Borrowers want to close when and how it’s most convenient for them. ServiceLink equips lenders with efficient, best-in-class national signing solutions.
Remote online notarization (RON), in-person electronic notarization (IPEN) and hybrid signings are fueling mortgage lenders’ efforts to streamline the closing process and improve the customer experience. Those who can meet customers where they are, both physically and preferentially, will always win the day. Some borrowers may be more comfortable signing their closing documents in person, putting ink to paper, while others seek the speed and convenience of electronic solutions.
“We continue to do many traditional wet signs, but lenders are increasingly moving toward eClosings to save money (eSignings can be up to 40% cheaper than wet signs), build efficiencies into their mortgage processes, and deliver the convenient, consistent experience their customers or members want,” says Barry Coffin, managing director, origination title and close, ServiceLink.
eClosings also address logistical challenges. For example, when a military spouse is deployed, it may be impossible to arrange a timely in-person joint signing. “RON enables both spouses to sign at once, from two different locations,” Coffin says. “We’ve also encountered situations where sending a notary to the borrower’s location for an in-person signing — in a couple of cases, remote Alaskan islands — would be exponentially more expensive than an online closing.”
Working with ServiceLink, lenders can offer their customers any or all of the following options:
- Traditional face-to-face wet sign - As in decades past, a notary goes to the borrower, wherever they prefer to sign: at home, in a branch office or at any other location of their choosing. All documents are in hard-copy form, and the signing agent walks the borrower through signing every document.
- In-person electronic notarization - IPEN maintains the in-person meeting structure, with the notary traveling to the borrower, but the borrower signs documents electronically, on the notary’s tablet or laptop.
- Remote online notarization - RON is the most streamlined signing solution available, as notary and borrower meet virtually, and all documents are signed electronically. Cost and time savings can be substantial, as scheduling can be faster, notary travel is eliminated, and errors and omissions can be caught and corrected in real time, resulting in fewer issues on the back end.
- Hybrid - Hybrid closings give borrowers the opportunity to electronically sign many of their documents — basic disclaimers and other non-notarized documents — prior to the wet sign or online notarization. They limit the amount of face-to-face time, providing efficiencies for both lender and borrower. Lenders can transition from hybrid to full RON by adding digitization of the closing documents.
Why lenders choose ServiceLink’s national signing solutions
Increasingly, lenders are pulling their signing services together under a single provider to eliminate the inconsistency that can result from using multiple vendors/platforms. That kind of inconsistency doesn’t just compromise the customer experience; it can also slow down growth.
“When lenders use an established, proven process across all signings, it’s much easier to scale,” says Marc Bator, vice president, principal product manager, EXOS® Close. “You need a partner who provides not only that process and the technology behind it, but also people with the right knowledge and expertise. Our ServiceLink team brings a consultative mindset to our partnerships that has enabled us to help some lenders increase their RON signings by 500% in the first three quarters of 2024. We’re committed to helping them become comfortable with eClosings and really make the most of them.”
Best-in-class technology. Technology certainly sets ServiceLink apart. The company’s proprietary EXOS® Close scheduling solution enables the borrower to self-schedule their signing. Lenders can adopt this plug-and-play solution that lets consumers sign when, where and how they prefer.
Coffin explains, “If a lender has a platform they’d like to use, we can work with them to integrate their signing solutions into it. If not, we can share our established program, which provides auditable and compliant documentation and support, and enables the delivery and signing of all requested documents. This solution can result in substantially reduced closing times as well as cost savings, for both first mortgage and home equity transactions.”
In addition to the time savings inherent in digital closing solutions, EXOS Close reduces closing times by allowing the borrower to select the exact closing date and time of their choice. Nearly 100% of consumers select the first available date to close — typically two to three days earlier than they could have scheduled without EXOS. “We uphold the borrower’s scheduled date and time 99.8% of the time,” Coffin says. “Too many lenders tell us that other providers move dates and times, because they can’t find a notary or the notary is running late. That doesn’t happen with ServiceLink. Our signing agents are professional and reliable.”
Consistent customer/member experience. An established, proven process with a single partner ensures that every borrower, as well as the lender, gets the same high-level experience. ServiceLink’s signing process expedites scheduling the appointment, conducting the borrower-notary meeting (with eClosings taking 15-20 minutes less time than in-person closings), getting documents back to the lender and sending notification that the loan has closed — activities that require much more time and effort when multiple providers are involved.
Bator shares, “We’ve worked with some lenders who initially felt they couldn’t use EXOS Close as part of their signing solution because their other providers didn’t offer a self-scheduling option. They didn’t want half their signings scheduled one way and half another way. They ended up bringing 100% of their signings to our platform so they could take advantage of EXOS scheduling capabilities, along with other efficiencies related to having a consistent process.”
Experienced panel of professional signing agents. ServiceLink stands apart from other service providers by self-managing a panel of professional signing agents with expertise in RON, IPEN and hybrid signings, as well as traditional wet signs.
“Our mortgage notary services are provided by a vetted, established national network of 12,500+ notaries and attorneys — professional signing agents who work exclusively on mortgage real estate transactions. Their average tenure with ServiceLink is nine years; some have been with us 20 years or more,” says Coffin. “We ensure the panel’s consistent quality and professionalism by collecting customer feedback and rating each agent monthly in areas including performance, accuracy and reliability. Seeing their monthly scorecard motivates them to continue providing excellent service.”
Best-in-class performance and customer service. In fact, ServiceLink closely monitors every aspect of its performance related to signings. Ninety-six percent of borrowers who closed remotely with ServiceLink and one of its RON platform partners in 2023 rated their experience 5 out of 5 stars. This positive borrower feedback is why more and more clients are choosing to work with ServiceLink for 100% of their signings. In 2024, the customers/members of two prominent financial institutions who trust ServiceLink with 100% of their signings rated their RON, IPEN and/or traditional signing experiences 4.95 and 4.97 out of 5, respectively. One of those clients shared that, after bringing all their signings together under ServiceLink, their home equity division achieved its highest customer satisfaction score ever.
Here are a few representative comments from customers/members of these institutions:
- Amazing process. Streamlined, easy and efficient!
- Absolutely fast and simple. I should close remotely on all purchases from now on! Great job, Steven [notary] — thanks again!
- Very professional and explained each page as we went along. I felt secure in signing each page.
- Great experience with an online notary! This was our first time doing a closing this way. It was very efficient, and Melissa is very proficient at her job.
- Worked perfectly from the air-conditioned comfort of home. Fast, efficient, courteous, friendly!
- Thank you for making this so easy.
- It was absolutely a pleasure – best closing experience I have EVER had.
Another aspect of ServiceLink’s commitment to driving exceptional customer experiences are the security and fraud measures baked into the signing process. For example, ServiceLink’s digital ID verification process helps identify and deter fraud for both in-person signings and eClosings, adding increased transparency and peace of mind to the process – for borrower and lender alike. Additional security protocols include real-time threat monitoring and alerts, layered security measures and more.
Industry experience and backing. Of course, lenders need to feel confident that the signing provider and solution they’ve chosen is reliable and secure. Backed by parent company Fidelity National Financial, ServiceLink brings lender partners decades of closing experience and broad national scope. With coverage across all 50 states and Washington D.C., ServiceLink understands the regulations and requirements of each state and county and brings that expertise to every signing.
Contact ServiceLink to discover how customizable signing solutions could help your borrowers and your business.
