DocuSign Rooms for Mortgage Accelerates Visio Lending's Loan Funding
AUSTIN, Texas, Nov. 10, 2020 /PRNewswire/ -- Visio Lending began using DocuSign Rooms for Mortgage in early 2020 in an effort to improve customer experience by significantly reducing the time it took to release funds.
Prior to implementing Rooms, the various steps leading up to funding simply took too long—waiting for notaries to mail in wet documents took several days and QCing (which involved confirming that signatures were in the right places) took hours. It was a negative experience all around. Now that documents are uploaded to Rooms and can be QCed directly in the platform, the bottlenecks are gone and the experience is a smoother and faster one.
Key Metrics for Implementing DocuSign Rooms
- 89% reduction in time to fund loans. Reduced from an average of 4-7 days down to 4-24 hours
- 99% signature accuracy in loan documents
"We were concerned about the amount of time it took to fund, which was tied to how long we were spending QCing documents. Those were the problems that we were solving with Rooms for Mortgage," David Seholm, director of software development and IT at Visio, explained. "The first loan we funded using Rooms for Mortgage, we funded inside of an hour. We blew any expectations out of the water," he said.
Though the COVID-19 pandemic has accelerated the push toward a more digitally enabled closing process, it was a long time coming, according to Seholm. "Companies were supposed to have started accepting e-signatures about 15 years ago, per the federal government. DocuSign is uniquely positioned to put pressure on stalwart companies that are refusing to accept digital signatures. As that pressure is exerted, it's going to become the industry standard," Seholm said. As customer expectations evolve, Visio Lending is ready to serve them.
About Visio Lending
Visio Lending is the nation's leader in rental home financing. Founded in 2012 in Austin, Texas, Visio enables small- to medium-sized investors to grow their portfolios of rental homes. Bringing together Main Street and Wall Street experience and a laser-like focus, Visio's team is enabling the redevelopment of affordable rental homes across the country. With more than $340 million in warehouse capital, a proven track-record on Wall Street, and an outstanding 75+ team, Visio is poised for rapid growth in 2020 and beyond.
For more information, visit visiolending.com.
Contact
Hannah Lapin
Senior Demand Generation Manager at Visio Lending
Email: [email protected]
Office: 512.334.1505
SOURCE Visio Lending
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