June 16, 2024
Online Notary Services

Facilitating Digital Mortgage through Online Notary Services

Online Notary Services


A mortgage is a loan that has been approved for the borrower with his property serving as security. The mortgage application to closing process involves a number of procedures, including the processing of numerous papers. Almost all documents must be certified or validated (Notarized) while the mortgage papers are being authorized. During the pandemic, most lending financial organizations had a difficult time completing the documents for sanctioning loans, so digital closing emerged as one of the most efficient alternatives to facilitate hassle-free mortgage closing for both lenders and borrowers.

What is Notarization:

The notarization of documents serves primarily to validate them for approval of papers. Traditionally, the notarization process required the signers to schedule a time with the Public Notary and travel to the Notary office in order to notarize their documents. With the introduction of online notarization services, which are performed through a virtual notary platform, signers can quickly validate their documents online.

How is RON helping the Real Estate Industry?

RON services have been more popular because of their benefits to signers and companies executing e-closings via digital mortgages. Documents are notarized by a Public Notary using a RON platform such as eNotary On Call to obtain an electronic signature and a seal. Since it allows for the signing of mortgage papers, property documents, deeds of trust, grants, witnessing documents, etc., even when the parties are not physically present in the exact location as the notary, the real estate sector is seeing an increase in remote online notarization.

RON, its effectiveness, and the State’s role:

Since the pandemic, RON has gained importance for promoting remote electronic notarization and preventing the spread of COVID. The majority of US states have legalized RON as a result of all these advantages. Not only did it make Notarization services easier to obtain for signers, but it also significantly aided Public Notaries in raising their income. This is because it enabled them to notarize more documents each day than they could have under traditional Notary services.

How RON is performed:

With online notary services, a public notary must remotely witness or approve the signer’s documents. The notarization procedure is completed by using audio-visual technologies via the RON platform, such as eNotary On Call. A Notarization, however, cannot be considered legally binding unless it is electronically signed and sealed with the stamp. Following are the general procedure and the requirements in RON – 

  • A signer must pass the KBA verification test before proceeding to the initial steps of notarization. KBA is a background check.
  • Signers must present a valid photo ID to the public Notary during the video conference.
  • Now a signer must sign a document and send it to the Public Notary to receive an electronic seal & signature.
  • If the Public notary is satisfied all of the given data in the document are accurate, he may notarize the transmitted copy of the document. 
  • Thereafter, it is approved by the public notary with an electronic seal and signature.
  • Finally, the signer can download the notarized documents.

To Sum Up:

RON can be highly helpful for lenders and borrowers to speed up their workflow and enable end-to-end mortgage completion. It’s because digital mortgage lending allows lenders to instantly notarize their documents using remote online notarization services. In turn, it facilitates real estate companies by hastening the mortgage lending procedure.

Suppose your real estate product’s mortgage financing is something you want to digitize. You may consider eNotary On Call as a speedy and secure online notarization platform. This is because the entire notarization session is recorded and kept for up to seven years in case any future reference is needed.

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