Online notary services like RON are quickly becoming a popular solution for mortgage, real estate, and title companies. But what are the benefits of using a remote online notary?
RON allows a notary to meet with signers remotely via a web conference platform. It eliminates the need for physical meetings and helps to avoid coronavirus concerns.
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RON offers many operational benefits to real estate professionals, title companies, mortgage lenders, and signing agents. These include reducing their reliance on costly mail-away closings, increasing customer satisfaction, and enhancing revenue streams.
In addition, RON allows notaries to offer services to a much larger geographic area than what would be possible in person. Using a web conferencing platform, the notary and signer communicate online via audiovisual technology to verify identity and conduct the notarization.
Signers can schedule a RON appointment at their convenience, eliminating the need to plan appointments during working hours or travel to multiple locations. Once the document is notarized, it can be accessed at any time. In addition, a digitally notarized document is valid anywhere in the country if it meets the requirements set forth by the notary’s commissioning state.
RON is highly secure and can be used for a variety of transactions. For example, it can be used for auto title transfers, mortgage closings, and other financial and real estate services.
When choosing a RON provider, look for one that provides a robust identity verification and notarization platform compliant with state laws. It should also provide a digital audit trail and meet common data privacy standards.
RON is a fast and convenient process that saves time for notaries and signers. It uses a combination of document uploading, identity verification, audiovisual communication, and electronic journaling to provide a complete notarization experience that is legally acceptable in all states. It is an excellent option for large mortgage companies that need to close loans on properties throughout the country and for real estate agents that can work with clients nationwide without leaving their offices.
A good RON service provider has a system to keep all client documents and meeting sessions secure. It is critical for various reasons, including protecting your clients from fraud.
Signers connect to a commissioned notary during a RON session through a video call. The notary can verify the signer’s identity by running ID photos against official databases and performing knowledge-based authentication.
It makes RON significantly more reliable than in-person notarizations. And, since RON is not restricted to any geographical area, it opens up your business to a new market. It is especially beneficial for title companies that require notarizing documents as part of the mortgage and real estate closings. RON allows them to close loans faster and more efficiently.
With RON, you can take on clients who need to meet the requirements for in-person signings. This includes borrowers with busy schedules, employers who need to bend the rules, and other situations that call for flexibility without compromising the integrity of the notarization.
Using a quality third-party RON provider means avoiding ink and toner expenses and gas costs while expanding your client base. In addition, the right RON platform can reduce your document processing time and provide you with digital audit trails to track and record all transactions.
Whether you’re a lender, title company, or lawyer, RON can boost your bottom line and help you create better signer experiences. Even before the news of the COVID-19 pandemic, innovative businesses were focused on streamlining processes and creating more convenient customer experiences.
More than a billion transactions require notarizations every year in the United states. From quitclaim deeds and property transfers to child custody agreements and family court documents, many of these documents must be notarized to comply with state law.
Traditional processes are time-consuming, costly, and paper-intensive. RON eliminates these costs while providing a digital, secure, and auditable process that’s easier to enforce in case of a dispute.
While other options exist for notarizing documents remotely, they need more security and ease of use of a fully-fledged RON process. Make sure the RON solution you choose is MISMO compliant, offers strong identity proofing, and provides a robust audit trail that’s easy to trace. It ensures your document integrity is intact.