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Three things to do before closing: What we learned from studying eClosing

Today we’re releasing the results of a pilot program where we explored tools and process changes that can help consumers better navigate closing by accessing and signing their closing documents in different ways. Specifically, we examined what would happen if there was more technology involved in the mortgage closing process, with documents being delivered electronically earlier together with online tools and resources. The electronic delivery and signing of closing documents using electronic signatures is sometimes referred to as eClosing.

Take more control over the mortgage closing process with technology

We asked you to tell us about pain points in the mortgage closing process and through this research and interviews, we’ve heard about four major pain points. We’ve got some ideas for how technology can improve the process and we’ll test them to put you in the driver’s seat of your mortgage closing. Read more about the current pain points and our e-closing pilot solution.

Published Category: At the CFPB

Live from Washington, D.C.

We’re holding a forum to discuss the mortgage closing process at 2:30 p.m. EDT. The event will feature remarks by Director Richard Cordray and Housing and Urban Development Secretary Shaun Donovan. The forum will also include a panel discussion with CFPB staff, consumer groups, and industry representatives. We’re livestreaming the event so you can follow along. Watch the livestream of the forum.