Why remote mortgage closings are the future and why the implementation of electronic notary technology and laws have made this possible.
This episode of Today’s Real Talk focuses on what is becoming a timeless process as host Justin Ckezepis talks to Ozie Stalwarth, the E-Notarization and Notary Enforcement Director for the North Carolina Department of the Secretary of State. Stalwarth’s role is to oversee the quality of notarization practices and ensure notary instructors are providing quality, informative education.
Today’s episode focuses on the concept of electronic signatures & E-notaries versus traditional wet signatures & notaries and the way the current pandemic has affected these processes. Notarization is vital to the economic infrastructure here in North Carolina and beyond – its primary purpose, be it traditional or electronic, is to protect the public from fraud. The main difference is that E-notary eliminates paper, and everything remains in the electronic arena.
More and more businesses, particularly those involved with real estate transactions, have switched to the use of electronic signatures, and this change was already in effect before the start of the pandemic. Even still, this public health emergency resulted in Emergency Video Notarization legislation that temporarily allows notaries to perform notarial acts via video.1
Although there are still several processes that need to be refined to make remote notarization a better option, the institution of this legislation during the pandemic allowed us to see that electronic mortgage closings are not only possible, but that they should be encouraged to streamline the process and better prevent fraud.
Learn more about why remote mortgage closings are the future and why the implementation of electronic notary technology and laws have made this possible by checking out this show episode. And make sure you subscribe so you never miss an episode of our show.
1 https://www.sosnc.gov/divisions/notary/Emergency_Video_Notarization