Real estate and mortgage firm Redfin has begun offering fully-digital mortgage closing following a successful transaction this month.
The firm, which set out to shake up the real estate brokerage model with fixed fees and a tech-driven service, entered the mortgage space last year with Redfin Mortgage.
Earlier this month it completed its first fully-digital mortgage loan closing for a homebuyer in Texas and has seen a growth in interest since with it expected 10% of Redfin Mortgage’s November closings to be fully-digital.
In partnership with digital document signing platform Notarize, Redfin will offer online closings through its title and settlement company Title Forward and its Redfin Mortgage business.
“Redfin is using technology to improve the entire homebuying process from initial home search, to mortgage application and approval, to purchasing and now closing on a home purchase,” said Jason Bateman, head of Redfin Mortgage. “For homebuyers, this means you can choose the time and place to sign your documents, whether that's from the comfort of your couch or on your phone in the moving truck outside your new home.”
Notarize founder and CEO Pat Kinsel, says that Redfin’s customers are already accustomed to a digital, mobile product.
“No longer do customers have to leave work, find a babysitter, coordinate schedules or travel to ‘The Closing.’ Our technology integrates to seamlessly to deliver an easy, intuitive experience, so that buyers can get on to moving and unpacking boxes in their new home,” he said.