Digital Risk quoted in WSJ

Digital Risk’s Housing Survey quoted in Wall Street Journal’s Jumbo Journal column

Digital Risk’s  Homeowner Survey was recently quoted on the Wall Street Journal’s Jumbo Jumble column in the article titled “Mortgage Closings Just Took a Big Step Into the Digital Age” talking about fully remote and paperless closing and how a Chicago couple closed a home loan from a Michigan lender using a Virginia notary public, all from a laptop!

The closing two weeks ago, allowed the couple to close a loan from a lender in Michigan from their home in Illinois, working with a notary public in Virginia—all completely online, using a webcam and executing all documents digitally. The closing on the $290,000, 30-year, fixed-rate mortgage took place at the couple’s kitchen table and took only a half-hour!

But eMortgages are not for everyone. Many borrowers are still uneasy about using technology to eliminate paperwork. According to a survey of 1,057 homeowners and 509 renters conducted between May 26 and June 2 by compliance firm Digital Risk, 70% of homeowners and two-thirds of renters stated they wouldn’t be comfortable managing the mortgage process via a smartphone.

Read the full article here.

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