Announcing Notarize for Purchase Transactions: Buy a Home, Online
For decades, the process of buying a home has remained largely unchanged.
So much of the home-buying journey is still paper-heavy, manual, inefficient, and, well, not very digital. Printing and signing documents, scheduling in-person meetings and shipping paperwork are still the norm.
While several solutions on the market digitize portions of the mortgage process, there’s remained one monumental roadblock in delivering a true, end-to-end online experience that finally eliminates all that paper, shipping, and scheduling – the closing.
When we launched Notarize for Mortgage in August, we set out to bring home buying into the digital era. Our mission: that anyone can buy a home online. This meant enabling a fully electronic workflow that goes beyond loan application, but one where lenders and title agents can initiate real estate transactions all the way through closing.
Since August, we’ve seen incredible momentum in bringing e-closings to market. We completed the country’s first ever online mortgage closing in partnership with United Wholesale Mortgage (UWM), Stewart Title and Trusted Lending Center.
In January, we announced our availability to close eMortages in 16 states with Westcor Title. Just last week, we launched the ability for title agents to join their customers online. And with our Mortgage API and instant API-driven registration with MERS, we’re making it easier for companies to provide an end-to-end digital mortgage experience.
Today, we’re excited to announce a new addition to our platform: Notarize for Mortgage now supports real estate purchase transactions. This is a first of its kind solution that creates a paperless home buying experience for millions of Americans and serves more than 60% of the real estate market.
Together with Westcor, the offering expands beyond REFI transactions, now enabling fully online real estate purchases in 16 states (Alabama, Florida, Illinois, Indiana, Kansas, Maine, Maryland, Missouri, Montana, Nebraska, Nevada, New Hampshire, Ohio, Tennessee, Virginia and Washington).
UWM was our first partner to offer customers e-closings for purchases with the Notarize platform. Starting today, the ability to execute purchase transactions is available to all Notarize customers.
Whereas many “digital” solutions available today still require wet signing of documents or scheduling in-person meetings, Notarize’s online notary public and eMortgage platform is the only solution that fills a much needed gap in the ability for lenders to completely digitize their operations.
The result is cost-savings, convenience and an improved experience for all.
Notarize for Mortgage is:
- Entirely online and paperless – available to borrowers on any computer, iPhone, Android, or iPad
- A collaborative platform for lenders and their title partners to prepare and manage closings
- Designed to prevent errors and to ensure properly executed closings
- Integrated with an eVault & MERS to accelerate sale into the secondary market
- A verified eClosing, eVaulting and eNote platform with both Fannie Mae and Freddie Mac
- On Demand with dedicated notary signing agents online
- Available via APIs to automate the closing process
This is only the beginning in our commitment to provide the best eMortgage platform on the market. Stay tuned for more updates.
To see how Notarize for Mortgage works, schedule a demo today.