In an ideal world, eClosings are simple and efficient, with technology taking the place of paper to accelerate the process so transactions can close accurately and on time. However, this isn’t always the case. There may be roadblocks with document accuracy, questions at the closing table or missed eSignatures that add further delays.
eClosePlus aims to solve these problems with its comprehensive eClosing solution, which includes SMART Note, eVault and automatic MERS Registration. Its eClosing capabilities range from hybrid eClosings to completely digital eClosings using remote online notarization (RON).
Powered by automated intelligence, eClosePlus is document-agnostic by design, able to take on documents from any source – and the system can learn a new document in an average of 30 seconds. Its AutoTag technology digitizes, automatically tags, categorizes and bookmarks any document, whether it’s generated by the lender or the settlement agent.
eClosePlus’s system checks document fields to ensure accurate and complete answers. Borrower names are automatically entered to eliminate typos, correct dates are entered as needed, and checkboxes and yes/no questions are marked as requirements so they can’t be missed.
“A lot of our clients tell us that we’re reducing the time that they’re spending in closing by anywhere between 30-70%, because they’re not having to review their documents,” said Eric Gilbert, chief technology officer. “They know once they get those documents back, everything’s perfect – they’re only looking at anything that’s been wet-signed.”
eClosePlus is dedicated to making the eClosing process simpler for its clients as well as borrowers. Lenders have visibility into where the borrower is in the process, and the platform even has automated reminders to let the borrower know that they need to eSign their documents before arriving at their closing so it can be executed smoothly. If the borrower has questions, they can chat live with someone in the signing room.
Implementation of the eClosePlus system is easy and fast. According to Gilbert, one client signed a contract to work with the platform on a Friday and closed their first loan using eClosePlus a week later.
eClosePlus is flexible to meet the needs of its partner clients. The solution includes IPEN, RON and eVault capabilities, but is built on an open structure and can integrate with other providers if that’s a lender’s preference.
The product can also be customized to match a lender’s branding, emails and web presence, including logos, colors and wording. The goal is to make sure lenders and their customers feel comfortable with the solution and know that borrower information is secure.
“Homebuyers using eClosePlus enjoy a streamlined process designed to be convenient, simple, accelerated and a pleasure to use,” Managing Member Allan Polunsky said. “Lenders, settlement agents and their customers are able to complete the closing process with the highest degree of satisfaction possible. Customers immediately recognize our state-of-the-art, fully digital technology which enables all parties to the transaction to participate in a unique and unequaled experience.”
Allan Polunksy, Managing Member
A veteran of the residential mortgage industry for more than 44 years, Allan Polunksy is a visionary in leading innovation. He is also the managing partner and founder of eClosePlus’ sister company, Polunsky Beitel Green, LLP, one of the country’s largest and most well-respected residential mortgage law firms.
Eric Gilbert, Chief Technology Officer
Eric Gilbert has been a leader and visionary in mortgage technology since the mid-90s and has extensive knowledge and experience in developing industry-leading software and procedures. He is known for his development of several strategic technology applications, including eClosePlus, and leadership of technology teams.
Stacey Maisano, Director of Business Development
Stacey Maisano has over 25 years of experience in virtually all aspects of mortgage and title including executive leadership. She is responsible for maintaining and expanding the company’s business portfolio. Maisano has a keen understanding of how to best address the sophisticated issues that regularly confront lenders and settlement agents.
