eSign is Not Your Savior

As the real estate industry looks past TRID, businesses are exploring ways to comply with the CFPB and give the consumer a better experience. Most are looking toward technology to provide benefits, and some specifically to the ideas of eSigning and eClosing.

As businesses do more research on these topic, many conclude that eSigning and eClosing are the same general solution. This couldn’t be more wrong. Yes eSigning digitalizes the signature, but eSigning is only a small part of an actual eClosing. The entire eClosing process can include everything from negotiating the contract with your realtor to an actual digital closing and then post-closing document storage. However, many businesses still expect to overhaul the consumer’s experience with simply eSigning. These individuals should be aware that in the scheme of the transaction, consumers may not gain the expected value from its implementation.

In this episode of Mark’s Minutes, Mark breaks down the difference between eSigning and eClosing and all the different processes that eClosing incorporates. He walks through the steps to evaluating where business problems lie, and how eSigning and eClosing can help those issues. Lastly, he explains the overarching benefits of implementing each of these solutions into your business, and how they can add value for the consumer, leading to a better experience for everyone in the transaction.