The Benefits of Online Closings

Notarize Academy for Title Agents

The Benefits of Online Closings

Notarize Academy for Title Agents

Source: National Mortgage News and Stratmor

Benefits of Online Closings

Become more attractive to lenders.

● Lenders are starting to request RON closings because it’s more cost effective.

● Meet the demand your lenders with all types of closings:○ Mortgage○ HELOC○ Refinance○ Cash Deals○ iBuyer

Time Savings

● Document preparation is shorter.

● The closing meeting is shorter because the signer can review documents in advance, and have questions prepared.

● Online closings reduce the amount of errors in a completed document package. This saves time for the employee who must fix these errors.

Increased Productivity

● Increase your transactions by 15-20%, because your company can handle more volume.

● You don’t need new equipment because most modern offices can access the Notarize platform.

● Using an online closing platform doesn’t add much to your bottom line. It’s often cheaper than hiring a mobile notary.

Overview of Using Notarize

Property Records Industry Association (PRIA)

● About 85% of Americans live within the counties that do accept eRecordings.

● Underwriters will ensure Notarize online closings in 38 states.

Title Production Software Integration with ResWare

● With the integration, you perform the same functions you do today on a closing.

● Notarize will automatically send executed documents straight into your ResWare file within minutes of the closing.

Cost of an Online Closing

● It’s $99 to use Notarize.

● You could ask the signer to pay, just like would if you hired a mobile notary.

Length of Closing Meeting

● Signers receive the closing package before closing day.

● Encourage them to eSign portions of the document before the meeting.

● This saves you time! If the signer reviews documents ahead of time, the closing meeting is about 30 minutes.

Title Agents Joining the Closing Meeting

● Title agents can choose to join with audio and video to answer any questions from your signer.

● The notarization will be executed by one of our commissioned notary publics.

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