In-Person v. Remote Closings
|
In-Person Closings
|
Remote Closings
|
|
|---|---|---|
| Fraud Protection | ||
| Fraud Protection | Visual ID verification only | KBA and Biometrics |
| Average Settlement Fees | ||
| Average Settlement Fees | $1,100 - $1,350 | $899* |
| Time Spent at Closing | ||
| Time Spent at Closing | 60 - 120 minutes | 15 - 30 minutes |
| Travel Time To/From Closing | ||
| Travel Time To/From Closing | 30 - 60 minutes | N/A |
| Funda Approval | ||
| Funda Approval | 15 - 30 minutes after final loan package uploaded for lender review | Instant Funding Approval - loan processors can observe RON sessions |
| Environmental Friendliness | ||
| Environmental Friendliness | 100 - 150+ pages printed | 100% electronic |
*Additional fee for delivery of certified checks