For our lenders who are Encompass users and want to adopt full eClosing with Remote Online Notarization, Snapdocs has designed a unique tool called RON eEligibility. Using this tool, loan officers can instantly check if a given loan may be eligible for Remote Online Notarization before opening a closing. In addition to the tool, for each RON transaction, a settlement agent is requested by Snapdocs to acknowledge the following:
- Whether the county associated with the property can accept electronically signed and electronically notarized documents for recording via eRecording or physical recording.
- Whether the closing does not include a POA or trust.
- What are the notary requirements (in-state or out-of-state assignment).
- Whether the assigned title underwriter permits the use of RON for this closing transaction.
Below you will find an overview of the data required to determine eEligibility. The fields required are as follows:
- Property address, including state, zip, and county
- Program/loan type (preferences set by each lender)
- Investor (identified by each lender)
The responses returned by the Snapdocs form are as follows:
- Needs Review
- Not Eligible
If the status is deemed Eligible, the notes returned will be as follows:
- This closing is full eClosing eligible; an in-state RON notary can be assigned if requested.
If the status displays Needs Review, the notes returned may be as follows (depending on the additional information required):
- Please include the property address.
- Please include the county with the property address.
- An out-of-state RON assignment is the only workflow available for this transaction.
- Please check that the product/loan type entered is eligible for RON.
If the status is deemed Not Eligible, the notes returned may be as follows:
- This closing is not full eClosing eligible as the property county is not eRecording eligible.
- This closing is not full eClosing eligible as the loan/product type is not RON eligible.
- This closing is not full eClosing eligible as the investor does not accept RON in the property state.
- This closing is not full eClosing eligible because the property state is not supported at this time.
Because eEligibility and availability of in-state RON notaries is a developing landscape, you can track which states the Snapdocs Solution enables in-state notary assignment here. The purpose of the eEligibility tool is to provide lenders with insight on remote online notarization, but does not constitute legal or compliance advice. Each lender utilizing the eEligibility tool should make sure to consult with their attorneys, advisors, or document recipients about notarization or digitally notarized documents.