In order to keep everyone safe while still conducting real estate transactions, the industry is currently looking to remote digital closings. We’ve received many questions from our lender clients about remote online notarization (RON), which is the use of audiovisual technology to complete a notarial act when the signer and the notary are not in the same physical location, and the ability to offer remote closings to borrowers.
With increased demand for remote eClosings, many of the barriers that have historically held RON back from mass adoption are coming down. More specifically, federal and state governments are moving quickly to enact RON legislation. Since RON authorization is governed by state laws, this would make RON possible in places where it wasn’t before.
Acceptance of RON is rapidly changing right now. To help you keep up-to-date on these changes and stay informed, we’ve compiled a guide for lenders on navigating digital closings during this COVID-19 outbreak.
If you’re interested in offering RON, you will be able to do so through Snapdocs. We will support fully digital closings, also known as eClosings, with RON, so lenders can provide borrowers with a completely remote digital closing when necessary. Please contact your Snapdocs account manager for more information.