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Technology has been uniquely poised for more than 15 years to transform the time-consuming and paper-centric process of closing a mortgage, but it’s taken a major event — a global pandemic — that requires physical distancing to really get things rolling. The coronavirus-induced restrictions for personal contact have created demand for an electronic closing, or e-closing, rather than meeting in person.

Consequently, the lending mindset has shifted to move mortgages online, to find creative solutions for notarization and to eliminate paper, as borrowers don’t want to risk health or safety to purchase or refinance a home. Originators, lenders and title companies are faced with a major uphill battle to put all the pieces in place.