Industry News

Electronic real estate closing system debuts

EClosingRoom aims for speedier settlement process

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Stewart Title Co. and Silanis Technology have launched eClosingRoom, an electronic closing platform that is fully integrated into an existing online transaction management system.

EClosingRoom gives lenders the ability to expedite the document preparation and delivery process, while allowing consumers to review and sign many of their loan and other documents electronically prior to the actual closing meeting. According to Darren Ross, director of e-commerce at Stewart, eClosingRoom can reduce the time between contract signing and closing to a matter of days.

Users access eClosingRoom through Stewart’s transaction management system, SureClose. The transaction system enables all parties of a transaction to communicate, set notifications and manage documents online without the need for special software.

Consumers can electronically sign documents that do not require a notary or witnessed signature using eClosingRoom.

The eClosingRoom platform supports documents conforming to the Mortgage Industry Standards Maintenance Organization (MISMO) SMART documents standards.

Stewart Information Services Corp. is real estate information and transaction management company. Stewart provides title insurance and related information services through more than 7,800 issuing locations in the United States and several international markets.

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