Utah-based Credit Union Launches Paperless Closing Service
February 10, 2011
Mountain America has partnered with Stewart’s PropertyInfo to offer a service that allows homebuyers to access and pre-approve most of the necessary documents online prior to closing.
Mountain America now offers the option for all of its Utah members to close mortgage transactions electronically. Homebuyers can access and pre-approve most of the necessary documents online prior to closing with Quick Close, a paperless mortgage closing service.
Quick Close serves as the primary communication and document delivery vehicle, where title agents, real estate professionals and lenders meet to compile the entire closing package from a secure website. Quick Close is powered by SureClose, a paperless transaction management system developed by PropertyInfo Corp., a Stewart Co.
“Members can accomplish their mortgage closings in an eco-friendly way,” said Jeanie Olsen, Mountain America’s vice president of mortgage services. “With all of the documents viewable online, paper can essentially be eliminated from the process. No longer do home buyers have to sign a stack of closing documents an inch or more thick – they can sign electronically and receive all of their documents on an easily transportable flash drive. We also provide access to their documents online after closing if needed.”
Title offices that have set up Quick Close along with eClosingRoom, a program also provided by PropertyInfo, can close mortgages using designated computers and electronic signature capture pads. Mountain America members will sign any remaining closing documents on the PC and sign a digital signature pad once. That signature is then affixed to all of the closing documents.
“The eClosingRoom is seamlessly integrated with Quick Close. By giving credit union members access to review and approve the majority of the closing and upfront documents online in the convenience of their homes, the time required at the closing table is drastically reduced,” said Nancy Pratt, director of business development for PropertyInfo Corporation.
Mountain America Credit Union has over 60 branches in Utah, Nevada, Arizona and New Mexico.