Spotlight on Post Closing

Posted August 19, 2019 by Amber Hanneken & filed under Simplifile News, Tips

Simplifile Post Closing is an important step in implementing a completely digital and automated closing workflow for lenders and settlement agents.

Because Post Closing seamlessly integrates with Simplifile E-recording, lenders have visibility into when settlement agents submit documents to the county. Lenders then receive estimated return time and fees and get status updates for recording or rejection. Note: Even paper-recorded documents can be uploaded and shared with lenders.

After e-recording, Post Closing offers immediate lender access to recorded documents and actual fees, and the title policy can be delivered quickly through the Simplifile platform.

For settlement agents, using Simplifile to return final documents and fees to lenders can mean saved time and money over manually returning final documentation or dealing with lender portals.

For lenders, it can mean no longer facing slowdowns or expenses related to final fee errors, missing proof of recording and trailing docs, or hold backs from undelivered mortgages.

All post-closing tasks are handled with a single login and using the familiar Simplifile interface.

Here’s how it works:

  1. Lender creates a record with Simplifile and indicates if paper originals are needed.

  2. Settlement agent is notified of record creation via email.

  3. Settlement agent e-records and recorded docs and data are returned to the lender.

  4. Lender can retrieve (manually) or Simplifile can deliver (via integration).

  5. The settlement agent is prompted to upload the final title policy.

If you are a current Simplifile customer and would like to add Post Closing to your workflow, simply contact your account manager or 800.460.5657. Otherwise, click the button below to learn more.

Learn More: Post Closing