The Consumer Financial Protection Bureau (CFPB) launched a new eClosing pilot program in order to explore new avenues to make closings less complex to consumers. Cindy Koebele, president and executive director at TitleSmart Inc., and Bill Anderson, vice president of legislative affairs at the National Notary Association told The Title Report they weren't surprised by the announcement.
Koebele said she hasn't received a large number of requests in the past for eClosings but has performed some at the request of lenders in the last few years.