How E-Closings Help You Close Your Loan Online and On Time!

In the past, your mortgage “closing day” was super-exciting (PS, it still is!), but it meant scheduling multiple people to come to an office and spend an hour or more hand-signing (“wet”-signing) dozens of documents in person. 

But Atlantic Bay knows that in this busy age, whether it’s work, kids, living remotely, or living abroad as one of our country’s great service members, signing documents in person can be quite a task. (And if you had a prickly seller, who wants to hang out with them for an afternoon, right?) 

This is why for several years we’ve been offering our e-closing process (with thousands of happy clients), in which you can digitally sign your closing documents from anywhere you like – no time off needed, just a camera-equipped computer or mobile device!  

Benefits of E-closings 

Some people like signing documents the traditional way – and that’s totally fine! But the benefits of e-closings, both to you and the lender, are many. Just a few include:  

• Less paper and lower shipping costs 

• Less time and travel 

• Fewer chances of a document getting lost or missing a signature 

• Easier to view your documents ahead of closing 

• All performed in a completely secure environment 

• Your loan can be funded faster 

Types of E-closings 

Depending on your availability and comfort level with technology, there are three ways to use electronic documents to make your loan process easier and faster. Which process you use depends on your loan program and your own preferences – your Mortgage Banker can help! 

• RON (Remote Online Notarization): With no wet-signing required, you don’t need to go to an office! The entire process takes place on your device. 

• In-Person E-notarization (IPEN): Utilizing an e-note (an electronic version of your promissory note outlining the terms under which you’ll pay back the loan), you’ll meet a mobile notary and wet-sign your documents with them.  

• Hybrid: You’ll sign most of the documents online, and wet sign a few others. 

Keep in mind some state housing agencies don’t allow e-closings. Also, some borrowers may still need to meet with a settlement agent to wet-sign their notarized documents. But the bulk of your closing can be done online, ahead of time.  

A Quick Overview 

So, let’s say you’ve decided to close your loan digitally (huzzah!). Here’s an idea of what you can likely expect next. 

First, you’ll get an email from your lender with a link to your closing documents. Be sure that you’re on a secure wifi connection, and read all the instructions. If the email arrives before closing day, the link will only allow you to preview your documents. You can only sign your documents on your scheduled closing day. Click the link to review your closing documents and enter what the security prompts require (like the last 4 digits of your Social Security Number). 

On closing day, you’ll receive a second email reminding you it’s time to sign, with a new link. Follow the instructions to log in and begin signing/initialing by clicking the highlighted tabs. As we mentioned before, there may be some documents highlighted that must be signed at your settlement agent’s office. 

Hit “submit” and you’re done! You can also download and print your documents for safekeeping. 

Atlantic Bay is happy to help you have the closing you like – and we’ll be here for you long after.