What You Need to Know About eClosing and It Benefits

Keeping up with digital advancements is critical, and not just for businesses. As consumers strive to get the most done in the modern, fast-paced world, they can hardly discount the value of tech solutions. This has further been highlighted by the global Covid-19 pandemic that changed many aspects of daily living. While real estate may have seemingly lagged in its digitization, it is among the transformed industries today. This is especially with virtually every process available online as eclosing continues to become the norm. Read on to learn about eclosing, its benefits, and why it continues to gain popularity. 

What is eclosing?

Eclosing or electronic mortgage closing is the process of closing a mortgage through a secure digital environment. This means, unlike the traditional approach, the parties involved don’t have to be in the same physical space for the closing to be achieved. All the mortgage closing documents are accessed and processed electronically.

As the trend continues to gain traction, lenders are increasingly adopting the approach, although they don’t all offer the same digitization degree. The most common eclosing options include:

  • Hybrid eclosing: The approach combines traditional paper and pen and electronic signatures. This means some aspects of the process are digitized while others remain in person. As such, the borrower and the notary public must be in the same space to facilitate the process.
  • Full eclosing: The method is becoming a favorite among borrowers since it cuts the in-person meetings. All the documents are accessed, signed, and processed electronically. The documents can be notarized in person, or for a fully digitized approach, through remote online notarization (RON).

The eclosing approach benefits all the parties in real estate transactions, delivering notable benefits including:

Faster process

Errors can drag the closing process since a missed signature or wrong information means you must revisit and rectify. This becomes much more challenging if you have to reschedule to a later date, such as when traveling. The eclosing process reduces the room for errors. The error detection and notifications, such as if a signature is missing, allow you to do more in one session, speeding up the closing process.

The speed means the lender and other parties can complete more transactions within a short window. As a borrower, this offers an edge as you can complete the transactions faster, which improves your buying power.

Cost friendliness

Eclosing eliminates most, if not all, paper and pen costs. This includes printing, signing, and securing the documents considering the many risks such as fire and water. Besides the papers, the process lowers costs such as commuting. Other savings, such as on notarization with RON, further makes the process more cost-effective.

Lenders don’t incur significant overheads managing the closing process and beyond. This makes their services more affordable. Notarizations, as the notary public can switch from one client to the next in a few minutes, makes their services more affordable considering economies of scale. Such savings benefits every party, a top reason eclosing’s popularity continues to hit new highs.


Flexible hours: who doesn’t yearn for it? Eclosing facilitates flexibility since your schedule doesn’t have to take a hit to accommodate needs such as commuting. The services are easily accessible from anywhere and almost around the clock. Such flexibility makes it easier to keep up in the modern, fast-paced world where our schedules leave us stretched too thin.


Electronic processes, facilitated by audio and video technology, mean you can close from the comfort of your office or home. You only need an internet connection and a reliable device to manage the process. You can start and complete the process within a short window. This is such as during your lunch break, convenience that allows you to squeeze the most out of every minute, a scarce resource we all strive to manage.

As eclosing continues to be a go-to for more consumers, lenders and other service providers can’t afford to discount the trend. Before diving in head first, understanding the tools needed and how to facilitate secure and seamless processes is critical. Selecting the right tools is especially crucial. It ensures the process isn’t characterized by vulnerabilities and inconsistencies that could frustrate the users and put them at risk. That way, you’ll offer unforgettable experiences and realize the many benefits eclosing has to offer.

Tech advancements continue to shape modern transactions. Eclosing is among the notable digital transformations in the real estate industry propelled by the demand for more online-oriented processes.



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