Priority One Financial Services, Inc. has announced the addition of two new lenders to their electronic signature process called EZ-Sign.
Priority One was first in the recreational market using electronic signature technology and the addition of Medallion Bank and Aqua Finance, Inc. to the platform is the next step in the company’s expansion of electronic signature offerings.
EZ-Sign enables Priority One dealerships to complete loan closings electronically using DocuSign, “We are excited to bring more lenders into our EZ-Sign™ closing process making finance deliveries easier for our dealers and their customers,” said Lorraine Mariotti, Priority One vice president of lending. “This technology simplifies the closing process for our dealer partners by reducing 98% of the loan documents needing to be signed at delivery, eliminating costly delays in funding and revolutionizing the way recreational loan closings are being done currently today. In addition, it helps our lender partners be more efficient by speeding up their funding process.”
The technology is also attractive to consumers because it provides flexibility to sign loan documents at a place and time that is convenient for them, whether it’s at home, on their cellphone or when they are at the dealership.
“Not much about the loan closing and delivery process has changed in our industry since Priority One unveiled the electronic contracting process many years ago. While this was an advancement at the time, electronic signatures help our industry meet the demands of an ever increasingly tech-savvy consumer,” said Heather Mariscal, president of Priority One.
Priority One anticipates having least five marine & RV lenders using the electronic signing process by the first of 2019.
Dealers can contact Priority One at 800-419-1341 for more information.