Mountain America Introduces Quick Close Paperless Mortgage Closings
Company now offers an eco-friendly alternative to traditional paper-based real estate closings
SALT LAKE CITY, January 31, 2011—Mountain America now offers the option for all of its Utah members to close mortgage transactions electronically. Home buyers can easily access and preapprove most of the necessary documents online prior to closing with Quick CloseSM, a paperless mortgage closing service.
“At Mountain America, we are committed to providing convenient financial solutions for our members. Each time we launch a new product, we consider whether it will make life easier and more secure and if it will help our members accomplish their financial dreams. Quick Close is a service that will do all of these, and that is why we are providing it for our members. New technologies can bring wonderful benefits,” notes Nathan Anderson, executive vice president of operations for Mountain America.
Quick Close serves as the primary communication and document delivery vehicle, where title agents, real estate professionals and lenders meet to compile the entire closing package from a secure website. Quick Close is powered by SureClose®, a paperless transaction management system developed by PropertyInfo Corp., a Stewart Company.
“Members can accomplish their mortgage closings in an eco-friendly way. With all of the documents viewable online, paper can essentially be eliminated from the process. No longer do home buyers have to sign a stack of closing documents an inch or more thick—they can sign electronically and receive all of their documents on an easily transportable flash drive. We also provide access to their documents online after closing if needed,” reports Jeanie Olsen, Mountain America’s vice president of mortgage services.
Title offices that have set up Quick Close along with eClosingRoom™, a program also provided by PropertyInfo, can close mortgages using designated computers and electronic signature capture pads. Mountain America members will simply sign any remaining closing documents on the PC and sign a digital signature pad once. That signature is then affixed to all of the closing documents.
“The eClosingRoom is seamlessly integrated with Quick Close. By giving credit union members access to review and approve the majority of the closing and upfront documents online in the convenience of their homes, the time required at the closing table is drastically reduced,” says Nancy Pratt, director of business development for PropertyInfo Corporation.
Mountain America Credit Union has over 60 branches in four states and offers a variety of financial products and services for consumers and businesses. With roots dating back to the 1930s, Mountain America Credit Union is a tradition for many members. Today the credit union serves more than 347,000 members and has over $2.8 billion in assets. Mountain America Credit Union has been honored four times as one of “Utah’s Best Companies to Work For” by Utah Business magazine. Visit www.macu.com for more information.
Stewart Title Company and PropertyInfo Corporation, a Stewart company, are wholly owned subsidiaries of Stewart Information Services Corp. (NYSE-STC), a customer-driven, technology-enabled, strategically competitive, real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries throughout the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at http://www.stewart.com or follow Stewart on Twitter @stewarttitleco.