First American Title, Taylor Morrison Complete 500 Hybrid E-closings
May 21, 2019
First American Title Insurance Company and national builder Taylor Morrison Home Corporation recently completed 500 hybrid electronic closings using First American’s eClosing solution. The hybrid e-closings took place in Arizona, California, Colorado, Florida and Texas.
In a hybrid e-closing, homebuyers can review and e-sign many real estate transaction closing documents from a computer at home or on a mobile device in advance of the closing appointment, while some documents must be wet signed in person at the appointment.
“After more than 500 completed hybrid e-closings, we’re consistently seeing closing appointments reduced to an average of 20 minutes and home buyers are grateful for the ability to preview documents in advance and to have a shorter, more convenient signing event,” said Joe Tavarez, president at First American Title’s Homebuilder Services Division. “Equally important, lenders appreciate the ability to offer home buyers the convenience of a hybrid e-closing with minimal process changes and no additional fees. We expect to aggressively ramp up hybrid e-closing transaction volume in the months ahead.”
First American’s e-closing solution includes a mobile interface, consumer-document preview, digital scheduling for mobile notary meetings, consumer appointment confirmation, and eSignatures for hybrid e-closings. The solution will also manage “eVault-ready” loan documents, including fully executed e-notes, and is ready to support a lender’s MERS eRegistry and eVaulting workflows.
“We can offer our customers a new level of service, transparency and peace of mind by allowing them to preview their closing documents in advance of the close date. The speed and simplicity of e-signing exceeds customer expectations as they complete the final steps in their home buying journey,” said Tawn Kelley, president of financial services and executive vice president at Taylor Morrison.
Contact ALTA at 202-296-3671 or [email protected].