For the mortgage industry, a lot has changed in a short amount of time—especially when it comes to remote online notarization (RON), according to the speakers at DocMagic’s May 27 webinar, “Road-Tested eClosing Strategies for Today.”“The RON landscape accelerated three years in three weeks, and that’s no joke,” said Mike Lyon, the executive vice president at Nexsys Technologies. “The industry went from ‘it’s a nice-to-have’ to ‘we have to have it.’ Nothing says social distancing like a remote online notarization.”
Click here to watch a free recording of the webinar.
Yet lenders shouldn’t just embark on a mad scramble to immediately implement RON, with its shifting landscape of changing legislation; instead, they should immediately begin doing hybrid closings, said Chris Lewis, DocMagic’s Senior Account Executive for Enterprise Solutions. Even if lenders can’t go 100% digital for awhile, they can still move in that direction by completely cutting paper out of the process except for the recordable documents: the note and deed of trust.
“This is easily scalable, it can be implemented in a very short period of time, and it puts you on the path to that fully digital transactional experience,” Lewis said.
The webinar’s other speakers included:
Click here to watch a recording of the webinar, including more in-depth background information, recommendations, and the Q&A session.