Guild Mortgage, one of the largest independent mortgage lenders in the U.S., has announced a secure eClose solution powered by Guilds proprietary technology and DocuSign. With Guilds eClose option, customers can choose to review and sign loan documents electronically, helping to make their experience more convenient and efficient.
Guilds compliance, operations, and technology teams partnered with DocuSign to create a custom closing experience designed to make the signing of closing documents easier and less time consuming than a traditional mortgage closing. The hybrid eClose process enables customers to sign most loan documents digitally, with a select few documents signed in ink at closing.
eClose provides enhanced security protections, while reducing paperwork. Documents are retained in an encrypted electronic envelope and accessible only upon successful user authentication. Customers have peace of mind knowing their personal information is protected.
We are committed to offering our customers a high-tech, high-touch experience that goes beyond typical digital mortgage options, said Mary Ann McGarry, Guilds president and CEO. Our eClose option combines trusted, user-friendly e-signature technology that is already widely used in the industry and the personal touch Guild is known for in order to offer a better experience.
With Guilds eClose, loan documents can be viewed as soon as they are released by Guild, empowering customers to review them whenever they choose, on their computer or mobile device and from the comfort of their home, work or on-the-go. Customers can close with confidence and ease, having had more time to review their final loan documents in advance of closing.
When the customer is comfortable with the terms, Guilds early sign option is available on most products and allows them to e-sign the majority of the documents in advance of closing, shortening their closing appointment to just minutes.
Lisa Klika, senior vice president and chief compliance officer at Guild, emphasized the security and ease of the solution, plus benefits to the environment.
In developing this platform, we wanted to provide an easy-to-use, convenient closing solution that offered enhanced safeguards for protection and security of customers data while also providing them with the benefit of more time to review their loan documents, said Klika. Our eClose option does both, while cutting down on the amount of paperwork required “ something we are very proud of.
Klika said that if all of its loans transitioned to the eClose hybrid solution, Guild would reduce paper consumption and save more than 250 trees per year.
By leveraging DocuSign, Guild was able to create a custom eClosing experience designed to maximize functionality, ease of use, and adoption. Guild customers can e-sign from any mobile device with technology now used by hundreds of millions of people worldwide, while the system uses a platform already widely adopted by Guilds settlement agent and real estate partners nationwide.
DocuSign pioneered the development of e-signature technology, and today offers the worlds leading e-signature solution as part of its broader System of Agreement Platform, said Georg Gerstenfeld, general manager and vice president of global real estate solutions at DocuSign. Guild Mortgage has leveraged our platform to build an innovative offering to accelerate the mortgage process and simplify transactions for leading real estate brokers and settlement agents. Given the millions of real estate users that DocuSign already has, were looking forward to Guild helping even more.
A top-10 national lender by purchase loan volume, Guild offers first-time homebuyers a wide range of loan options and personalized service. Its loan professionals can serve the needs of any homebuyer, from helping first-time buyers achieve homeownership, often through government loan programs, to homebuyers looking to upgrade with a jumbo loan. Guild also specializes in helping active duty and retired military personnel to secure VA loans, with 100 percent financing and flexible qualifying standards. The company is consistently recognized for its impact in the communities it serves, commitment to customer service, strength in regulatory compliance, and workplace culture.
About Guild Mortgage
Founded in 1960 when the modern U.S. mortgage industry was just forming, Guild Mortgage Co. is a nationally recognized independent mortgage lender offering a wide range of residential mortgage products and local in-house processing, underwriting, and funding. Its collegial and entrepreneurial culture enables it to deliver unsurpassed levels of customer service. Having been through every economic cycle, the company has grown 15-fold since 2007, and now has more than 4,000 employees and 344 branch and satellite offices in 29 states. Guilds highly trained loan professionals are experienced in government-sponsored programs such as FHA, VA, USDA, low down payment assistance programs, and other specialized loan programs. The company generated $15.9 billion in loan volume in 2017, as compared to $1.2 billion in 2007. In addition, Guild services more than 190,000 loans, which totaled $38.6 billion in 2017. It has correspondent banking relationships with credit unions and community banks in 47 states. Guild recently earned the J.D. Power award for Highest in Customer Satisfaction with Primary Mortgage Sales in the U.S., based on results from its 2017 Primary Mortgage Origination Satisfaction Study„ . (Equal Housing Lender “ Company NMLS #3274)