In the summer of 2018, Thrive Mortgage and Notarize completed the first online mortgage closing in the state of Texas. Less than a year later, Thrive has completed more than 100 online closings, and its top loan officers have done away with offering paper closings entirely. This, Spencer says, is indicative of where the industry is heading.
“Borrowers are closing on their homes in Starbucks and from their PJs,” said Spencer. “They want painless, seamless experiences that don’t require them to sign stacks of paper in person. And this isn’t just great for borrowers: it benefits our post-closing experience. Fundings went from an hour to 10 minutes or less, which means that homebuyers can get the keys to their homes faster.”
Thrive Mortgage’s loan officers are also leading the mortgage industry, with top performers committing to eClosings entirely, to meet the expectations of homebuyers in this digital age.
“We want every closing to be powered by Notarize because, in the not too distant future, we won’t be debating remote online notarization and online closings – we’ll be debating who is using those technologies to deliver the best customer experience,” said Spencer.
“We want Thrive to be leading that conversation.”