State of Digital Mortgage eClosing Adoption: From Base Camp to Summit

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19 April 2022


Despite the rapid growth of digital automation with digital point-of-sale solutions, loan origination systems, automated underwriting, and data aggregation, the adoption of mortgage loan eClosing (see Terminology table in this section) technology has been slow until recently.The eClosing vision is two decades old, but the complex interplay of federal, state, and county regulations; huge data requirements; and incomplete technology solutions previously held back progress. The US mortgage market has now caught up with the vision!

Advances in data management, systems integration, cloud technologies, industry collaboration, and regulatory progress have made eClosing solutions a must-have technology. In 2022, system adoption has moved beyond early adopters and other technology pioneers to the early majority of lending technology innovators.Opportunity for dramatic improvement in the loan closing process is now happening and the road to lender success and customer satisfaction is much clearer.

in this survey report, we asked mortgage executives about their knowledge/perceived value of eClosing, the relative importance of eClosing technologies relative to other technology, lender closing process readiness for digital transformation, current and planned use of eClosing IT, current and planned IT spending on eClosing technologies, and anticipated benefits.