With rapidly evolving market conditions, borrowers’ growing appetites for digitization, and a new reality that has forced people to stay in their homes, it’s no wonder that mortgage lenders are seeking new and innovative ways to conduct as much business as possible from a distance.

Floify’s newest addition, Hybrid E-Closing, helps lenders accomplish this goal by empowering borrowers to electronically sign non-notarized portions of their closing package in advance of their actual closing appointment.

By utilizing Floify’s Hybrid E-Closing process, lenders are able to cut significant time from the in-person closing appointment.

The result is a much more focused and efficient signing session in which only the absolute most necessary documents need to be addressed with a wet signature and all parties involved are in-and-out and on their way in minutes.

How does Floify’s Hybrid E-Closing Work?

Floify’s Hybrid E-Closing builds on the fundamentals of the platform’s Disclosure Desk solution, which leverages integration with the lender’s LOS and the DocuSign eSignature solution to provide borrowers with a smooth and simplified disclosure signing experience within the Floify point-of-sale portal.

To enable a similar workflow, Hybrid E-Closing identifies the non-informational, non-wet-sign forms within the closing package and makes them available for eSignature within a borrower’s Floify portal.

Borrowers are then able to review the selected package in advance of a signing period that is calculated based upon the LOS’ closing date property.

At the same time, Floify pulls the settlement agent’s information from the LOS and sends the contact an email with links to the full closing package as well as the wet-sign closing documents so that they can be downloaded and prepared for the closing.

Throughout this process, Floify automatically sends notifications to the borrower via email and text message to let them know when the closing package is available for review, as well as when it is open for signing, and reminders to sign as the document’s deadline approaches. These alerts can also be triggered manually by the lending team.

Of course, not all closings happen exactly as planned.

Hybrid E-Closing was built to easily accommodate changes to the closing date as well as redrawn packages to ensure a smooth closing.

Once documents have been eSigned by the borrower, they are automatically uploaded back to the lender’s LOS. The borrower then completes the process by wet-signing the remaining documents at their closing appointment, receives their keys, and begins to enjoy their new home.

Hybrid E-Closing is available to Floify’s Enterprise-level lender customers who utilize the platform’s Disclosure Desk solution to streamline their disclosure signing experience.