Priority One Financial Services, Inc., the recreational industry’s oldest and largest F&I outsourcing provider, added Merrick Bank to their electronic signature process called EZ-Sign ™. Priority One was the first in the recreational market to use electronic signature technology and the addition of Merrick Bank to the platform is the next step in their expansion of lenders allowing electronic signature closings. EZ-Sign ™ enables Priority One dealerships to complete loan closings electronically using DocuSign, the world’s leading electronic signature company.
“The number of Priority One dealers requesting electronic closings has increased substantially and we welcome Merrick Bank to the EZ-Sign platform. It is important to Priority One to offer our dealers choices as to how and when their customers sign loan documents and with this technology we make the process easier and more efficient. We look forward to adding more lenders soon,” says Lorraine Mariotti, Priority One’s Vice President of Lending.
This technology simplifies the closing process for Priority One’s 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 Priority One’s 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.
Merrick Bank joins First Internet Bank, Medallion Bank and Aqua Finance, Inc. as the fourth marine and RV lender who allow dealers to fund deals via Priority One’s EZ-Sign™ electronic closing process.
Dealers can contact Priority One at (800) 419-1341 for more information.