The Benefits of Online Closings - Notarize Academy...often cheaper than hiring a mobile notary....
Transcript of The Benefits of Online Closings - Notarize Academy...often cheaper than hiring a mobile notary....
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The Benefits of Online Closings
Notarize Academy for Title Agents
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The Benefits of Online Closings
Notarize Academy for Title Agents
![Page 3: The Benefits of Online Closings - Notarize Academy...often cheaper than hiring a mobile notary. Overview of Using Notarize. Property Records Industry Association (PRIA) About 85%](https://reader034.fdocuments.us/reader034/viewer/2022050405/5f827e98baaa0840f902ac3e/html5/thumbnails/3.jpg)
Source: National Mortgage News and Stratmor
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Benefits of Online Closings
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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
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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.
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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.
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Overview of Using Notarize
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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.
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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.
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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.
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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.
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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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