Title Agents, Another Reason to Offer Your Customers Online Notarization: Announcing Live Title Agent Participation
Notarize allows anyone to connect with a notary public online to complete a variety of transactions from a simple notarization to an online mortgage signing [a full eMortgage]. We’re online 24x7 and have a platform that works for every transaction across a range of devices: the web, iOS and recently Android too.
To date, our platform has connected signers to a notary public in a live, one-on-one meeting. Thousands of documents have been successfully notarized through our platform, giving consumers the convenience and security of notarizing documents all online.
We understand how much title agents care about their customers’ closing experience and that sometimes title agents desire to participate in their customers’ signings, even when they are remote. That’s why we’re excited to announce that title agents can now participate in live Notarize online signings – right from the Notarize web portal that they already use.
A real estate transaction like a home refinance or purchase is extremely complicated. Both a lender and title agent contribute, review, edit, and approve dozens of documents. These documents come from a myriad of systems and change numerous times in the run-up to the closing. Notarize is more than a platform to execute documents online and deliver them into the secondary market, it also enables lenders and title agents to connect, collaborate, and orchestrate an online signing for their customers.
Once the lender and title agent indicate the documents are approved for signing, we notify the borrower who connects online with one of our qualified notary signing agents, currently available 24x6. Everything is then instantly returned to the lender and title agent so they can complete their work as they typically would. It’s an extremely convenient and efficient process for the borrower, lender, and title agent as it eliminates travel, courier charges, potential document delays, potential lost documents, notaries late or lost, and potential errors.
In many real estate transactions, especially a home purchase, the signing experience for the buyer is also a coming together of the participants. In particular, title agents and realtors attend closings to answer questions, resolve issues, and share in the final steps of the home buyer’s journey. For many types of transactions, we believe their participation in the online signing will offer borrowers the best experience possible.
When will this be open to the public?
We’re live in Beta with a few title agents today and will be opening it more broadly to title agents in the Notarize Title Network over the next few months.
Richard Bramhall, Westcor Land Title Insurance Company’s Chief Underwriting Officer had this to say: “Since Westcor announced our willingness to underwrite loans closed by remote online notarization in sixteen states, many of our independent title agents have enrolled in the Notarize Title Network. We are excited that our agents can now join live signings online. Title agents play a critical role in the customer experience during real estate transactions and many of our agents have expressed a desire to participate in the signing, even when it occurs remotely and online. Notarize for Mortgage enables title agents to offer their customers remote online notarizations as an option, while still participating in the signing, which is the best of both worlds. We applaud this latest enhancement to Notarize's rapidly-advancing technology.”
Our goal is to support a range of scenarios. Some title agents will choose to join every signing while others may choose not to join any. Some will offer on-demand conveniences, while others prefer a scheduled model. We’ll support these preferences on a transaction-by-transaction basis. This matches how it works in the paper world as some title agents rely entirely on remote notaries, others host every signing themselves, and some vary depending on the circumstance. Why should online be any different? Our service was built to handle this complexity; we can ensure each online signing adheres to the policies and workflows of each of the title agents in our Title Network.
Who can Join?
The ability to participate in a live meeting will be made available to title agents nationwide. If you’re interested, Join the Title Network.
Once we complete the rollout for title agents to join live meetings, we’ll work to enable realtors to join as well. We’re also piloting title agent directed signings on our platform. More to come. To receive updates, sign up for the Title Network.
How should title agents think about an online signing?
Online signings are a tool to meet and serve customers online, but they in no way change the important role that title agents play in real estate transactions. For many years title agents have relied on signing services or traveling notaries to conduct their remote signings when the borrower elects not to attend a closing in the title agent’s office. Perhaps the borrower is traveling; partners or spouses are in different cities because of work; perhaps a borrower is overseas or in the military, or unable to attend a signing in a title agent’s office because of physical impairments, lack of time, lack of a babysitter, or many other reasons. It is a commonly accepted practice to utilize a traveling notary to oversee a remote signing in these circumstances. Notarize is simply bringing the “remote signing” online. Other than that, the title agent’s role remains the same - they fill the role of both title and settlement agent, and Notarize acts as an online notary.
If you’re interested in offering remote online notarizations to your clients, we would love to work with you.