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Home » Store » Technology » CFPB eClosing Pilot Reveals Need for Greater Coordination Among Closing Process Participants

CFPB eClosing Pilot Reveals Need for Greater Coordination Among Closing Process Participants

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Technology

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Among the findings of the eClosing pilot project run by the Consumer Financial Protection Bureau is the need for greater coordination and cooperation between lenders, technology vendors and settlement agents, pilot participants revealed this week. Speaking at a CFPB forum to announce the results of the bureau’s recently concluded eClosing initiative, Jim Connell, chief information officer for Sierra Pacific Mortgage, said one of the biggest lessons his company learned was the importance of coordinating with the settlement agents. “We had already passed...
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