Let’s face it – when it comes to real estate transactions, borrowers want their money ASAP – and going to an office to sign documents is seen as an inconvenience. With online notarization, this problem may be solved.
Today, online notarization is only allowed and insurable in a limited number of states where the law recognizes the lien of the security instrument as valid and enforceable with priority. However, we see this trend growing quickly due to consumer demand for convenience and lender interest in efficiency.
Lenders and title companies should proceed carefully in states that allow online or remote eNotarization while also considering how tools and technology can enhance the closing experience for clients and customers to make business better.
Publisher: Stewart Title Guaranty Company
Date: October 2017
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