How to Prepare for a Hybrid or Full eClosing
The mortgage industry is rapidly evolving, and eClosings are at the forefront of this transformation. Whether you're preparing for a hybrid eClosing or going fully digital, understanding the process is key to ensuring a smooth, stress-free experience. Here’s what you need to know to be fully prepared.
What Is an eClosing?
An eClosing refers to the electronic closing of a mortgage loan. This process allows all or part of the mortgage documents to be signed digitally. There are two main types:
Hybrid eClosing: Some documents are signed electronically, while others—typically those requiring notarization—are signed in person.
Full eClosing (or RON eClosing): All documents, including those needing notarization, are signed electronically via Remote Online Notarization (RON).
Why eClosings Are Gaining Popularity
eClosings offer a variety of benefits for both borrowers and lenders:
Faster closing timelines
Enhanced convenience and flexibility
Reduced paperwork and errors
Greater transparency in the signing process
Improved borrower satisfaction
Steps to Prepare for a Hybrid or Full eClosing
1. Confirm the Type of eClosing
Speak with your lender or title company to understand whether your closing will be hybrid or fully digital. Each type may require different levels of technology and preparation.
2. Verify Technology Requirements
For full eClosings, you’ll need:
A reliable internet connection
A desktop, laptop, or tablet with a webcam and microphone
Access to the lender’s eClosing or RON platform
A government-issued ID for identity verification
For hybrid closings, you may still need access to an online portal to sign some documents electronically.
3. Complete eConsent and ID Verification
Before the closing date, you’ll be required to:
Review and electronically consent to receive and sign documents online
Complete identity verification through the platform (often via a selfie and ID scan)
4. Review Documents in Advance
Most lenders provide early access to the closing package. Take advantage of this to:
Carefully review your loan documents
Flag any questions for your lender or real estate agent
Understand key terms such as interest rate, loan amount, and payment schedule
5. Coordinate with All Parties
Ensure that your lender, title agent, and notary (if applicable) are aligned on the closing time and technology platform. For hybrid closings, confirm where and when the in-person signing will occur.
6. Prepare for the eClosing Session
On the day of your eClosing:
Ensure your device is charged and software updated
Find a quiet, well-lit space
Log in a few minutes early
Have your ID ready
If it’s a full eClosing with remote notarization, the notary will guide you through the process and witness your digital signatures in real time.
Tips for a Smooth eClosing Experience
Ask Questions Early: Don’t wait until the last minute to clarify confusing terms or figures.
Check Compatibility: Make sure your device and browser are compatible with the eClosing software.
Test Your Connection: Run a speed test to ensure stable internet access, especially if using video for notarization.
Keep Your Schedule Open: Give yourself ample time, even though eClosings are usually faster than traditional ones.
Conclusion
Whether you’re closing your loan through a hybrid or full eClosing, being prepared makes all the difference. From understanding the process to checking your tech setup and reviewing documents in advance, these steps ensure a smooth and efficient closing experience. As the mortgage industry continues to digitize, mastering the eClosing process is not just a convenience—it’s becoming the new standard.
