Fairway Independent Mortgage Corporation Increases Its Use of Digital Closings [Yahoo! Finance]
Federal National Mortgage Association (FNMA)
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Source: Yahoo! Finance
Power 2023 U.S. Mortgage Origination Satisfaction Study, is now the top user of digital closings among independent mortgage banks in the industry. Fairway defines digital closings as any involving a digital or electronic signature, and the company is now the top independent mortgage bank for eMortgages for purchase transactions with Fannie Mae and Freddie Mac. "85% of all closings with Fairway have a digital component," said Teri Pansing , Fairway's SVP of Corporate Closing. "Fairway has completed more than 150,000 digital closings. Our goal has always been to provide the best-in-class closing experience. We continue to innovate digital closing alongside the in-person experience aspiring for the very best." Fairway has calculated that by digitizing the signing packages in closings, it has eliminated the need for more than 6 million pages of paper, thereby saving 685 trees and reducing the amount of time borrowers need to spend at the signing table by more than 85,000 hours. "
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