents anytime, anywhere. To increase productivity, we recommend integrating DocSignPro with your business or productivity applications. This way, your employees and customers can even sign without interrupting their workflow.
Improving document security
When you store your files in the cloud, you are more secure than in a filing cabinet. Using test paths, you can track each file interaction so that the information can permanently be assign to the correct source. In addition, you can access your files from anywhere, and your sensitive data is always protect from loss or accidental destruction.
The paperless document organization with electronic signature Online apps can be configure. So that all the resources needed for your teaching and administrative staff are in one place. Consider it an integral part of your Enterprise Resource Management Systems.