Best e-Signature Tools for MLOs
Blog, Mortgage Lending
August 8, 2019 |
Mortgage loan originators play an important role for prospective homeowners. These are the agents that make the buying process free of undue stress. Initiatives that make the document signing process easier to reduce administrative burdens on MLOs and result in more happy clients.
One such example is an e-signature tool, which saves time and paper in getting those agreements finalized. These four e-signature tools are among the best on the market and offer distinct value whether you are looking for full-suite functionality or a good price.
Perhaps the most recognizable option is Adobe Sign, built by a company already well-known for its PDF documents. This product works with standard software solutions including Microsoft Office, Salesforce, and Workday. It also gives MLOs a bit of a safety net by making sure any e-signatures are legally valid using basic criteria.
If you don’t have high volume, Adobe Sign might seem expensive. It’s $9.99/month for one user, and the price increases when you want to add more users to the mix.
More users than any other worldwide use DocuSign. That means most MLOs have probably used it or are familiar with its functionality. The application easily integrates into most widely accepted platforms, including Windows, Apple, and Google. Its stand-out feature is its high security which uses sophisticated encryption technology.
Like Adobe Sign, DocuSign may be cost-prohibitive for some people. Plans start at $10 per month for a single user, and plans go up per user in the standard and business pro options.
This option is right for anyone who wants an all-in-one document creation solution. In particular, if you’re an MLO with a huge document and contract workflow, PandaDoc can make all aspects of your paperwork easier. You can integrate the documents with your customer database and access full histories. You can edit and audit documents using desktop and mobile interfaces.
Perhaps one drawback of PandaDoc is that it does not offer a standalone e-signature solution. Customers have to buy the entire package. Rates start at $15 for individuals, with team packages starting at $49.
The main advantage of HelloSign is that it offers a free version. It’s, therefore, a great option for low-volume MLOs who don’t want to spend a lot of money on an e-signature solution or commit to a long-term subscription. HelloSign also promotes is customization capabilities and global e-signature law compliance features.
On the downside, HelloSign’s free option only allows for three documents a month. That includes if you have to recreate a document. Its pro plan, which features unlimited documents, starts at $13 per month.
Regardless of which option you choose, e-sign solutions can make your work as an MLO easier. You’ll spend less time chasing after signatures and more time dealing directly with clients, who are at the heart of your business.