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Thursday, August 16, 2007

Electronic Closing

In order to reduce paper use and keep everything green, it is important that all data be maintained without it having to be printed and stored in file cabinets. Some things are already stored that way but electronic closing on mortgages is just now using that path. Encomia is trying to get all the mortgage lenders to convert to this time saving and resource saving electronic closing system. In the traditional paper-based mortgage process, loan documents are created, executed, and stored as paper files. In the eMortgage and process with electronic closing, loan documents are converted to an electronic format known as a SMARTDoc. We just need to get the word out!

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