As Director of Closing Operations with over 12 years in PRMI's closing department, I’ve been a strong advocate for eClose, believing it’s the future of the mortgage industry. As we continue to evolve in this space, the benefits have only become more apparent. PRMI began our eClose journey in 2019, steadily gaining traction, but it wasn’t until 2022 that we truly began to scale our eClose volume. This shift has unlocked a wide range of advantages, reshaping the way we conduct business and helping us streamline the closing process.
What Support Staff Are Saying About eClose
One of our Closers with over 13 years of expieriance in operations recently said, “Why can’t all closings be Hybrid with eNote & RON? The easiest/fastest closing ever!” That’s what eClose offers—not just efficiency but an entirely new level of customer satisfaction. It’s not just about speed and cost savings; it’s about creating a seamless experience for your borrowers, making you the go-to resource for stress-free closings.
Simplify the Process for Borrowers—Boost Business
One of the most immediate and impactful benefits of eClose is how it simplifies the closing process for borrowers. Traditional closings can be time-consuming, involving multiple parties and stacks of paperwork. With eClose, much of this is streamlined. Borrowers can review their documents prior to closing and sign most of them electronically, allowing them to move through the process more quickly and conveniently—whether at home or on the go. This flexibility reduces stress and saves time, creating a smoother, more satisfying experience. And happy clients mean more referrals.
More Efficiency Means Faster Closings—and More Sales
For loan officers, time is money. eClose has reduced our average dwell time by 3.5 days for eNote transactions. This not only saves costs on paper, shipping, and couriers but also speeds up the entire funding and selling process. More importantly, the faster turnaround in the closing process and less time spent tracking lost packages means loans are funded and sold more quickly, greatly improving operational efficiency. No one wants a closing delayed by paperwork errors. With eClose, automation ensures fewer mistakes, thanks to built-in safeguards that check every signature and form. This means fewer delays, happier clients, and a cleaner pipeline.
As a leading eNote provider, we’ve experienced firsthand how this speed benefits everyone involved—from lenders to investors and, ultimately, borrowers.
Leading the Way in eClose
As early adopters of eClose, we’re proud to have been ahead of the curve in offering these benefits to our borrowers. Over the years, we’ve gained invaluable experience, providing feedback and insights that have helped others in the industry embrace eClose. The process continues to improve, and we are excited about the future as we work diligently to get more investors vetted and approved to accept eNotes.
Looking Ahead: The Future Is eClose
With the industry's ongoing evolution, eClose will continue to be a key element in mortgage transactions, and we are dedicated to staying at the forefront of this innovation.
PRMI is committed to further increasing our hybrid adoption rate as we expand our eClose offerings. By embracing eClose, we are not merely adapting to industry trends, but actively shaping the future of mortgage transactions, one digital closing at a time.
If you have questions about how eClose can benefit you and your homebuyers, we’re here to help. Don’t hesitate to reach out—we’d love to partner with you in offering the many advantages of eClose!