Why Affinity Plus took the mortgage eClose leap

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Adopting new technology can feel like a daunting task, even when you know it’s the best thing for your business. In a volatile market, big changes might feel like the wrong move, but at Affinity Plus Federal Credit Union, we’ve found that it can also be the opportunity for growth that we’ve been waiting for.

In 2021 and 2022, during a time of unprecedented high volume, we were also working with a client base of members who didn’t feel comfortable conducting business in person as the pandemic wore on. They were openly asking our loan officers why, when they’d been able to sign preliminary disclosures online, they couldn’t do the same with closing documents. We listened to them and got to work adopting eClose. That was a pivotal decision for us that catapulted us forward, even as other businesses were struggling to maintain.

Instilling confidence and trust in borrowers

Adopting eClose gave our members more than just convenience, it showed them that we're willing to invest in technology that makes their lives easier. Knowing that we’re in their corner fosters a sense of trust between Affinity Plus and our members that is a key component of a successful, long-term lender/borrower relationship.

eClose promotes member trust because it lends transparency to the process. Members receive their documents earlier so they can look them over and make financial decisions in a time and space they’re comfortable with and ask questions before closing. This eliminates errors and brings the members into closing feeling a lot more confident. They can feel in charge of the transaction, knowing that we’re right there to help them. For members who do come into the office to close in person, that appointment is down to a ten-minute stop-in with Hybrid eClose tools.

Supporting the mortgage lending team

It may seem counter-intuitive to allocate resources to onboarding new technology during times of high volume but adopting eClose really made sense for our team. They need tools to be able to scale up and down their productivity as the market shifts and still maintain balance. In addition to the need for flexibility, our team needs to be responsive to members who are asking for a simplified lending process without losing that high-quality human interaction.

As we were onboarding eClose, we took a closer look at all of our lending processes through the new filter of streamlining workflows. We were able to find ways to automate and improve operations in every area. We’ll be continuing to automate as we move forward so we can give our team the support they need to do their best work.

Choosing Encompass eClose

There are other eClose solutions on the market, but the solution already built into Encompass® by ICE Mortgage Technology® is a natural fit for Affinity Plus. What sets Encompass eClose™ apart from other solutions is how simple it is from the underwriters’ perspective. Docs that are sent and received are all integrated automatically right into the folder, along with the application. It saves the underwriters a lot of time where they would’ve been hunting items down.

Suggestions: Beyond providing us with eClose capabilities, working with ICE continually helps us identify opportunities to grow. When we have goals to reach or problems to work through, ICE is always available to collaborate on new ideas and solutions. They are constantly ready to offer us more so we can be prepared moving into the future.