Here is what I heard during webinar:
1. Digital Federal Credit Union is a new partner for Equity and their goal is to do as many if not all of their closings via online. Thus the impetus for the webinar.
2. Snapdocs is the scheduling platform used by Equity but not the instigator of digital notarizations. That would be DFC and therefore Equity.
3. Pavaso, of course, charges for their platform. Equity has negotiated a reduced fee initially for notaries. $25 before 3/31/17. $50 afterward for I think a few months. Then $199 for first year, $99 for renewals. Was not clear if the $25 for first year offer included $99 renewal.
However please note:
4. Initially Equity will be doing “hybrid” loan signings for DFC that will require some docs be printed with the balance of signing digital. There is NO fee to get certified with Pavaso for hybrid transactions.
5. Equity expects some other partners to get on board with digital signings soon because as they say it’s the directions lending is going . timeline for all this unknown, however.
I wrote to Equity before the webinar to see if I wanted to spend the hour listening. Here is the response I received from Equity National:
“We moved to Snapdocs as a scheduling platform, so we do not make as many phone calls as we used to. As for the fee, right now we are doing the same Refinance fee with E-Signings which is $100, that is subject to change. The name of the site we will be using is Pavaso if you would like to research. Hope this helps!
Thanks! Cassie”
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