Electronic Disclosures

The newest way of saving lenders, investors, settlement agencies, and borrowers thousands of dollars is by companies starting to use what is called electronic disclosures. I think this is a great idea, not only in the amount of money it saves everyone involved but also in the amount of paperwork work it saves. Many mortage companies such as Fannie Mae, Freddie Mac, and others have started to use this process. This allows for a totally automated process when it comes to closing a mortgage, which means everything is done on the computer in a shorter amount of time then a tradition closing of a mortgage. That makes total since to me. This will eliminate the duplication of paperwork thus saving time and money.