Navy FCU Implements Electronic MortgageClosing Tool

October 20, 2005, 1:00 a.m. EDT 1 Min Read

VIENNA, Va. - (10/20/05) -- Navy FCU said it is now using asystem provided by First American Corp. that helps it increase theefficiency of the online mortgage closing process. The ClosingCollaborative Tools is an integrated set of capabilities that allowdata and documents to be shared electronically between lenders andsettlement agents throughout the closing process, reducing the costand time and accuracy of the process. The system includes threecore components: data quality services; document exchange services;and eSign services, that facilitates electronicsignatures.

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