Stewart Completes Fully Digital Online Closing in Texas
July 19, 2018
Stewart announced the completion of its first 100 percent paperless, fully-digital real estate transaction with Georgetown Mortgage LLC in Texas.
The closing was completed by Stewart’s office in Katy, Texas.
“Completing our first remote, fully-digital purchase transaction in Texas supports Stewart’s continued innovative and leading approach to improve the real estate transaction process," said Matt Morris, chief executive officer of Stewart Information Services Corp. “Given the increasingly busy and mobile nature of our customers, we continually look for ways to simplify the complex, and are committed to driving improvements to the process to enhance the customer experience in the manner that they are most comfortable with.”
All lender and title closing documents were executed electronically leveraging the Notarize Closing portal. This closing culminates more than a year-long effort by Stewart, Notarize and industry partners to work to get a bill passed in the state allowing webcam-based closing. The law went into effect July 1.
“Online closings can’t happen in a vacuum: it requires trusted partners who are committed to innovation plus best-in-class technology to deliver an end-to-end paperless mortgage,” said Pat Kinsel, CEO, Notarize. “We strongly believe that buying and selling a home 100 percent online is the future, and we’re excited to power the very first online closing in Texas.”
Michael Jones, CFO of Georgetown Mortgage, added "An in-person closing will always be an option for consumers, but the added convenience of closing anytime, anywhere will be a solution to a host of scenarios that will benefit our customers, regardless of their age or generational classification. With today’s time constraints, spending several hours closing a home loan is absolutely inconvenient and unnecessary.”
Contact ALTA at 202-296-3671 or [email protected].