Posted by 101livescan on 7/4/12 11:26am
Msg #425547

Digital Docs

Any one hearing how title and escrow orders can be opened online, digitally, linking real estate broker and loan broker, ALL DIGITALLY? And, electronic recording of Grant Deeds and Deeds of Trust?

A wave of new technology has been in use nationwide for sometime. Any one aware of it?

https://www.digitaldocs.net/dcd/2011/09/30/new-title-agent-marketing-service-now-available-nationwide/

Reply by VT_Syrup on 7/4/12 11:42am
Msg #425550

There is a lot of hype about digital docs. A lot of it is e-signing the non-notarized docs, or the non-notarized-non-recordable docs. If the hype doesn't say digital notarization, it probably isn't digital notarization.

A major obstacle to digital notarization is that the documents must be recorded in the government land records office, and many of those are not willing to accept digital documents. Of those that are, they often only accept selected documents from high-volume filers that they have a special setup with. For example a mortgage needs one notarized document when it is created, one when it is paid off, and potentially several assignments among various lenders during the life of the loan. So if the recording office only accepts e-mortgage assignments from outfits that file a bunch of those, they might cut their volume of paper notarized docs in half and still only have to deal with a small partners. So by limiting what they accept, they can pick the low-hanging fruit. Of course, this approach leaves the independent NSA out of the loop.

Reply by 101livescan on 7/4/12 12:01pm
Msg #425551

I agree, especially since states and counties where foreclosures were the highest are not well funded, and low manpower levels. Our own county clerk/recorders office is understaffed. They do they things the way they've done for years, in the dark ages.

We all know too well, how many ENJOA's are sitting around in garages, top shelf of closets, under beds, not ever used...$500 a swack. No way you can keep two journals, electronic and hard copy, and electronic notary seals are not in use any where that I'm aware of.

Title/escrow companies are all about gainig market share, increasing repeat business and decreasing operating expenses. I believe it will be a long time before the NSA job disappears from the face of the earth.

HOWEVER, taking title/escrow orders digitally is definitely in effect in parts of the country, the DEEDS still must be originally signed and recorded a this writing, a long way from digital recording in my estimation, given all the rampant fraud that still exists.

The primarily role of the notary, to prevent the occurrence of fraud by positive identification of the signer(s) appearing in person.

Reply by LKT/CA on 7/4/12 1:02pm
Msg #425552

I've heard that each receiving county recorder has to invest in the software/technology to receive electronic transmission, which many don't have the funds to install and oversee it's maintenance/productivity. How many counties are there in the U.S. ??? I agree with VT/Syrup - it's a lot of hype.

Reply by Marian_in_CA on 7/4/12 3:11pm
Msg #425558

They can still do the entire process digitally, then print the final, recordable documents for those that need it.

I use my electronic notary seal quite often, usually for court paperwork. The whole process is digital. The attorneys that I do this for will then simply print out the documents for the courts that don't accept digital filing. Works fine.

Reply by VT_Syrup on 7/4/12 3:36pm
Msg #425561

Re: Digital Docs; original signatures

Some recording offices require original signatures. If you look at the Michigan law at

http://www.legislature.mi.gov/%28S%28vlstyay3s5dmkc45nmfa4u45%29%29/mileg.aspx?page=getobject&objectname=mcl-565-201

you will find that "(a) The name of each person purporting to execute the instrument is legibly printed, typewritten, or stamped beneath the original signature or mark of the person."

So if a eNotarized document is printed out, the printout is a copy, not an original, right?

Reply by BrendaTx on 7/4/12 7:07pm
Msg #425575

VT and I had the same thought process on this.

I am glad that Marian has had good luck with it, but in my understanding, that would have never happened; r I mean recording or filing a document notarized by eNotarization after printing it out. The printout is not an original and has absolutely no security. Let me be clear that I am not at all disbelieving Marian...but I am very curious about this process and how a clerk is able to do this.

Reply by LKT/CA on 7/4/12 5:23pm
Msg #425568

Marian, I was addressing electronic recording of grant deeds and DOT's.