Very well thought out analysis Gerard. Should also be interesting when the overseas lobbyist start advocating for offshore notary call centers as you mentioned.
From what I have seen so far the online notarization fees seem to be capped at $25 for each notarization. Not sure if Title Companies will want to spend $250 for 10 notarizations as an example and no wet signatures. Heck, the fax machine has been around for 150yrs and lenders still require wet signatures on such a large transaction.
Agree with Luckydog that this will be a niche market for a while as e-closings are today. Not everyone is technolgically savvy, even the millenniums. Most people use their computers for word processing, email, instagram & facebook. Webcam & Skype has been replaced by Facetime or Android phone apps. The only people that I know that use Webcams are business for conferences. How many borrowers are going to invest time in downloading and learning a new software program that may or may not work with their operationing system? Even if it turns out that most remote notarization are done online most people don't even know how to turn on ther computers video-ha! I have done it and it was a pain in the you know what.
Will be interesting to see how "it" will handle signing by mark, credible witnesses, expired ID's, POA, the list goes on and on. Not to mention video buffing issues.
Mobile Notary signing services are safe at the moment IMHO. Stay tune for the future its coming :-)
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