Lenders

Why EscrowTab?

Why EscrowTab?

EscrowTab is the only eClosing solution that can be used nationwide to sign all notarized documents and the eNote using the borrower's handwritten, forensically-verifiable electronic signature - all without any integration work from your IT department.

What are the benefits of using the EscrowTab platform?
  • ZERO integration needed - EscrowTab offers efficiency without disruption and is designed to be a truly 'plug and play' eClosing solution.
  • Eco-friendly - Title agencies and notaries can eliminate 100% of paper from the closing process - saving time, money, and trees on your next closing, all while creating happier borrowers!
  • Seamless transition - Lenders can be ready for eNotes immediately without procuring any additional technology or integrations. Lenders continue following their existing process of sending documents off to the title agency for closing.
  • Eliminate risk of human error - No missed signatures or initials on documents. Documents can be corrected immediately on-the-spot!
How is EscrowTab different from other eClosing technology solutions?
  • EscrowTab offers a comprehensive suite of services needed to facilitate eMortgages on a nationwide basis:
    • DocPrep functionality that eliminates risk of missed signatures
    • eNote creation provides lenders with tools to generate GSE-approved eNotes
    • eClosing via In-person Electronic Notarization (IPEN)
    • eVault storage offers secure, scalable, and cost-efficient storage
  • These services can be used together for a total eClosing solution, or a la carte.
  • EscrowTab's pricing is the most economical in the industry because we've built all our own technology rather than reselling other vendors' solutions.
You mentioned EscrowTab is simple... how so?
  • When working with EscrowTab-enabled title agencies and settlement companies, lenders do not need to procure any technology to move forward with eNotes and can instead spend their time focused on trading partner agreements and eNote registry integrations.
  • Title agencies can schedule a closing with a notary signing agent that has an EscrowTab-enabled tablet through several scheduling services.
  • Notary signing agents can establish their EscrowTab profiles, upload their electronic stamps, and attend a live, 30-minute training session within three days. It's that easy.
Is EscrowTab an In-Person Electronic Notarization (IPEN) solution or a Remote Online Notarization (RON) solution? Can I do eNotes with EscrowTab?

EscrowTab is an IPEN solution that captures the borrower's handwritten, forensically-verifiable electronic signature in all the same locations they sign on-paper today, and EscrowTab is the only solution that captures the borrower's unique handwritten signature on the eNote - maintaining all the value of a paper closing - without the paper.

eNote functionality includes:

  • eNote creation using EscrowTab's proprietary DocPrep service which creates the MISMO SmartDoc eNote.
  • An eVault that can be used to register the eNote and, when needed, transfer the eNote to trading partners.

The Process

How much re-engineering of our existing processes do I have to do in order to use EscrowTab?

You don't have to re-engineer your processes!

With EscrowTab, lenders can also rely on their trusted partners - the title agencies and settlement companies - to drive this process forward. Lenders simply ship docs to title agencies like they do today, allowing the title agencies and settlement companies to do what they do best - close loans. Thus, if you're not moving forward with an eNote the answer is zero. Follow the exact same process you do today and let the title agencies continue to manage the closing. If you're going to use the eNote, you need to complete integration with the MERS® eRegistry, but everything else is a light touch.

Does EscrowTab offshore its software development work?

No. EscrowTab is proudly Made in the U.S.A.

How is the final file delivered to the borrower?

After closing, the borrower will receive an email that provides access to their signed documents to download and securely save.

If the documents are remotely stored in EscrowTab's eVault, will EscrowTab always have access to all of them?

We follow the policies of the lenders, title agencies, and settlement companies with whom we work. In some cases, this may include long-term storage and in others, destruction after several days.

Are companies utilizing EscrowTab in-house or with their notary signing agent network?

Both. Some banks are also using EscrowTab in their branch offices for HELOCs.

Would we order the notary signing agent through EscrowTab?

No. Implementing EscrowTab won't disrupt your existing process for scheduling closings, including coordinating with a notary signing agent. You can schedule a closing with an EscrowTab-enabled notary through several scheduling services.

Will EscrowTab always have access to the notary stamp?

Notary signing agents are the only individuals who can access their stamps using their unique login credentials.

Fees

How are fees charged?

EscrowTab charges a low transaction fee. We'd be happy to discuss that with you after we conduct a demo for you and discuss your eClosing plans.

Technology

I use (fill-in-the-blank) software for LOS/POS/TPS/eVault ... can I still use EscrowTab?

Yes! Loan documents from any document vendor can be used with EscrowTab and there are NO required integrations with other vendor systems unless requested by the lender or title agency.

Whose eVault can I use?

The decision is yours! You can use EscrowTab's proprietary eVault or a vault of your choosing. The eNote is signed in EscrowTab's proprietary, GSE-approved eVault and then transferred to the lender's eVault or the lender's trading partner (warehouse lender, investor, etc.).

We built our eVault to exceed the highest MISMO and GSE requirements. It is secure, scalable, and the most cost-efficient storage option.

Can I use EscrowTab if I'm using a remote online notarization (RON) solution?

EscrowTab can be used alongside any other types of eClosing solutions you may choose. IPEN, and by extension, EscrowTab, is a nationwide solution, whereas RON closings are not accepted by many investors and are not permitted in several key states, including California.

Can users of the tablet do anything else on the tablet besides use the EscrowTab technology?

Not at this time. However, as we extend the software into the mobile app stores, users will have added capabilities with the tablets.

Title and Settlement

Why EscrowTab?

Why EscrowTab?

EscrowTab is the only eClosing solution that can be used nationwide to sign all notarized documents and the eNote using the borrower's handwritten, forensically-verifiable electronic signature - all without any integration work from your IT department.

What are the benefits of using the EscrowTab platform?
  • ZERO integration needed - EscrowTab offers efficiency without disruption and is designed to be a truly 'plug and play' eClosing solution.
  • Eco-friendly - Title agencies and notaries can eliminate 100% of paper from the closing process - saving time, money, and trees on your next closing, all while creating happier borrowers!
  • Seamless transition - Lenders can be ready for eNotes immediately without procuring any additional technology or integrations. Lenders continue following their existing process of sending documents off to the title agency for closing.
  • Eliminate risk of human error - No missed signatures or initials on documents. Documents can be corrected immediately on-the-spot!
How is EscrowTab different from other eClosing technology solutions?
  • EscrowTab offers a comprehensive suite of services needed to facilitate eMortgages on a nationwide basis:
    • DocPrep functionality that eliminates risk of missed signatures
    • eNote creation provides lenders with tools to generate GSE-approved eNotes
    • eClosing via In-person Electronic Notarization (IPEN)
    • eVault storage offers secure, scalable, and cost-efficient storage
  • These services can be used together for a total eClosing solution, or a la carte.
  • EscrowTab's pricing is the most economical in the industry because we've built all our own technology rather than reselling other vendors' solutions.
You mentioned EscrowTab is simple... how so?
  • When working with EscrowTab-enabled title agencies and settlement companies, lenders do not need to procure any technology to move forward with eNotes and can instead spend their time focused on trading partner agreements and eNote registry integrations.
  • Title agencies can schedule a closing with a notary signing agent that has an EscrowTab-enabled tablet through several scheduling services.
  • Notary signing agents can establish their EscrowTab profiles, upload their electronic stamps, and attend a live, 30-minute training session within three days. It's that easy.
Is EscrowTab an In-Person Electronic Notarization (IPEN) solution or a Remote Online Notarization (RON) solution? Can I do eNotes with EscrowTab?

EscrowTab is an IPEN solution that captures the borrower's handwritten, forensically-verifiable electronic signature in all the same locations they sign on-paper today, and EscrowTab is the only solution that captures the borrower's unique handwritten signature on the eNote - maintaining all the value of a paper closing - without the paper.

eNote functionality includes:

  • eNote creation using EscrowTab's proprietary DocPrep service which creates the MISMO SmartDoc eNote.
  • An eVault that can be used to register the eNote and, when needed, transfer the eNote to trading partners.

The Process

How do I know which lenders EscrowTab works with?

Since we do not require an integration into any lender systems, title agencies and settlement companies can electronically notarize documents using EscrowTab with most lenders. When the lender is interested in eNotes, settlement companies now have a solution for that as well.

Does EscrowTab offshore its software development work?

No. EscrowTab is proudly Made in the U.S.A.

How is the final file delivered to the borrower?

After closing, the borrower will receive an email that provides access to their signed documents to download and securely save.

If the documents are remotely stored in EscrowTab's eVault, will EscrowTab always have access to all of them?

We follow the policies of the lenders, title agencies, and settlement companies with whom we work. In some cases, this may include long-term storage and in others, destruction after several days.

Are companies utilizing EscrowTab in-house or with their notary signing agent network?

Both. Some banks are also using EscrowTab in their branch offices for HELOCs.

Would we order the notary signing agent through EscrowTab?

No. Implementing EscrowTab won't disrupt your existing process for scheduling closings, including coordinating with a notary signing agent. You can schedule a closing with an EscrowTab-enabled notary through several scheduling services.

Will EscrowTab always have access to the notary stamp?

Notary signing agents are the only individuals who can access their stamps using their unique login credentials.

Fees

How are fees charged?

EscrowTab charges a low transaction fee. We'd be happy to discuss that with you after we conduct a demo for you and discuss your eClosing plans.

Technology

I use (fill-in-the-blank) software for LOS/POS/TPS/eVault ... can I still use EscrowTab?

Yes! Loan documents from any document vendor can be used with EscrowTab and there are NO required integrations with other vendor systems unless requested by the lender or title agency.

Can I use EscrowTab if I'm using a remote online notarization (RON) solution?

EscrowTab can be used alongside any other types of eClosing solutions you may choose. IPEN, and by extension, EscrowTab, is a nationwide solution, whereas RON closings are not accepted by many investors and are not permitted in several key states, including California.

Does the notary signing agent need a tablet?

Yes, the notary signing agent needs access to an EscrowTab-enabled tablet. If the notary signing agent works in an office with other signing agents, a tablet can be shared.

How is the notary seal uploaded to EscrowTab?

Notary agents will provide their notary information during onboarding. EscrowTab will digitally create their stamp and upload it to their EscrowTab account.

Can users of the tablet do anything else on the tablet besides use the EscrowTab technology?

Not at this time. However, as we extend the software into the mobile app stores, users will have added capabilities with the tablets.

Signing Agents

What is EscrowTab?

What is EscrowTab?

EscrowTab is an In-Person Electronic Notarization (IPEN) solution built with notary signing agents in mind. Loan and title documents are uploaded into our eVault and assigned to an EscrowTab-enabled notary signing agent equipped with a tablet for a seamless, secure and efficient signing.

EscrowTab is the only eClosing platform that allows a borrower to sign an eNote and mortgage documents with a forensically verifiable handwritten signature.

What is In-Person Electronic Notarization (IPEN)?
  • In-Person Electronic Notarization (IPEN) occurs when the borrower and notary signing agent are in the same location and the borrower applies electronic signatures to documents.
  • A notary signing agent is allowed to electronically notarize the documents without any paper involved.
  • IPEN is a nationwide solution.
What's the Value of EscrowTab for Notary Signing Agents?

Save on the two big ones - Time and Money

  • Save $45 per closing in supplies and time
  • Use the time you would have spent to print and paper, correct documents, and drive to ship the documents to:
    • Conduct more closings and increase your income!
    • Spend more time with your or family or doing what you love!
Are you endorsed by the NNA?

Yes! The National Notary Association (NNA) has endorsed EscrowTab and is providing a variety of educational opportunities about IPEN and EscrowTab.

The Process

How soon will I recoup my ROI?

Soon! Notary clients have shared with us that within 25-40 closings, their investment in the Escrow-Tab enabled tablet has been met.

How quickly could I get a tablet to perform a closing?

In most circumstances, you can receive a tablet and be trained to perform a closing within 72 hours.

Do you provide training?

Yes of course! We offer one-hour live video trainings a couple times a week. Post-training you can reach out to us anytime for additional assistance by contacting support@escrowtab.com.

How do I get started with EscrowTab?
  1. Let us know you're interested by completing the form on our website
  2. Follow your state's guidelines to become an eNotary. Read more about this in the National Notary Association's IPEN Knowledge Center.
  3. Attend our free training session. Multiple sessions are available each week!
  4. Begin closing loans using EscrowTab and start enjoying a more relaxed lifestyle.

Fees

Is there an annual fee or just the one-time fee for purchasing the tablet?

There is just a one-time fee to purchase the tablet! Once you purchase the tablet, that's it - no additional fees!

Technology

Am I required to have a specific supported hardware to use this software?

Yes, at this time, an EscrowTab-enabled tablet is required.

When receiving the tablet, you'll also receive one Microsoft Stylus. If you would prefer each signer had their own stylus or would like a back-up, you may purchase an additional stylus here or from a retailer of your choice.

Will all borrowers be able to hold a stylus to sign?

Yes, certainly! Holding a stylus is just like holding a signing pen.

What else can I use the EscrowTab tablet for?

The tablet is designed exclusively for the EscrowTab app and is in kiosk mode, meaning that no other apps or software can be downloaded.

If you would like to use the tablet for non-real estate transactions, please contact support@escrowtab.com.