NotaryCam(R), the pioneering and market leader in remote online notarization and mortgage eClosing solutions, today announced that East Texas Title has executed its first remote online closing (ROC(TM)) in Texas since the state’s remote online notarization law went into effect. The transaction, which was executed using NotaryCam’s eClose360(R) eClosing platform, was performed on behalf of a couple currently located in Colorado and selling their property in Longview, Texas.
NEWPORT BEACH, Calif. /Mortgage and Finance News/ — NotaryCam(R), the pioneering and market leader in remote online notarization and mortgage eClosing solutions, today announced that East Texas Title has executed its first remote online closing (ROC(TM)) in Texas since the state’s remote online notarization law went into effect. The transaction, which was executed using NotaryCam’s eClose360(R) eClosing platform, was performed on behalf of a couple currently located in Colorado and selling their property in Longview, Texas.
“We started conducting remote online closings on the seller’s side first because that was something we could do immediately without having to wait for the lenders to be ready,” said Celia Flowers, owner of East Texas Title. “What was really important to us was to stop mail outs because when you’re mailing documents to people, they can get lost. They might not sign in all the right places and then send back incorrectly executed documents, which really holds up the transaction. With remote online notarizations and closings, it’s instant, and the documents are signed correctly.”
In addition to the sellers, a NotaryCam-trained Texas Signing Agent, the closer from East Texas Title, another representative from East Texas Title and NotaryCam’s Director of Notary Operations Henry Smith were also present for the transaction via the platform’s live video feed. In accordance with Texas law, all documents were signed and notarized and made accessible to East Texas Title immediately, with the full transaction taking less than one hour.
“Historically, we would have had to ship the documents to sellers in Denver and then wait for them to return the documents before we could complete the closing. By closing remotely with NotaryCam, we were able to complete the seller’s side of the process the same day,” Flowers added. “The sellers thought it was great because they didn’t have to find a notary and could do it all online. The husband had some health issues so it was nice that he was able to be comfortable at home. The wife came in just as we were starting because she didn’t have to leave work to go find a notary. For them, the convenience factor was a huge plus.”
“The business case for remote online notarizations and closings is as clear today as it was back in 2012 when NotaryCam was founded. Home buyers and sellers are no longer constrained by geography, and the mortgage closing process must follow suit,” said NotaryCam Founder Rick Triola. “Without the remote option, this couple was facing hundreds of dollars in extra expenses, not to mention extreme inconvenience, simply to complete the sale of their home. Having completed more than 130,000 remote online notarizations, we speak from experience when we say, ‘There is a better way.'”
In July 2018, Texas became the third state to allow its notaries to perform remote online notarizations (RONs) nationwide, which is a critical component to the full ROC transaction. Today, Virginia, Montana, Texas, Nevada, Vermont, Minnesota, Michigan, Indiana, Tennessee and Ohio have all passed some form of RON legislation.
“Remote online closings simply are not possible without remote online notarization, and we applaud these states in their foresight to allow their notaries to conduct these transactions not just within their individual jurisdictions, but worldwide,” Triola added. “Given the size of the Texas real estate market, the state’s adoption of remote online closings could prove to be a catalyst for more widespread adoption throughout the country.”
After pioneering the world’s first remote online notarization (RON), career real estate executive Rick Triola founded NotaryCam in 2012, and shortly thereafter, the company completed the first mortgage remote online closing (ROC) in 2014. Today, NotaryCam is the leader in online notarization and mortgage eClosing solutions, having notarized documents worldwide for hundreds of thousands of customers in all 50 states. The company’s patented eClose360(R) platform delivers the “perfect” online mortgage closing in every jurisdiction with a flexible workflow for document recording and unparalleled identity verification, security and customer convenience. NotaryCam also proudly maintains an industry-leading 99.8 percent customer satisfaction rating.
Visit https://www.notarycam.com for additional information or to get a document notarized today.
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