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St. Louis, MO – January 31st, 2023 – When finding your[...]
Gershman Mortgage has launched an innovative new process for closing loans, hybrid loan closings- thus reducing time at the closing table. This new hybrid platform allows borrowers to review and sign documents digitally from the comfort of home. Now, you can review and sign documents from your computer, smartphone, or any device that has an internet browser. Taking advantage of today’s available technology enhances Gershman’s reputation for on-time closings utilizing new tools to expedite the process and get you into your home faster and with greater convenience.
While some lenders remain paper-based, Gershman has invested in innovative technology to keep up to date with the ever-changing, fast-paced environment. In addition, Gershman Mortgage has responded to the Coronavirus pandemic with respect to social distancing to make the loan process safer and easier for their borrowers. With the new hybrid platform up and running, most documents can be reviewed and signed prior to your final loan closing. The closing can be handled in less than 10 minutes with a couple of final signatures.
Unlike traditional mortgage closings, the hybrid process provides the borrower the convenience to sign most documents digitally. Having that extra time to review paperwork from home allows borrowers to read through and fully understand their documents at their own pace and convenience. The borrower has ample time to gather questions and avoid feeling rushed and pressured at closing. You can feel confident signing documents through our secure, encrypted system. A select few documents are signed in ink at the final closing. This rapid new process has brought closing times down drastically. While not eliminating face-to-face meetings completely, the hybrid process streamlines closings and expedites the process.
Benefits of hybrid closings
Accessibility – review documents from our portal as soon as the closing package is ready from your computer, smartphone, or any device that has an internet browser prior to closing
Save time – average time at the closing table is only 10 minutes
Accuracy – errors are caught immediately and flagged if there are missing signatures or compliance issues
Less stress – minimize in-person interactions during these unprecedented times
Eco-friendly – save trees by eliminating paper from the e-sign process.
Digital files are easy to store and access.
Sharon Oris, Vice President of Gershman Mortgage had this to say about the new E-Closing process:
“I’m excited to say our borrowers have been overwhelmingly satisfied with the hybrid loan closing experience. Local title companies have also been impressed because the average closing time has been reduced to 10 minutes.”
Gershman Mortgage has been at the forefront of the mortgage industry since 1955, with over 215,000 borrowers served. Gershman Mortgage is humbled to announce that 2020 marks its 65th anniversary. With over 275 mortgage professionals and more than 30 locations, the company will continue to approach the industry with ingenuity, drive, and commitment.