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Posted by Colonel/IA on 2/19/19 9:59am
I just got a phone call from the title company for a major lender about doing electronic closings in Iowa. I said I had talked to the Iowa Secretary of State and they did not have any guidelines on software to use for electronic mortgage notarizations. Iowa has 99 counties and 100 county court houses and I don't know that any of the 100 court houses accept electronic mortgage notarizations. The person who called me had talked several times to the Iowa SOS office and knew that was a lack of knowledge there about electronic closings and notarizations. He said several Iowa counties accepted electronic mortgage notarizations. I asked which counties. He could not name which counties. Also to do electronic closing you need an ipad, or laptop or tablet and you need a mobile hot spot. Those are extra expenses to me and since there is no printing, because it is electronic, I will not receive a print fee meaning I incur extra costs and get paid less. My laptop is so old it has Windows 7 Basic and cannot be updated to a new Windows version. I use very little mobile data on my cell phone so I have a small mobile data plan. I am not interested in buying a new ipad or laptop or tablet which I would use only for closings. And I am not interested in spending on more my cell phone plan to get more mobile data. He did say they will not be completely electronic closings and they will still have paper closings. |
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