Industry Update: the Future of eClosing and RON

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ClosingRemote online notarization

ProperSign launches eSign tool for RON capabilities

Multi-page documents can be prepared in less than a minute, company says

Remote online notarization company ProperSign announced a new electronic signature tool called QuickSign, which offers both RON and eSign capabilities.

“Between the RON capability and QuickSign, professionals no longer have to shop for two different tools,” said Wyatt Long, ProperSign vice president. “And since there’s no limit to the number of documents you can execute through QuickSign, organizations can use it for sales contracts, legal or human resource documents as well.”

QuickSign users can add one or multiple signers, upload and tag documents, select the signing order, and send them off to be electronically signed, the company said in a release. Multipage documents can be prepared and tagged for signing in less than a minute, and tags can be added or edited after the document has been sent and before the first signature is applied.

Currently, 32 U.S. states allow full eClosings. RON bills have also been introduced in several other states, and at the federal level. In a RON eClosing, all documents are electronically signed and electronically notarized by a commissioned remote online notary via webcam.

Based in Florida, ProperSign is following the wave of notarization companies that are moving their entire process online. This trend became a necessity during COVID-19 when real estate and title professionals found many that of their clients wanted to do business remotely. A survey by the American Land Title Association in December found that RON adoption soared 547% in 2020.

In November, Zillow CEO Rich Barton said there is “no going back” from remote online notarization.

“Across every industry, there has been a COVID catalyzed and dramatic increase and reliance upon and adoption of technology,” Barton said. “The concrete is setting on new digital habits for life and work, and it is highly unlikely that we go back to the old analog ways.”

Other companies and platforms riding the digital signature wave include SimpleNexus, which announced a partnership last week with Notarize to support remote online notarization through its eClose technology, and real estate tech company Spruce, which recently partnered with insurtech platform Digital Partners and American Digital Title Insurance Company to offer a fully underwritten title commitment that can be completed in minutes.

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