Be sure to watch the entire episode located below the show notes.
It's been said many times in the last few years that the current mortgage lending process is ripe for disruption. Solarity Credit Union's President/CEO Mina Worthington reiterated that point in our talk on how Solarity has become an early adopter of a fully online home loan closing experience.
Mina and Solarity Vice President of Home Loans and Chief Revenue Officer Ralph Cumbee joined in, as well, to share their insights on their successful digital mortgage lending process and how its slowly streamlining age-old methods that benefit both the credit union and their members.
As part of the Solarity’s eSigning Experience, members receive the closing documents beforehand, which gives them plenty of time to review the details and ask any clarifying questions.
During the eSigning Experience, the escrow company and real estate agent are invited to join the video conference with the online notary and borrower as they sign and notarize the documents. Borrowers are able to move through this process quickly by simply clicking through a file they’ve already reviewed.
To date, Solarity has closed more than 100 loans using the digital channel.
Check it out and let us know your thoughts. And be sure to watch the entire interview below for all the details.