Industry News

Electronic real estate closings debut in Indiana

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It took a simple "click-to-sign" process for several Indiana consumers to close their mortgage loans on June 6 and 7, as Stewart Title teamed up with First Republic Mortgage Corp. and Trustcorp Mortgage Co. for three electronic closings using Stewart's SureClose online transaction management system and eClosingRoom, the company said today. The closings also included Stewart's first electronic notarization of a closing transaction. Electronic closings are key in the movement towards eliminating paper from real estate deals. The digital or "paperless" real estate transaction is catching on, with big companies, trade groups and entrepreneurs investing in technology platforms, back-end systems and software to automate the real estate transaction. One of Stewart's first e-closings in Indiana involved a 73-year-old Indianapolis widow, Jane Ratliff, who said the decision to be involved was easy and that she was more nervous about buying another house than about the closing, according to St...