Priority One Financial Services has added two new lenders to its 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 to the platform is the next step in its expansion of electronic signature offerings.
EZ-Sign enables Priority One dealerships to complete loan closings electronically using DocuSign, the world’s leading electronic signature company.
“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 percent 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.”
This 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,” says Heather Mariscal, president of Priority One.
Priority One anticipates having dealers use the electronic signing process with at least five marine and RV lenders by the first of 2019.
Dealers can contact Priority One at 800-419-1341 for more information.