If you were closing on a mortgage in Florida, it wouldn’t matter if it was 1950 or 2019 — the closing process was exactly the same, according to Title ClearingHouse of Jacksonville President Valerie Saunders. Then, 2020 changed everything.
“I got into this business over 20 years ago, and it really had not changed for the last 20 years until remote online notarization and hybrid closings came around,” Saunders said.
eClosings are all the rage as stay-at-home orders and fears of the pandemic are keeping Americans in their homes and avoiding any unnecessary travel.
But for those wanting an eClosing – that is easier said than done. One of the greatest obstacles is the acceptance of remote online notarization (RON), both at the regulatory and business level. While growing in popularity, RON is still a slow process and only recently became accepted by many states because of the pandemic.