MERS to Store RON Recordings
October 26, 2021
MERSCORP Holdings Inc. is expanding capabilities to securely store recordings of remote online notarizations (RON) videos.
The solution will allow notaries, RON platform providers and authorized parties during post-closing review, loan purchase and downstream events such as foreclosure to access and retrieve RON video recordings.
“The MERS video storage solution is a tipping point for RON adoption,” said Chris King, senior vice president of business development at Mr. Cooper. “This enhancement gives investors the confidence they need during the life of the loan to access RON videos in a secure and centrally located storage facility. MERS is the obvious choice.”
MERS will extend its registration capabilities to meet this critical industry need with an initial release at the end of the year. The solution will be available by both user interface and API. Planned enhancements in 2022 will expand the functionality to include validation, custom storage durations and other extended features.
“Having a single, independent place to house and provide access to the industry’s RON videos will answer a big issue in the industry today,” said Michael Lyon, executive vice president at Nexsys. “As one of the leading contributors of eNotes to the MERS eRegistry, Nexsys is excited to be part of this solution that will accelerate industry adoption.”
The ALTA Registry identifies title and settlement companies that can perform RON closings. Title and settlement companies can update their listing and get a RON icon at alta.org/registry.
Contact ALTA at 202-296-3671 or firstname.lastname@example.org.