DocuSign: How SimpleNexus Delivers a Better Mortgage Signing Experience
Overall, modern consumers expect to have digital interactions with businesses. Borrowers are already using web technology and apps to purchase a range of other properties and they expect the mortgage experience to be similar.
A recent DocuSign study found that borrower attitudes toward e-mortgages are overwhelmingly positive and customers are very comfortable engaging digitally. Digitizing the frustrating, thick stack of paperwork that borrowers have long complained about and replacing loan application forms and the manual signature process with a more streamlined, user-friendly and easy-to-complete digital package will be a big differentiator for the modern mortgage customer. 100% of survey respondents agreed that the ability to provide borrowers with an online closing experience has a direct impact on overall satisfaction with the mortgage experience.
Some lenders are unable to offer a 100% digital mortgage experience. Its good. While a fully digital experience may be the ideal endpoint, it’s an improvement to break the process down into its component parts and digitize the mortgage journey one step at a time.
SimpleNexus founder and CEO Matt Hansen first recognized the opportunity to improve the home buying process when he agreed to help a family member grow his mortgage business. Hansen created a simple app over the weekend for his brother-in-law to perform loan calculations and include contact information. Within weeks, other creators saw the product and requested their own version of the app to share with borrowers. It has since grown into a leading digital mortgage platform that provides a better home buying experience for loan officers, borrowers, and realtors.
Read on to hear Hansen explain why SimpleNexus decided to partner with DocuSign to integrate eSignature into its homeownership platform.
What made SimpleNexus consider adding an electronic signature solution to your platform?
Our customers have asked us to create a better experience for signing electronic disclosures. We decided to solve this problem for our clients and integrate this workflow into our home ownership platform.
Why did you choose DocuSign eSignature?
We chose DocuSign because electronic signature is their core competency. DocuSign is a trusted brand with consumers and they were ready to partner to create a great integrated experience for our customers.
DocuSign helps customers sign faster, but it also helps our customers spend more time supporting their customers instead of chasing signatures and statuses. DocuSign provides an integrated, seamless electronic signature infrastructure to help customers manage their loan pipelines, order credit, manage pricing, send pre-approvals, sign disclosures, and execute eClosings, all moving. Together, DocuSign and SimpleNexus provide borrowers with a single sign-on experience, from home search, to application, to document upload, eClose and beyond, for a smoother journey to homeownership.
Describe the process of working with DocuSign to build the integration. How long did it take to launch the integration? How was the experience of partnering with DocuSign?
DocuSign approaches partnership as a two-way street and working with Docusign was quite straightforward. DocuSign offers a robust API that allowed us to easily integrate the eSignature technology and experience into the SimpleNexus platform.
We had access to API documentation and received technical support throughout the process. We were able to complete the integration without a ton of help from DocuSign. I believe our first release took about three months to complete.
The integration allows for a single sign-on for the borrower so they can go from applying for a loan, to sharing data and documents, to signing without ever having to leave the technology and experience they have. ‘he knows.
What results have you seen since launching the integration?
We reduced turnaround time for electronic disclosures from 2.5 days to 2.7 hours on average. Additionally, since we leverage our mobile platform, we allow loan officers to be able to respond to multiple signature requests on the go. This increases their productivity as they do not have to log into their Loan Origination System (LOS) as they previously had to sign statements. Our partnership with DocuSign has been a big part of our success and has made a difference in the lives of our customers, their customers and our employees.
DocuSign helps us stand out from our competitors. We are able to truly focus on people and deliver the best business experiences by serving our staff, clients and their customers wherever they are, and as quickly and confidently as they need to close deals. business. This helps us continue to grow and provide our customers with the personal transactions and customer experience with security they deserve. DocuSign has contributed to our growth by becoming an industry leader. DocuSign is a game changer, but DS+ SimpleNexus is a 10X game changer.
Do you have any best practices or recommendations for other organizations considering integrating e-signature into their platforms?
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