Wyndham Capital Mortgage, a direct-to-consumer mortgage lender, today announced that it completed its first fully online digital closing with Notarize, the first company to enable an entirely online mortgage closing process. The borrower, who was located in Virginia, was able to complete the closing from the comfort of his own home, entirely online.
“Our first closing went as smooth as it could have gone with Notarize,” said Daphne Beumer, Director of Closing and Post Closing at Wyndham Capital Mortgage. “As soon as the closing was complete, I emailed our executive team saying we needed to expand this offering to as many states as we could. This truly changes the dynamic of the traditional closing.”
Having been an early adopter of hybrid closings – the ability to eSign documents ahead of the closing meeting and meet with a notary in person – Wyndham saw the opportunity to truly build an end-to-end digital experience, and offer fully online closings. Empowering borrowers to close on their home 100% online dramatically shortens the time it takes to close, and eliminates the errors and headaches associated with paper closings.
“From an operational perspective, it makes things much easier,” said Beumer. “If you can eliminate the extra time and hassle that comes with coordinating a closing, why wouldn’t you go fully digital? It’s a no-brainer.”
First American predicted earlier this year that 65% of the real estate industry would adopt remote online notarization or digital collaboration tools, and we’re seeing that adoption ring true at Notarize. To date, Notarize has helped people buy and sell more than $8 billion in real estate—entirely online.
“Wyndham has been an incredible partner to work with,” said Notarize Founder and CEO Pat Kinsel. “To truly be the modern mortgage company, companies need to use technology to make the last mile of the closing better. We believe that Wyndham, along with its partner Silk Title & Escrow, are leading the charge, and setting the bar high for the rest of the industry on how to make the home buying experience better.”
Notarize is the first platform to empower thousands of people each day to sign and notarize documents online. From adopting a child to buying a home, Notarize builds trusted products and services that support life’s most important moments. As the first company in the country to enable fully online real estate closings, Notarize is used by more than 2,000 title agents, the fastest-growing national lenders, and has helped people buy and sell more than $8 billion in real estate—entirely online.
For more information on our mission, visit notarize.com.