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Sony Bank Introduces "Electronic Closing Service" for Housing Loans

May 30, 2019

Sony Bank Inc., a wholly owned subsidiary of Sony Financial Holdings Inc., will launch "Electronic Closing Service" on June 3, 2019 that enables the customers to complete the mortgage loan closing process online.

Currently, customers whose mortgage loan application has passed through the final underwriting review process are required to sign and affix a seal to a paper contract and send it to Sony Bank to close the mortgage loan. The new service enables customers to shorten the time to get a mortgage loan by completing the mortgage loan closing on the same day at the earliest instead of within the usual timeline of about one or two weeks. Without needing a paper contract for a mortgage loan, customers will no longer need to pay the stamp duty on a mortgage loan contract, obtain a certificate of a seal impression, or send paper documents.

Sony Bank continues to make its services more convenient for customers and meet their various needs by taking full advantage of information technology.

Note: This is an English-language summary of a Japanese announcement made by Sony Bank on May 30, 2019. The summary was prepared by Sony Financial Holdings solely for convenience of non-Japanese readers.