A Landmark Milestone in Fully Digital Mortgage E-Closings

Atlantic Bay is committed to leading the pack in the digital eClosing space. And that’s why this achievement is so exciting!

Jun 03, 20212 minute read

As of the end of May 2021, Atlantic Bay is thrilled to announce that our team members have worked with borrowers to complete a landmark 10,000 eClosings!

“Offering eClosings goes hand in hand with our goal of making the borrowing process enjoyable,” says Jennifer Solis, our Vice President of Closing.

Lending peace of mind during the home loan process is a top priority when it comes to the services we offer at Atlantic Bay. And that’s why leading the way in the digital and eClosing sphere has been a major focus for our team members, even before life was pushed into a fully digital environment in 2020. (Our first hybrid eClosing dates back to 2018!)

In fact, 20% of all loans we originated in the last year were either hybrid or fully remote online notarizations (RON) eClosings!

“When the mortgage and real estate industries were facing uncertainty, low interest rates, and record high volume all at once, I didn’t have to think twice about what would happen with my business,” Senior Mortgage Banker Heather Todd reflects.

It was important to ensure that over the past year – and beyond – our Mortgage Bankers have had the tools, company backing, and support they needed to seamlessly adapt to the times. We didn’t skip a beat when everything went digital, because Atlantic Bay recognized the value of digital mortgage integrations early on.

Technological investments have been a big part of the strategy Atlantic Bay’s senior leaders have focused on over recent years, and that extra attention is really paying off in a big way – and mostly for borrowers. By utilizing a tech-savvy platform with eNote generation, integrated eVault technology, and compliant document production, we have poised ourselves as an industry-leader for eMortgage lending and a complete digitization of the closing process.

“The transfer of the note is seamless, and everything happens so much faster with an eClose package and eNote. We’re seeing the benefit on the back end with getting the loan purchased a lot faster. Instead of overnighting the paper note, we can electronically transfer the eNote through our eClose portal. It’s just a few clicks and the warehouse bank can accept the eNote within minutes,” explains Jennifer. Making sure that this process worked perfectly before it was rolled out to the masses was extremely important to Jennifer and her team.

Since implementation, we have experienced increased accuracy, quicker turn times, strict compliance adherence, better secondary marketing sell-side efficiencies, more warehouse line liquidity, and a more enjoyable user experience overall – all as a result of implementing an electronic closing option for our borrowers that includes RON. It’s a competitive advantage and carries out our philosophy of making this process as easy and stress-free as possible for Atlantic Bay team members and borrowers alike!