e Close: Simplifying the Mortgage Closing Process

  • By NotaryCam

  • 31 May, 2024

Imagine a world where closing on your dream home is as easy as clicking a button. No more mountains of paperwork, no more endless waiting, and no more stressful in-person meetings. That’s the promise of e Close, the digital solution that’s shaking up the mortgage industry.

With e Close at your side, closing time is now quick, precise, and oh-so easy for everyone. It’s like hitting fast forward on an old VHS but much cooler because it’s real life! Whether you’re a lender looking to streamline your operations or a borrower who wants a hassle-free experience, e Close has got you covered.

What Is an eClosing?

An eClosing is the digital way to close on a home. It’s a secure online process where you sign all your mortgage documents electronically. No more piles of paper to sift through or getting writer’s cramp from signing a bazillion times.

With an eClosing, it’s click, click, done. Here’s the official definition: An eClosing is a mortgage closing where the entire process is completed electronically. The loan package is digitized, eSigned, and eNotarized.

This includes the eNote, which is an electronic promissory note. Since everything is done digitally, the closing can happen in-person or remotely via audiovisual technology.

Benefits of eClosing

Why should you care about eClosings? Because they make life easier for everyone involved.

For borrowers, it means a faster, more convenient closing process. No more taking time off work to sign a mountain of paperwork.

Lenders and title companies benefit too. eClosings reduce errors, streamline workflows, and get loans funded quicker. It’s a win-win.

Types of eClosings

Not all eClosings are created equal. There are a few different flavors:

  • Hybrid eClosings: Some documents are signed electronically, while others are still wet-signed the old-fashioned way.
  • Full eClosings: The whole shebang is done online, including eSigning, eNote, eRecording and online notarization.

The type of eClosing you’ll have depends on factors like state regulations and investor requirements. But the industry is moving towards fully digital closings.

Remote Online Notarization (RON) Closings

One of the coolest aspects of eClosings is the ability to close from anywhere, thanks to Remote Online Notarization (RON). With a RON closing, you meet with the notary virtually via webcam. They verify your identity, watch you eSign the documents, and add their digital notary seal and signature.

The whole process is recorded and the video is stored as evidence. It’s like having a mobile notary come to you, but through your computer screen.

Differences Between RON and RIN

Don’t confuse RON with RIN (Remote Ink-Signed Notarization). With RIN, you still have to sign physical paper documents in front of the notary, who then scans and uploads the wet-signed docs. RON is fully electronic with no paper involved.

First American’s Expansion of RON Closings

The demand for RON closings skyrocketed during the pandemic. Companies like First American Title have expanded their RON services to meet this need. According to a recent press release, First American’s RON closings are now available in 27 states – a huge jump in accessibility.

Impact of the Coronavirus Pandemic on eClosings

Speaking of the pandemic, it was a major catalyst for the rise of eClosings. Social distancing made traditional closings a challenge.

To keep real estate transactions moving, many states temporarily relaxed their notarization rules. They allowed remote online notarizations to accommodate social distancing.

What started as a crisis response has now become the new normal. Experts predict RON is here to stay, even after the pandemic subsides.

Adapting to Virtual Closings

Lenders and title companies had to pivot quickly to virtual closings. According to HousingWire, this meant investing in new technology and training.

But those who adapted are reaping the benefits. Virtual closings have kept business flowing and borrowers happy during an uncertain time.

eClosing Solutions and Services

To do eClosings, you need the right tools. Luckily, there are plenty of eClosing solutions on the market. The goal is to provide a seamless, fully digital closing experience from start to finish.

NotaryCam’s eClose360

A major player is NotaryCam. Their eClose360 platform brings the advantages of remote online closing directly to consumers’ fingertips. Lenders can use NotaryCam eClose360 to order docs, perform audits, and execute digital closings, operating as an end-to-end solution.

Preparing for an eClosing

So you’re sold on eClosings. Now what? It’s time to get prepared.

To participate in an eClosing, you’ll need a computer or mobile device with internet access and a webcam. You’ll also need a valid email address to receive the digital documents. Some eClosing platforms require additional software or apps, but most are designed to be user-friendly, even for the tech-challenged.

E-Signing Process

The heart of an eClosing is the eSignature process. Instead of signing with a pen, you’ll click to apply a digital signature.

This is legally binding, just like a wet signature. The platform will guide you through each document that needs to be signed.

Comparing eClosings to Traditional Closings

How does an eClosing stack up to a traditional closing? The Forbes Advisor breaks it down: eClosings offer speed, convenience, and accuracy. But some borrowers may prefer the personal touch of an in-person closing.

It’s not a one-size-fits-all. The best option depends on your unique needs and comfort level with technology.

Reaping the Benefits of eClosings

Lenders across the country are seeing the benefits of eClosings firsthand. Faster closing times, fewer errors, and a better borrower experience – these are just a few of the perks. As one lender put it, “eClosings are a game-changer.”

The proof is in the pudding. eClosings are the future of mortgage lending. It’s not a question of if, but when.

So why not get ahead of the curve? Embrace the digital revolution and give your borrowers the modern closing experience they deserve.

Key Takeaway: 

eClosings are changing the game by making mortgage closings faster, simpler, and paper-free. Whether it’s from your couch or a cafe, you can click through the process without missing a beat.

It’s not just about convenience; it slashes errors and speeds up funding too. Ready to ditch the paperwork? eClosing is your answer.

FAQs in Relation to E Close

What is the meaning of eClosing?

eClosing means finalizing a mortgage online. It’s digital, paperless, and simplifies the closing process big time.

How does eClosing work?

In an e Close, parties sign documents digitally. Notaries also use this tech to seal deals from afar.

What is eClosing software?

eClosing software lets you manage mortgage closings electronically. It streamlines signing, notarization, and document storage all in one place.


e Close is the future of mortgage closings, and it’s here to stay. By embracing digital technology, lenders can offer their customers a smoother, more efficient experience while also reducing errors and saving time.

For borrowers, e Close means no more taking time off work for closing appointments or sifting through piles of paperwork. Everyone’s getting more from their real estate deals now – it’s reshaping our home buying and selling experiences in positive ways.

So, whether you’re a tech-savvy millennial or a seasoned homebuyer, e Close is the smart choice for a stress-free closing. Let’s jump on the digital wave together, where eClose turns snagging your new home into an absolute walk in the park.