Digital Closings

Remote Online Notarization Benefits and Protects Consumers by offering them safe and convenient options for executing legal documents online, ALTA member Michael O’Neal said during a virtual legislative hearing May 26 before the U.S. House Energy and Commerce Subcommittee on Consumer Protection and Commerce.

The survey of 390 title professionals showed that 62% of companies offering RON believe this offering will increase over the next year, while a third reported they don’t anticipate any change. Meanwhile, according to the 2022 survey, the number of companies offering RON decreased to 30% in 2021 compared to 35% who indicated their company offered RON in 2020.

Thanks to innovations by the title and settlement services industry, consumers are able to close on their dream home from the comfort of their couch in most cases. This video is meant as a baseline introduction to digital closings.

Mortgage Closing Scams is one of the single costliest forms of fraud a homebuyer can fall victim to. This rack card is meant to be handed out any homeowner who is ready to purchase a home or added to the CPL packet. Available in Several languages

Fraudsters are impersonating property owners to illegally sell commercial or residential property. Sophisticated fraudsters are using the real property owner's Social Security and driver's license numbers in the transaction, as well as legitimate notary credentials, which may be applied without the notary's knowledge.

The Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2020 (SECURE Notarization Act) would permit immediate nationwide use of remote online notary (RON) with minimum standards and provide certainty for the interstate recognition of RON.

There are many types of notarizations available to consumers today, including options for using electronic documents and conducting a remote signing. During the COVID-19 emergency period, state lawmakers authorized the use of short-term notary options, such as Remote Ink Notarization (RIN).

In the United States, real estate transfer documents are typically recorded in local land records at the end of a transaction. These public records provide the world with constructive notice about American property rights. The ability to rely on the validity of these records is central to our real estate market and provides a fundamental foundation for all parties when mortgaging, purchasing, and selling real property.