LemonBrew Makes New Advancement Toward True Contactless Closings
CHARLOTTE, N.C., June 4, 2020 /PRNewswire/ -- LemonBrew Technologies is an innovative, full-service real estate platform that streamlines the real estate process from start to finish. By providing real estate, mortgage and title services, LemonBrew is an end-to-end digital solution that connects home buyers and sellers to local real estate agents, finds the perfect mortgage, and closes smoothly and seamlessly.
Today, LemonBrew Abstract, the title & escrow vertical of LemonBrew Technologies, announced further advancements of its free, contactless, proprietary electronic ACH transfer platform called LemonBrew Pay.
The digital platform enables home buyers to securely send earnest money deposits and refinance borrowers to send their closing costs from any U.S. financial institution directly to LemonBrew's escrow account all without leaving the comfort of their home. The no-cost solution, which is fully electronic, secure and compliant, furthers LemonBrew's mission of bringing transparency and innovation to a friction-filled real estate process.
Since the client is not sending a wire, a process which has recently come under scrutiny due to phishing scams and fraud, there are no account or routing numbers being shared. With bank-level encryption, the transaction takes 2 to 3 business days to complete.
"The LemonBrew Pay platform is relevant more now than ever before. Not only does our free service save money and time, but by skipping the trip to the bank, we've eliminated the need for any face-to-face interaction. Homeowners take advantage of the historically low mortgage rates while still maintaining social distancing rules. It is truly the last piece of the puzzle in a digital and contactless mortgage and closing experience," says Amit Doshi, COO of LemonBrew Technologies.
The system also sends out real-time notifications via email letting all parties involved know exactly where the funds are at all times. Currently being used exclusively by LemonBrew Abstract, the platform has already processed over $2,500,000 in transaction volume since launching earlier this year. As LemonBrew expands across the nation and adapts electronic notarizations, it has made a commitment to continue to develop technologies to create efficiency, save money and reduce stress in the real estate transaction.
"The concept of the digital mortgage and digital closing has been around for a while now," says Doshi, "but it always ended with the client having to go to the bank to get a certified check. With LemonBrew Pay, the full home buying or refinancing journey can actually be digital."
About LemonBrew Technologies
Built by experienced entrepreneurs and operators in the real estate and mortgage industry, LemonBrew is at the intersection of technology and purpose, filling the gap in the real estate market by providing an end-to-end digital solution allowing home buyers and sellers to connect with real estate agents, find the right mortgage, and close smoothly. Positioned to be an industry leader with innovative technology, LemonBrew was named a 2020 HousingWire Tech100 Real Estate Winner.
For more information about LemonBrew, email [email protected], visit lemonbrew.com, and follow us on Facebook, LinkedIn, and Instagram.
SOURCE LemonBrew
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