LOAN OFFICERS

Go digital for a competitive advantage at closing in your market!

What is eClose assist? eClose assist allows for a limited amount of documents to be signed in the presence of the Notary or Settlement Agent with the remaining of the closing package to be electronically signed from the borrower’s personal device.

For any questions, email us at eClose@fairwaymc.com

Key Points for Loan Officers

Successful eClose transactions is all about setting the expectations.
Both parts of the signing need to happen on the same day.
In Encompass, on the Origination Summary Screen, update your closing type to either eClose with eNote or eClose Hybrid.
Communicate with your borrower that eClosing will happen in two parts- the wet sign and eSign portion.
eClose with eNote
FOR CONVENTIONAL LOANS
This is a hybrid closing solution. There will be a small portion of the closing documents that are wet signed and the bulk of the closing documents are eSigned. The eNote is also electronically signed. (see image)
eClose Hybrid
FOR GOVERNMENT LOANS
This is a hybrid closing solution. There will be a small portion of the closing documents that are wet signed and the bulk of the closing documents are eSigned. The eNote is also wet-signed. (see image)

Downloadable Assets

Loan Officers FAQ

Only applies if borrower is not using eClose assist

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What to Expect for Borrowers
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What to Expect for Loan Officers
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Requirements

  • Borrowers must have a smartphone, tablet, laptop or computer available to them in order to utilize this option. Fairway’s eClose team will contact borrower on signing/closing day to facilitate the eClosing portion.
  • Electronic documents can be signed anytime between the date of the documents and the funding date.”
  • If you would like to move forward with an eClose assist, reach out to eClose@fairwaymc.com and provide the following information.
    Note: Include in email subject line “eClose Assist” and in the body of the email please include the items below:
  • Fairway Loan Number
  • Borrowers First and Last Name
  • Best Contact Number for Borrower
  • Settlement Agents Name and Email Address
  • Date and Time of Closing (Include Time Zone)
SnapDocs Borrower Experience

Frequently Asked Questions

Q: What training is required for my Settlement Agents to eClose with Fairway?

There is no training required to get started. Settlement Agents will receive the eSigning instructions in their closing package to access and sign the electronic documents.

Q: What equipment is required to eClose?

The borrower will need access to a tablet, laptop, desktop or mobile device with a secure internet connection and a web browser.

Q: What do we need to do to get started?

Identify eligible loans and update the closing type on the Origination Summary screen in Encompass.

Q: Can I eClose if a mobile notary is being used to facilitate the closing?

Yes! Mobile Notaries will have access to the electronic documents through the link/QR code provided in the closing package to facilitate the eSigning.

Q: Who decides if a transaction should close as eClose?

Loan Officers are encouraged to discuss eClose preferences with borrowers and make the SettlementAgent aware.

Q: How soon can I start eClosing?

eSigning is live and available in all 50 states!

Q: At what point is it to late in the process to switch to eClose?

Anytime prior to closing documents being drawn, you can notify your closer and update closing type inEncompass.

Q: Is there a cost to the branch per e-close?

There is not a cost to the branch, Settlement Agent, or borrower to eClose.

Q: Can we eClose both purchase and refinance transactions?

Both Purchase transactions as well as Refinance transactions are eligible.

Q: For funding purposes, will the eSigned documents automatically upload into Encompass?

Documents automatically drop into Encompass once they are fully eSigned.

Q: Can my borrower e-sign their documents from their phone?

Yes!

Q: Where can I get information to share with my Real Estate Agent and Settlement partners?   

Go to the mortgage technology page for resources and fliers that can be uploaded to FairwayMyWay and customized.

Fairway Independent Mortgage Corporation
4750 S. Biltmore Lane | Madison WI, 53718
P: 855-981-8149

Complaints may be directed to:
Tel: 877-699-0353
customerservice@fairwaymc.com

© 2020 Fairway Independent Mortgage Corporation. All rights reserved.NMLS Entity ID #2289