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Announcing the Notarize Mortgage API. Fully automated online closings

Today’s an exciting day at Notarize. The Notarize Mortgage API is now live.

If you’re a lender, the Notarize Mortgage API eliminates all manual processes to create an online closing. You can integrate directly with your LOS or other systems to create fully digital online closings - and you can automate your entire closing operation as you’ve always dreamt.

Creating and coordinating a closing takes an enormous amount of work. You’d be surprised, but it can take up to 30 minutes to upload the ~ 50 files into our system by hand, order them as desired, and indicate which docs need to be notarized vs simply signed by the borrower. While this is already much better than what’s required in the analogue world where you must manually prepare and share every closing document with your title partners who must then forward them to the signing agent, print them, drive them to the closing, etc, it’s still not good enough for us. Creating transactions manually and uploading documents into our portal by hand isn’t the digital mortgage experience we’re striving to enable.

Now, instead, your systems can integrate with the Notarize Mortgage API and order a closing automatically. Your closers can simply click a button in your existing tools to offer your borrowers an online closing. If you need to update or change a document, your system can automatically send the updated file to Notarize. Once the closing is sent to the borrower, our API keeps your systems informed of the transaction’s status in real-time: has it been received by the borrower, opened, started, and completed? And, once complete, you’ll instantly get back the entire closing package and the metadata associated with the transaction. By integrating systems directly, we’re not only driving efficiencies, but we’re reducing errors, accelerating the entire time it takes to close and offering borrowers a better experience.

To create an online closing order, you just need to make a simple API request to create the transaction. Your system will tell ours the basic information about the closing: who the borrower is, what type of loan you’re closing, and information about the closing like the loan and file numbers. Then, whenever the closing document package is ready, your system will pass the documents to ours, telling us how to sort the documents for presentation to the borrower and which need to be notarized. These can be sent as zip, a bundle comprised of many files or as one single bookmarked PDF that our system will break apart. If you plan to sell the loan into the secondary market, we’ll need an eNote, which you can provide alongside the other documents. Or, if your system can’t generate an eNote, you can pass a simple CSV or XML file to our API and we’ll instantly generate the eNote for you. The entire process is automated.

The Notarize for Mortgage API enables lenders to :

  • Programmatically create orders for an online closing.
  • Create eNotes on demand - a first-of-its-kind service in full compliance with the MISMO SMART Docs Version 1.0.2 standard [with 3.0 coming once adopted].
  • Add or modify a full document package that’s ready to be signed by the borrowers, either individually, or in bulk as a bookmarked PDF.
  • Track real-time status via WebHooks that show when a loan progresses through the closing (e.g., sent, received, in progress, completed) - providing full programmatic visibility throughout the closing lifecycle.
  • Receive fully executed closing documents immediately following a successful closing.

We’re doing the same on the title side of the house by integrating with ResWare, as announced last week. Now, all sides of the closing can be fully automated.

Implementing the Notarize Mortgage API should require only a handful of software developer hours, and the payoff is immediate: an automated, completely paperless, online closing. As a lender, automating your operations and offering your borrowers completely online closings requires zero hardware - simply make more API requests.

If you want to offer your borrowers online closings, we’ll help you through the entire process of becoming an E enabled lender and we’ll help you integrate with our API to automate your closing operations. Depending on your partners, we can get you up and running in 2-5 weeks.

We’re ready when you are. To get started, just fill out our Contact Request form.

- Russ

You have notarization questions, we have notarization answers. While we at Notarize pride ourselves on providing helpful resources (like this blog!) to demystify notarization, we’re not lawyers and don’t give legal advice. Pro tip: always check with your own attorneys, advisors, or document recipients if you have further questions about notarization or digitally notarized docs.

What You Need to Know About Papering Out and Recording Electronic Records

The entire real estate industry has seen a massive shift in excitement as it moves towards a world of remote online notarizations and fully online real estate closings. Thousands of homes have already been bought and sold online with the help of progressive underwriters and counties that are accepting electronic-recording, or eRecordings.

Until recently, you could only complete an end-to-end digital closing if your property was in an eRecording county. But as of January 1, 2020, a total of 10 states now have laws that allow recording entities, at their option, to record a true and complete paper printout of an electronic document.

Read more

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