Since the Great Recession, federal and state regulators have placed enhanced obligations on title agents to properly vet their third-party service providers.
These requirements are particularly important when it comes to remote online notarization (RON) notaries, who themselves work under a more complex set of rules due to the strict regulatory code governing RON transactions.
As an experienced title agent, you are well aware that not all notaries are created equal, and since RON is the new kid on the block when it comes to closings, it behooves agents to be wary of who they hire to conduct these transactions.
Here’s what to look for in your RON notary.
Certification
As a baseline, RON notaries are required to be properly certified according to the requirements of the state legislature in which they are conducting the closing. Title agents should familiarize themselves with these requirements so they can ask intelligent questions about the notary’s certification before hiring.
Knowledge of State Regulations and Requirements
Beyond certification, state regulators also have additional rules for how the closing is to be conducted using RON. Most states have carefully reviewed available technology and have determined which platforms are approved for that state. Ensure that the notary you choose has a detailed understanding of the regulations and is using an approved platform.
Reminder: RON is in its infancy and state legislators are often fine-tuning state law, so make sure you establish that your notary is aware of any recent updates to the regulations.
Proper Equipment
One of the enhancements with RON technology is the ability to have a full audiovisual recording of notarization sessions. RON notaries must have sophisticated and reliable equipment that includes such things as a reliable camera, demonstrated ability to record and back-up all notarizations safely and securely, and a strong internet connection to ensure a seamless and successful closing.
Customer Service and Professional Demeanor
Some things never change, and just as with traditional notaries, a RON notary must have a professional demeanor, as well as effective customer service skills. Technical knowhow is especially helpful, as they will be guiding homebuyers through the use of the RON platform and should exude confidence and patience in that process.
Get Customer Feedback After Signing
As with any change to the closing process, getting feedback is extremely helpful in refining your approach to a RON closing. Were the parties comfortable with the amount of explanation the notary provided? If there were any hiccups, how did the notary recover and keep the transaction on track? What level of comfort did the signers have with the platform as well as with the notary?
Doing your due diligence on the notaries you will be employing to conduct your RON closings can give you the confidence to move more of your transactions to this secure and immensely helpful technology.
At Network Transaction Solutions, we offer additional resources to help you grow your agency, by taking on those specialized tasks that help you focus on your greatest strengths. Contact us today to learn about how we can assist you with eClosings with RON, municipal lien searches, HOA estoppels, mortgage payoff ordering and tracking, mobile home title services and more.
