e-signings are not webcam signings. The client already does 99% of their loan process via e signature...this is the final step as far as the lender is concerned. Quicken loans is the front runner and the one to watch what they do. People are used to signing on the electronic key pad already in everyday life from the CC at checkout to the UPS package delivered. This will be no different. The NSA service will be to verify ID's and still conduct the loan as usual...the difference is no printing ahead of time. The customer will get their copy at the end of the closing and the lender gets immediate signed documents. For that, it must be signed in a place where you can print a full package at the end, and have equipment necessary to conduct the closing from a large screen during business hours for approval and submission.
I have a touch screen, and I don't believe the platform they are trying to work will use that feature, but the electronic signature pad. My touchscreen is for moving documents, opening links, but not practical way to write a signature unless you are on a draw and doodle area. The touch screen on a laptop is not like the one on a tablet if that helps.
We'll see what happens with this...the only thing I can see is that these types of closings will be held in a professional settings capable of using their technology during reg. business hours |
