St. Petersburg, Fla.-based Priority One Financial Services recently added Merrick Bank to their EZ-Sign electronic signature process.
According to a press release, EZ-Sign enables Priority One dealerships to complete loan closings electronically using the software provided by DocuSign, an electronic signature company. EZ Sign allows consumers to digitally sign loan documents at a place and time outside of the RV dealership, via a personal computer or cellphone.
“The number of Priority One dealers requesting electronic closings has increased substantially and we welcome Merrick Bank to the EZ-Sign platform,” says Lorraine Mariotti, Priority One’s vice president of lending. “It is important to Priority One to offer our dealers choices… with this technology we make the process easier and more efficient.”
The company says the EZ Sign software simplifies the closing process for dealers by reducing the number of the loan documents needing to immediately be signed prior to unit delivery by 98 percent. The electronic signing process can eliminate delays in funding, according to the company.
In addition, Priority One says the software helps its lender partners be more efficient, which can lead to a speedier funding/approval process.
Merrick Bank is the fourth marine/RV lender to allow dealerships to fund deals via Priority One’s EZ-Sign electronic closing process. Other lenders who participate in the program include First Internet Bank, Medallion Bank and Aqua Finance.