Fairway Debuts Hybrid eClosings for Reverse Mortgages

Fairway Independent Mortgage Corporation has become the first lender to introduce hybrid eClosings for reverse mortgage borrowers, bringing a digital innovation long used in forward mortgages to the Home Equity Conversion Mortgage (HECM) program.

A new step toward modernization

The Madison, Wisconsin–based lender announced the rollout of hybrid eClosings this week, allowing seniors to review and electronically sign most of their loan documents ahead of closing. While certain forms still require “wet” signatures to remain compliant with U.S. Department of Housing and Urban Development (HUD) requirements, the process reduces time spent at the signing table and provides borrowers with greater flexibility.

Fairway has been a leader in the eClosing space on the forward side, having completed more than 200,000 digital closings since 2017. The company is now applying that experience to the reverse mortgage sector, with the goal of making the process more efficient and borrower-friendly.

“Borrowers can start reviewing and signing their documents from home as soon as the closing day begins,” explained Peter Sciandra, executive vice president of reverse lending operations and secondary. “This gives them more time to digest the paperwork and reduces stress at the actual signing.”

Shifting perceptions in reverse

Fairway executives say the move challenges the perception that older borrowers are reluctant to adopt new technology. Tom Evans, EVP of marketing and technology for reverse lending, noted that seniors are increasingly comfortable with digital tools and should be offered the same efficiencies as forward borrowers.

Christine Jensen, a branch manager and senior vice president of reverse lending at Fairway, said her team has already seen the difference. “Hybrid eClosings have cut manual signatures by more than half, which is a significant relief for older homeowners,” she said. “It’s making closings smoother for clients and professionals alike.”

Industry-wide implications

Company leaders frame the launch as more than a Fairway initiative. They believe the adoption of hybrid eClosings for HECM loans could accelerate the industry’s broader push toward modernization.

“Our goal isn’t just to innovate for Fairway,” Sciandra said. “We want to help set the standard for reverse mortgage closings across the industry by working with our technology and title partners to make these advancements available more widely.”

Looking ahead

Fairway is also expanding hybrid eClosing capabilities across its broader product lineup, which includes home equity lines of credit, second liens, and bridge loans. According to the company, nearly 90% of its closings now involve some form of digital process.

Dan Ventura, president of reverse lending at Fairway, emphasized that the company’s strategy is about balancing innovation with service. “Seniors deserve the same digital conveniences that have transformed the forward mortgage experience,” he said. “At the same time, we remain committed to providing the personal support that is so important in this space.”