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Lenders: Create a HELOC eClosing

Casey
  • Updated

Overview

Learn to create a HELOC eClosing from the Lender portal on the Proof platform. This article walks through the entire process for Lenders, from the first click to the confirmation email.

ℹ️ Purchase or Refi: Use Create a Real Estate Closing for a Home Purchase or Refi 
🎯Primary Audience: Mortgage Lenders

Table of Contents

1. Start new closing 5. Loan number 9. Schedule signing 13. Instructions
2. Type of closing 6. Closing team 10. Promissory Note 14. Send Transaction
3. Property address 7. Signer details 11. Prep documents 15. Contact Support

We also have a demo of the HELOC process from the perspective of Title Agents, Lenders, and borrowers (signers).

Steps

Step 1

Start a new closing

Log in to your Proof account to complete the steps below.

Click  > Select Real Estate Closing.

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Step 2

Type of closing

Select HELOC.

ℹ️ Purchase or Refi: Use Create a Home Purchase or Refi eClosing or Hybrid

lender_heloc_choose_closing_type.png

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Step 3

Provide the property address

Provide the property address and click .

  • Street Address
  • Unit/Apt (optional)
  • City
  • State
  • Zip Code
  • County/Recording location (fills in automatically)
The recording location is a non-editable field determined by Property Records Industry Association (PRIA).

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Step 4

Transaction details

Provide a file and/or loan number to make it easier to find the transaction later. (Optional)

lender_heloc_transaction_details.png

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Step 8

Closing team

Add contacts from your closing team who are supporting the transaction. This optional step allows you to share documents to be viewed or downloaded. You can also choose whether or not to share each contact's info with your borrower. 

lender_heloc_contact_visible_to_signer.png

lender_heloc_contacts.png

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Step 9

Signer details

  1. Provide signer details:
    • Vesting type (Borrower or Non-borrower)
    • Name
    • Email address
    • Phone number (optional)
  2. Indicate if the signers are signing in a representative capacity
    Click here to expand if the signers are signing the documents on behalf of someone else:
    • Check the box next to This is a representative signer
    • Type the name of the person or entity the signer is signing on behalf of
    • Select the signer's capacity from the Type of capacity dropdown

    Capacity options

    Attorney-in-fact Corporate Officer Guardian or Conservator
    Partner (General) Partner (Limited) Trustee
    Other    
  3. If any of the documents require more than one signer, select Yes under Does this transaction require additional signers?
    • This does not include witnesses. Witness requirements can be added later.
  4. Indicate if the signers need a secondary ID by selecting Yes under Will the signer(s) need a secondary ID?

lender_signer_details.png

If you have the credible identifying witness feature turned on, the modal to provide the witness's information appears directly below the signer's information. Learn more about using a credible witness for eClosings.

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Step 10

Signing schedule

Select a date range/window or schedule the closing. 

View a screenshot of a date window

lender_closing_date_window.png

View a screenshot of a scheduled closing

lender_scheduled_closing.png

Indicate what type of Notary will be used:

  • Internal notary: Also known as In-House Notary (IHN)
  • Notarize: Also known as Notarize Network 

If you're using an internal notary, you can select a specific person to be assigned or choose Unassigned from the dropdown to allow any notary from your team to handle this closing.

Review Assign a Notary to a Real Estate Closing for more information.

ℹ️ Leave the default if the Title Agency will notarize the documents. (Internal > Unassigned)

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Step 11

Promissory Note

Indicate how the promissory note will be signed:

  • eSign
    Screenshot: Promissory Note via eSign lender_promissory_note_esign.png lender_promissory_note_manual_enote.png
  • Wet Sign
    Screenshot: Promissory Note via Wet Sign lender_promissory_note_wetsign.png

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Step 12

Prepare documents

Upload documents:

  • An eSign Consent and Disclosure form automatically appears on every transaction:
    • The eSign Consent and Disclosure form is attached at the bottom of this procedure.
  • You must add at least one additional document to proceed.

title_add_docs.pngtitle_add_docs_and_tags.png

The documents automatically open for you to tag and prepare:

  • Review Tagging Documents for more information on self-tagging and using white-text tags.
  • Note: You can add a witness requirement by clicking the "eye" icon in the top right menu above your documents.

docs_require_witness.png

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Step 13

Special instructions

Before sending the transaction, you have the option to add any special instructions or notes:

  • Add a personal note to your signers
  • Add instructions for the Notary or the Proof Closing Operations Team (if applicable)

lender_special_instructions.png

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Step 14

Send the transaction

Click

If you are not ready to send the transaction, click Save & Exit to save your work and return later.

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We're here to help! Please don’t hesitate to reach out to your Proof team with any questions about Proof Real Estate solutions.

To contact Support, click the Chat icon in the corner of your screen to start a chat with us, or send us an email at support@proof.com!

© 2023-2024 Notarize, Inc. (dba Proof.com) All Rights Reserved.

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