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Escrow of the West is a leading independent, full-service
escrow company serving the greater Los Angeles area. With
offices in Beverly Hills, Sherman Oaks and Warner Center
(Woodland Hills), Escrow of the West (EOTW) is a leader in
the real estate owned (REO) escrow market and transacts
thousands of escrow documents annually. The company
reduced costs and increased customer satisfaction by
switching to electronic signatures with DocuSign.
“We’ve received rave reviews as to how simple and fast the
DocuSign signing process is in comparison to slow paper
transactions.”
Galit Ofengart
President/Principal
Escrow of the West
Challenge
Escrow of the West processes more than 26,000 escrow documents
each year. Thousands of documents are printed and mailed for initials,
signatures and other pertinent information. If an initial is missed or
signature overlooked, the document must be returned to the signer
and the process starts all over again, creating delays and frustration.
EOTW wanted to automate transaction workflows and eliminate
incomplete documents, thereby expediting the signing process.
Solution
With the popularity of the DocuSign electronic signature service
in Southern California, EOTW looked to DocuSign first and was
impressed. Upon launching the DocuSign electronic signature
solution, EOTW started seeing immediate, positive results.
Results
Now with DocuSign, EOTW quickly tags all escrow documents
for signature. Clients receive an email notification, and are quickly
authenticated and navigated through the document signing process.
The entire transaction takes minutes to complete from any Internet-
connected device, compared to hours with manual signatures.EOTW
expedites document signing time and reduces legal risk as documents
are always returned completed. Plus, the company has significantly
reduced its carbon footprint.
Feedback from real estate agents has been very positive as well,
particularly with regards to how little time it now takes to process
documents. Joanna Jessy Jimenez, a certified foreclosure/shortsale
specialist with Prudential California, reported that it usually took two
to five days to get forms signed, but now “with DocuSign, it takes just
minutes right from a smart phone.”
EOTW also sees more on-time closes using DocuSign, and Kristin
Resteghini of L.A. City Lofts “…loves that Escrow of the West has
DocuSign. It is so much easier for us and our clients, too. Now
paperwork is returned much faster, is accurate and legible which helps
deals close on time.”
Real estate agents who already use DocuSign appreciate that they
are able to keep even more of the process digital when working with
Escrow of the West. Stephen Shapiro, chairman of Westside Estates
Agency uses DocuSign in his business and is “excited to be able to
have escrows processed through such a wonderful service.”
Summary
• Reduced document signing process from days to minutes
• Increased customer satisfaction as documents are easy
to complete
• Eliminated returning documents for a missing signature
or information
• Reduced expenses by eliminating paper and postage
Escrow of the West Provides
DocuSign Technology
to Its Clientele
CASE STUDY