Industry Insight, Leadership Insight, Technology
It's Complicated: The Truth About eClosing
Jul 10, 2018 • Asurity Technologies
eClosing is no closer to uniform adoption across the country today than it was when it first began to be discussed - and there's a reason. President of MRGDocs at Asurity Technologies, Mike Riddle, explains.
Insights on eClosing
15 years ago, eClosing was simply the idea that you could deliver a note to the closing table and have someone electronically sign it. Today, eClosing is a combination of eight to ten separate activities, including the creation of 20 - 40 e-signable documentation, electronic delivery to multiple users, and adherence to all relevant rules and laws. "This is 12 - 15 years of 'we need to adopt electronic closings'," says Mike Riddle, President of MRGDocs, "but [because of these complexities], we're slow in doing it."
Watch the video to understand how far we've come, and how far we've yet to go.