This week, mortgage technology provider Pavaso introduced a new feature to its Digital Close eClosing platform to meet the growing demand for remote notarizations.
Pavaso’s remote online notarization tool, known as RON, provides complete eNote and eVault transactions and incorporates both lender and title participation. This enables users to conduct mortgage closing sessions remotely, according to the company.
Currently, remote notarization is legal in Texas, Virginia, Montana, and Nevada. Several more states, including Indiana, Minnesota, and Tennessee, have recently passed laws, or are expected to pass laws, introducing remote notarization in 2019.
The company explained that RON differs from other systems because it does not require additional technology, integrations or multiple portals to conduct a complete notarized closing. Instead, customers can use a single electronic portal through the Digital Close Enterprise eClosing platform.
Pavaso Vice President of Partner Relations and Government Affairs Nancy Pratt said she believes that "RON is yet another powerful indicator that times are changing in the mortgage and settlement industries."
"Consumers are demanding more flexibility in choices – it’s no longer just a wish for flexibility in choices —they demand them,” Pratt said. “Pavaso’s unveiling of RON ensures that the consumer will now be able to experience the convenience, transparency and simplicity of a digital closing no matter where that consumer might be situated.”