Remote Online Notarization Will Save Half a Million Trees Each Year
Millions of homes are bought and sold each year, and nearly every one of these transactions involves a giant stack of paper. While signing all those documents is sure to make your wrist sore, the amount of paper used for closings also negatively impacts the environment.
As we celebrate Earth Day, we’re reminded that people and companies alike have a role to play in environmental protection. That’s why we’re working to make a signing experience that is better for everyone - Mother Nature included.
Empowering millions of people to buy and sell homes online isn’t just more convenient and cost-efficient. With nearly 5 million home sales annually, Americans use over 1 billion pieces of paper on home closings each year.
And that’s just for mortgages that reach the closing table.
Here’s the bigger impact:
- If every home closing in the United States became fully digital, we could save 120,000 trees and more than $1 billion annually. That’s before you account for documentation on the part of lenders, title companies, and real estate agents, and mortgage applications that don’t reach the closing table.
- If every lender, title company, and real estate agent went from shipping documents via FedEx and UPS to sending all documents electronically, that’s more than $100 million in annual savings
- If every notarization was done digitally, we would save more than 1 billion pieces of paper.
Digital processes saves time, money, and human capital, but they also benefit the environment.
A paperless mortgage is not some distant dream - we do it every day. Since completing the first fully digital mortgage in August of 2017, we have facilitated tens of thousands of digital transactions, saving millions of sheets of paper in the process.
We are proud to bring simplicity, certainty, and security to one of the most important sectors of the American economy, but we’re also proud of our efforts to leave our home a little better than we found it.
Join our efforts by going fully digital.