FAQ Page

What are E-Closings?

An E-Closing is the electronic execution of some or all closing and/or mortgage loan documents in a secure digital environment. E-Closings allow for a more efficient and streamlined closing experience for buyers, sellers, lenders, and third parties. E-Closings can be a hybrid paper and electronic process.

What are Hybrid E-Closings?

Hybrid e-closings are those closings in which most of the documents are digitally signed, and a few are wet signed. Key documents such as the promissory note and security instrument can be printed to paper and wet-signed, while other documents are signed electronically. Hybrid E-Closings are mostly used with transactions involving third-party financing. Hybrid closings provide its users the efficiency of digital closing, with a few wet-signed documents. This can be a more efficient way of completing transactions when a loan is involved.

Why would I need to do a Hybrid E-Closing instead of a full E-Closing on a Transaction with a Loan?

Many issues currently limit the industry from completing full E-Closings when a loan is involved. Compliance issues, limited secondary market investors, geographic area of the transaction limiting E-Recording, local laws limiting remote online notaries , lender capabilities with E-Note and E-Vault functionality, Title Company and Lender having compatible approved technologies. A fully E-Closed transaction can occur even if a loan is involved if all of these items line up correctly and these issues will become less and less problematic in the next few years.

What are the full E-Closing Limitations with a Cash Transaction?

If the transaction is all-cash than you can complete a fully E-Closed Transaction with less limiting factors. Limiting issues like “Does my state allow Remote Online Notaries?” and “Does the county the property is in allow E-Recordings?” become the only hurdles to overcome. States are very quickly adopting laws allowing RON transactions and most high density counties have E-Recording capabilities. So the potential for a fully digital transaction is better when the transaction is an all-cash transaction.

What are the benefits of E-Closing a Real Estate Transaction?

  • A more efficient Closing Process.
  • More convenience for the Buyer, Seller, and the Lender.
  • A more streamlined cleaner closing process.
  • A more efficient and streamlined process results in faster funding.
  • Reduces the risk for manual errors in missed signatures.
  • Better overall data quality.
  • A better validation method utilizing new technology for fraud prevention.

What States does Rift Title Operate in?

Currently Rift Title is licensed in Texas.

What Counties does Rift Title Operate in?

Rift Title operates in all Counties within Texas.

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