Posted by Darl Lamb on 12/2/10 12:39pm
Msg #363622

e-docs

I am new in the industry(2years)trying to learn new things, but can anyone explain what e-docs are? Thanks

Reply by Carolyn Bodley on 12/2/10 12:48pm
Msg #363623

hmmmm - 2 years and you don't know what edocs are? n/m

Reply by Moneyman/TX on 12/2/10 1:11pm
Msg #363627

Where do you get "2 years" from?

She stated that she is new to the business. Maybe I missed it. Thanks

Reply by jba/fl on 12/2/10 2:01pm
Msg #363633

Re: Where do you get "2 years" from?

New to the business (2 years)...etc. Read it again if you doubt me....LOL

Reply by Moneyman/TX on 12/2/10 2:34pm
Msg #363636

LOL - Duh me! ... please disregard my other post.

I'll be grabbing another cup of coffee now.

Reply by taxpro on 12/2/10 1:04pm
Msg #363625

Edocs are usually sent by email to you in the form of a pdf file, and you print them on your printer, as opposed to the docs being sent to you or borrower by overnight delivery. Another common method is that the docs are posted on the title company's website. You are given a user ID and password, and you log in, download them to your computer, and print them. You print an extra copy for the borrower.
This is not the same as an E-Signing, which is when you and the borrower sit down together at a computer, and some of the docs are "signed" electronically online.

Reply by Moneyman/TX on 12/2/10 1:18pm
Msg #363629

Good explanation. I would also add

that most of us charge an additional charge for edocs to cover printing and time costs. My normal charge is either $25 or $35, depending upon the number of pages included in the loan package.

Also, the fee covers a second set for the borrowers. Some of us also copy the files for the borrowers on a CD and use that as their copy. Views vary on this type of delivery system for the borrowers copies.

Good luck!

Reply by Patsy Cabiness on 12/2/10 7:38pm
Msg #363688

Re: Good explanation. I would also add

Good idea Moneyman. Is it more cost effective to put the borrowers copy on a CD than it is to print a second copy?

I love to save money and time! Makes my life easier! Do you ask the borrowers if they have a computer that they can read the CDs on or just take a chance and do the cd?

Reply by Victoria_NJ on 12/3/10 1:06pm
Msg #363790

why not just email the docs to the borrower after closing?

If your client allows it, that is even more cost effective.

Reply by LynnNC on 12/2/10 2:04pm
Msg #363634

If you have been closing loans for 2 years and don't know what edocs are, I am curious how you receive documents for the closings.