Accommodating borrowers’ varying preferences for signing their loans — from traditional wet signings to in-person electronic notarization (IPEN), remote online notarization (RON) and hybrid solutions — is fast becoming table stakes for lenders. Barry Coffin, managing director, origination title and close at ServiceLink, shares insights into how working with a signing partner that covers all the bases can ease lenders’ transition into virtual signing and deliver an exceptional customer experience.
Q: Does ServiceLink offer a comprehensive signing-only solution?
Yes. ServiceLink’s streamlined signing solution simplifies and standardizes the closing process for purchase, first mortgage and home equity loans in all 50 states, and stands out from other options in several ways. Our advanced technology digitizes previously manual processes, including enabling consumers to control the timing of their closings through an easy-to-use solution. Our network of specialized real estate notaries and attorneys is experienced, accessible and held to the most stringent standards. And, we offer a full suite of in-person or virtual closing options.
Q: How does your solution support lenders looking to incorporate eSigning into their workflows?
Our vendor-agnostic, plug-and-play solution makes it easy to transition to an eSigning strategy, no matter where you may be in your modernization journey. Our proven network supports multiple signing programs for refinance, home equity and purchase transactions – including remote online notarization, in-person electronic notarization and hybrid signings. We can work with the doc gen and eSigning provider of your choice without disruption to your current workflows. For all types of closings, we closely manage signing agent professionalism, quality and performance through detailed score carding.
Our team also provides support as needed with your program management, training and launch. We can help lenders transition to a more virtual closing experience. For example, some lenders prefer to start with in-person electronic notarization, which offers many of the same benefits of remote online notarization while still allowing for a face-to-face and/or in-branch closing experience.
Q: Can ServiceLink work with other title and escrow agencies?
Absolutely! Our vendor-agnostic solution is designed to fit into any processes you have in place. If you want to continue using your existing title and escrow providers, we will engage with them directly to ensure your closing processes are seamless and efficient.
Q: Does your signing solution work for home equity, refinance and purchase closings?
A: Yes. We know that your loan volumes and focus fluctuate with movements in the housing market. That’s why we’ve built so much flexibility into our solution. Whether your current focus is home equity, refinance or purchase transactions, we can support your signings with agents who are experts in that particular area. This expertise, combined with the full range of signing options for both uninsured and insured title products, enables you to easily pivot based on consumer preferences and the market.
Q: How does ServiceLink’s solution improve the customer experience?
A: When it comes to closing their loans, borrowers are straightforward about their needs: They want to get to the closing table quickly, have the assurance their loan documents are handled expertly and experience ease, transparency and seamlessness from start to finish. ServiceLink’s signing solution helps lenders fulfill all of these needs.
First, ServiceLink’s instant scheduling technology, EXOS® Close, empowers your customers to self-schedule their signings electronically at their convenience. After receiving a prompt to schedule via text or email, they can simply view appointment openings and select the time, date and location that work best for them. You have the ability to configure open appointments to your preferred date range. They then receive confirmation of their appointment, which includes the signing agent’s name, photo, contact information, and vehicle make and model. If you or your borrowers prefer, your representative can manage scheduling on their behalf using EXOS Close.
EXOS Close gets borrowers to the closing table faster — potentially cutting days out of the process — which is beneficial to them and you. Lenders that have integrated EXOS Close into their point-of-sale solutions have reported that almost 100% of borrowers select the first available date to close and reschedules are reduced by 98%.
Then, when signing day comes, the borrower benefits from working with knowledgeable, experienced signing agents, whether face-to-face or remotely. Every member of our dedicated panel has experience with real estate transactions, so they know how to ensure the signing process goes quickly, smoothly and with the utmost accuracy.
Finally, ServiceLink’s closing processes, which include a rigorous pre-close quality check, dramatically reduce post-close document deficiencies and funding delays. 95% of executive closing documents are uploaded the same or next day. The process is swift, smooth and easy for the borrower, which leads to satisfaction, loyalty and referrals.
Q: What notifications are provided throughout the closing process?
A: You and your borrower will benefit from unparalleled transparency into your closing events, too. You receive notifications when the appointment is confirmed, when documents are delivered, when the agent checks into the appointment and when the closing is complete. The borrower receives instant signing agent confirmation, reminders on the day of the closing and a GPS-coordinated text notification that their signing agent is on their way, along with their ETA.
In short, ServiceLink brings decades of closing experience backed by proprietary technology, scalable processes and dedicated service teams to the closing table. Our unified signing solution fulfills the diverse closing needs of lenders and borrowers nationwide.