Closing Solution

Remote Online Notarization (RON) is defined as the use of online audio-video technology to appear before a notary and electronically sign and notarize documents. RON is the key component to fully digital closings.

Conducting a closing over audio-video technology like FaceTime or Skype to watch someone sign paper documents that are then mailed or picked up is not Remote Online Notarization. Paper Remote Online Notarizations where the notary uses multi-factor authentication, but paper documents are signed with wet signatures that are mailed or picked up is also not considered Remote Online Notarization. RON service providers have minimum technical and security standards as well as eSignatures and eNotary Seals enabled.

Each state drafts and approves laws and regulations regarding the use and implementation of Remote Online Notarization. "Check to see if your state has passed RON laws here."

RIN stands for Remote Ink-signed Notarization and is a term coined by Fannie Mae to distinguish between Remote Online Notarizations and temporary approval of paper closings with the aid of audio-visual equipment under executive orders during the COVID-19 pandemic. Title companies and notaries should refer to their state’s laws to confirm authorization of these closings and refer to "Fannie Mae’s RIN Job Aid for guidance."

Yes. The technology to verify the identity of signers is more accurate than examining government-issued IDs with the naked eye. Tamper-evident sealing is applied to all documents to prevent interference with authenticity, integrity, and security of the notarial ceremony. After the closing, documents and recordings are protected and backed up.

The notary is required to maintain the video recordings of RON closings for a minimum of 7 years or more depending on your state law requirements. Lenders must also have access to the recording of the notarial ceremony for the lifetime of the loan.

No. Title insurance companies may not take any exception for the remote online notarization acts if they meet state requirements. There are some exceptions in states where it is not explicitly allowed in that state’s law.

Lenders may not require homebuyers or sellers to use remote online notarization. Other notary options for borrowers must be available if RON.

No! Anyone can easily sign up and start using the platform today. For buyers and sellers, it’s as simple as clicking an appointment link from the closing agent and following the identity verification checks.

It’s simple! Create an account by clicking the ‘Get Started’ button. Once you’re done, you are able to create appointments for any type of eClosing. Log into your account any time to upload and tag closing documents, add parties to an upcoming eClosing, share eDocuments, set up email and SMS alerts for appropriate parties, and conduct a remote or digital in-office closing. If you are a buyer or seller, reach out to your title company to see if they are RON-enabled.

Yes. Both eMortgages and non-eMortgages loans may be closed through the RON process. The note doesn’t require a notary seal, so what differentiates an eMortgage from a traditional mortgage loan is the presence of an eNote. However, only eNotes may be signed electronically and only lenders approved to deliver eNotes on the secondary market may collect eNotes. This process is usually referred to as a “hybrid” closing since it uses both electronic and wet-ink signatures.

No. A “paper” promissory Note may only be wet-ink signed at closing due to restrictions of applicable law of the Uniform Commercial Code (UCC) and foreclosure statutes and regulations with the Uniform Electronic Transfers Act (UETA). At this point, these laws do not recognize electronic signatures on paper notes. The only way to deliver an electronically signed Note is to be an eMortgage-approved lender by both GSEs.

Lenders who provide eMortgage options must have access to an electronic Vault (eVault) that integrates with the Mers eRegistry and MERS eDelivery. The eNote must be distinguishable as the “original” and Authoritative Copy from other copies. The eVault solution used by lenders must also prevent unauthorized viewing of documents with sensitive data through restricted access. Since the GSEs purchase the majority of eNotes on the secondary market, lenders must be a member of MERS and must register the eNote on the MERS eRegistry. eNote → eVault → Registration in the MERS® eRegistry

RON is approved at the state level. If your state allows for RON closings, other considerations include whether or not this type of closing is approved by your lender and title insurance underwriter. Reach out to your real estate agent, title agent, or lender to determine if your closing can be conducted remotely.