Nothing spells D-I-S-A-S-T-E-R like a missed call from your real estate broker saying you are missing a signature, therefore the closing has been delayed.
In an effort to serve the homebuyer in a faster, more efficient manner, said Inman News, more brokers have been custom-designing, buying and using web-based “transaction management systems” that allow homebuyers to buy paperless.
Inman spotlights Canadian real estate broker Rick Dubord, who has begun testing his custom-built software this month allowing him to update transactions from anywhere. It can even allow for documents to be signed electronically via Tablet PCs.
This May, Instanet launched DocBox, which can be accessed from any computer in the world with internet access, reduces document scanning and allows for unlimited emailing of any document, via PDF format to any address you choose.
In Januaury, Bank Technology News featured Hawaiian mortgage broker Donna Iwane who developed a Web application that creates loan proposals in less than a minute. Now, as CEO and founder of the eMortgEdge Corporation, developers of the 1003 Power product which can create an ARM loan in a New York nano.
And even as far back as 2005, lender Homecomings
Financial, stated it used BlitzDocs® as its web-based wholesale loan solution, processing applications from start to closing. The lender said the relationship with the broker remained intact and even the valuation process was automated. Hmm…
Undoubtedly one of the best things about this process is allowing homebuyers to access their accounts via the internet, from home or work, and check the status of the transaction. Everyone is on the same page and can see everything that is going on. Plus, with an infinite market featuring internet listings via email, online advertising and online virtual tours it makes sense the rest of the process should be online and faster.
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