Not every digital closing solution offers the functionality necessary to meet your needs. Here are 25 questions to ask when evaluating a digital closing provider.
Category: business results
- What is the average percent of eClose adoption (wet, hybrid, eNote, RON) across your customers?
- What are the average cost savings your customers achieve per loan?
- What is the improvement your customers see in time (days) to close a loan?
- What improvements have your customers seen in terms of borrower experience (NPS)?
- What is the average error rate on closing packages?
Category: technology features
- Can your solution integrate with my tech stack (LOS, TPS, Doc Prep, eVault, etc.)?
- What other integrations do you have available?
- How does your technology support different county, state, and investor requirements?
- What features/capabilities have you developed to improve borrower experience?
- How have you utilized AI to reduce errors and/or manual workflows?
- How is important information shared between lender, settlement, and borrower (e.g., appointment status, closing documents, notary details)?
- Are there any loan types that your solution doesn’t support?
- Are there any edge cases that your solution doesn’t support?
Category: customer support & implementation
- What does your customer support model look like?
- How many lenders and settlement companies are currently putting closings through your solution?
- What is the average time to first live loan?
- What is the average time to full eClose adoption?
- What does your change management support/process look like?
- How do you ensure stakeholder adoption (loan officers, settlement agents)?
- What are your adoption rates (opt-out) for settlement agents and borrowers?
- What training resources do you provide to loan officers and settlement agents?
- What resources do you provide to help borrowers who are unfamiliar with digital closings?
- If/when issues arise, what support do you provide and is there a service level agreement (SLA) in place?
- What resources do you provide to help identify which investors accept digital closings?
- How do you help lenders understand their portfolio’s digital eligibility (how "e" each loan can be)?
- Do you have any current customers that I can talk to?
