Quicken Loans Makes History With eClosings In All 50 States
Quicken Loans is now the first mortgage lender with the ability to perform eClosings in all 50 states, according to a press release.
"Since completing its first eClosing in November 2017, Quicken Loans has completed 96% of all electronic mortgage closings in the country, according to the company's volume registered with the Mortgage Electronic Registration Systems (MERS) eRegistry," according to the release.
"For more than 30 years, we have worked tirelessly to improve the mortgage process. We are continually researching, building and implementing new technologies to streamline the entire client experience – from start to finish," said Jay Farner, CEO of Quicken Loans.
"This is a turning point for the housing industry and the first step in reducing one of the biggest pain points in the mortgage process. We will not stop until our clients can close their home loan from anywhere, at any time."
With the existence of eClosings in all 50 states, folks no longer have to put a physical pen to paper on all pages of their documents, all documentation can be signed digitally with the exception of a few pages (the exact number varying by state).
"Additionally, Quicken Loans clients can finish the mortgage process with an IPEN eClosing," according to the release.
"When clients use the IPEN process they digitally sign all the documents on a mobile tablet or laptop, with the notary or closing agent present."
If the IPEN process is used, there is no need for an actual pen to touch paper. To learn more about Quicken's eClosing processes that are now offered nationwide, click on the image above.
