First American Expands RON Availability Across All Residential Transaction Types
September 30, 2021
First American Title Insurance Co. expanded availability of remote online notarization (RON) through its direct and agency operations for residential real estate transactions.
First American has accelerated the use of RON with the company’s preferred RON platform, Notarize, and currently offers title insurance on RON-executed real estate transactions in 32 states.
“Providing consumers with the much-asked-for option to close their real estate transactions remotely reflects our commitment to leading the digital transformation of the title and settlement industry,” said Chris Leavell, chief operating officer, First American Title. “We’ve seen a dramatic increase in the adoption of RON across all our settlement operations and are now initiating and closing more than 1,000 RON transactions per month, in addition to the growing number of RON transactions lenders are initiating. This is an emerging industry norm, and we expect the overall volume of RON transactions to increase further in the months ahead.”
RON adoption has skyrocketed, with Notarize reporting 800% since 2019. While the adoption of RON is increasing across all types of real estate transaction closing scenarios, including those in which the lender initiates the use of RON as an option, First American has seen the greatest interest in RON in the seller-side of residential transactions, which involve fewer documents and do not include a promissory note.
First American Title’s Direct division offers RON closing options to buyers, sellers and borrowers through a centralized team of certified RON specialists. The company’s Agent Advantage team provides title agents with RON capabilities through a variety of options, including strategic partnerships with Notarize and other platforms. First American Title’s Agency division also offers an e-closing toolkit and a comprehensive collection of training resources to help title agents implement eClosings in their operations.
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