Remote online notarization (RON) is taking off in the real estate and lending industries.
Despite the forward momentum, rolling out a new digital service offering on top of running your day-to-day business is no walk in the park. You must stay on top of your everyday work, like accommodating customers and lenders, conducting title searches, coordinating schedules and travel arrangements, and preparing physical closing packages. Plus, educate yourself on RON, vet a technology vendor, and interpret eNotarization legislation and insurance underwriting requirements, to name a few.
However, if the month-end closing frenzy is becoming too much and beginning to outweigh the hesitation to learn something new, it may be time to revisit your pen and paper approach.
Before diving into remote online notarization's popular advantages, let’s review what RON is.
Remote online notarization or RON is the electronic notarization of official mortgage documents. This popular form of electronic notarization requires, at a minimum, secure audio-video, eNotarization, and eSignature technology.
Due to the rise in popularity and homeowner expectations, title and settlement agents often become subject to purchasing several digital tools, one for each part of the electronic notarization process:
However, for maximum benefits, investing in a SOC-2 compliant and MISMO®-certified solution that houses every digital closing feature, like the Stavvy platform, is the best move for title agencies.
Below are the top four advantages of growing your business with RON on an eClosing platform.
Now that you're armed with the operational efficiencies of RON, it's the perfect time to research and find your perfect RON technology partner. For an exclusive look at Stavvy eClosing, which includes user-friendly features like eSign, RON, IPEN, and Eligibility Engine,